Tri-Continental Corporation (TY) Income Statement

29Y historyFree accessUpdated daily

Revenue remains highly cyclical, evidenced by quarterly fluctuations ranging from $11.5 million in 2022Q4 to $123.2 million in 2024Q4, while maintaining gross margins that frequently approach 100%.

Annual statement

TY Income Statement

Tri-Continental Corporation (TY) annual income statement — 29-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	299.5M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	410.04M	321.66M	253.91M	-299.07M	436.67M	192.02M	335.31M	-79.76M	282.16M	186.66M	49.74M	45.52M	43.84M	41.2M	22.9M	21.3M	18M	58.61M	92.22M	43.4M	33.7M	35M	26.8M	37.3M	48.3M	48.5M	62.9M	64.8M	64.1M	66.5M
Gross Margin %	136.91%	100%	100%	102.64%	100%	96.5%	97.91%	110.37%	100%	100%	88.53%	87.63%	88.32%	88.98%	82.67%	83.2%	81.08%	87.59%	88.74%	79.93%	76.24%	77.43%	74.65%	78.36%	78.92%	75.31%	78.72%	80.9%	81.97%	84.71%
Gross Profit Growth %	-	26.68%	184.9%	-168.49%	127.41%	-42.73%	520.42%	-128.27%	51.16%	275.27%	9.27%	3.82%	6.41%	79.91%	7.51%	18.33%	-69.29%	-36.45%	112.5%	28.78%	-3.71%	30.6%	-28.15%	-22.77%	-0.41%	-22.89%	-2.93%	1.09%	-3.61%	-
Operating Expenses	8.89M	912.11K	827.53K	817.3K	969.54K	1.03M	1.16M	1.19M	1.2M	1.24M	88.42M	94.1M	263.76M	1M	1.6M	1.6M	4M	13.19M	17.7M	19.8M	5.1M	5.2M	5.2M	6M	5.7M	5.2M	6.2M	6.1M	5.4M	4.9M
OpEx % of Revenue	-	0.28%	0.33%	-0.28%	0.22%	0.52%	0.34%	-1.64%	0.42%	0.66%	157.36%	181.14%	531.31%	2.16%	5.78%	6.25%	18.02%	19.72%	17.04%	36.47%	11.54%	11.5%	14.48%	12.61%	9.31%	8.07%	7.76%	7.62%	6.91%	6.24%
Selling, General & Admin	16.54M	530.04K	412.75K	402.29K	534.59K	618.95K	619.08K	577.65K	578.04K	588.2K	7.45M	7.17M	6.62M	800K	1.4M	1.5M	2.9M	4.9M	6M	8.9M	5.1M	5.1M	5.2M	6M	5.7M	5.3M	6.3M	6.1M	5.4M	4.8M
SG&A % of Revenue	-	0.16%	0.16%	-0.14%	0.12%	0.31%	0.18%	-0.8%	0.2%	0.32%	13.26%	13.81%	13.33%	1.73%	5.05%	5.86%	13.06%	7.32%	5.77%	16.39%	11.54%	11.28%	14.48%	12.61%	9.31%	8.23%	7.88%	7.62%	6.91%	6.11%
Research & Development	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	342.46M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.3M	-73.45M	280.96M	185.42M	48.73M	44.77M	43.03M	40.1M	21.3M	19.8M	14.1M	53.71M	86.22M	34.5M	28.6M	29.8M	21.6M	31.3M	42.6M	43.3M	56.6M	58.8M	58.7M	61.7M
Operating Margin %	114.35%	99.72%	99.67%	100.28%	99.78%	99.48%	99.66%	101.64%	99.58%	99.34%	86.74%	86.19%	86.67%	86.61%	76.9%	77.34%	63.51%	80.28%	82.96%	63.53%	64.71%	65.93%	60.17%	65.76%	69.61%	67.24%	70.84%	73.41%	75.06%	78.6%
Operating Income Growth %	-	26.74%	186.61%	-167.06%	120.1%	-42%	564.66%	-126.14%	51.52%	280.48%	8.85%	4.06%	7.3%	88.26%	7.58%	40.43%	-73.75%	-37.7%	149.94%	20.61%	-4.03%	37.96%	-30.99%	-26.53%	-1.62%	-23.5%	-3.74%	0.17%	-4.86%	-
EBITDA	342.46M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.29M	-73.45M	280.96M	185.42M	-113.19M	247.31M	583.8M	289.3M	115.6M	305.6M	330.5M	53.71M	86.22M	738.9M	53.6M	523M	913.2M	31.33M	42.62M	43.25M	696.1M	1.57B	1.38B	930.6M
EBITDA Margin %	114.35%	99.72%	99.67%	100.28%	99.78%	99.48%	99.66%	101.64%	99.58%	99.34%	-201.46%	476.09%	1176.01%	624.84%	417.33%	1193.75%	1488.74%	80.28%	82.96%	1360.76%	121.27%	1157.08%	2543.73%	65.82%	69.65%	67.16%	871.21%	1961.3%	1758.44%	1185.48%
EBITDA Growth %	88.48%	26.74%	186.61%	-167.06%	120.1%	-42%	564.66%	-126.14%	51.52%	263.81%	-145.77%	-57.64%	101.8%	150.26%	-62.17%	-7.53%	515.29%	-37.7%	-88.33%	1278.54%	-89.75%	-42.73%	2814.69%	-26.49%	-1.45%	-93.79%	-55.69%	14.25%	47.76%	-
D&A (Non-Cash Add-back)	0	0	0	0	0	0	0	0	0	0	0	0	0	249.2M	94.3M	285.8M	316.4M	0	0	704.4M	25M	493.2M	891.6M	0	0	0	639.5M	1.51B	1.32B	868.9M
EBIT	342.46M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.29M	0	0	0	-113.19M	247.31M	583.8M	289.3M	115.6M	305.6M	330.5M	53.71M	86.22M	34.5M	28.59M	29.8M	21.57M	31.33M	42.62M	43.25M	56.63M	58.77M	58.71M	61.66M
Net Interest Income	-938	32.06M	30.11M	28.05M	23.75M	22.25M	23.72M	24.9M	21.24M	22.29M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	0	32.06M	30.12M	28.05M	23.75M	22.25M	23.72M	24.9M	21.24M	22.29M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.25K	639	419	208	392	0	0	0	0	0	0	101.27M	270.4M	124.6M	47.2M	142.9M	158.2M	0	0	352.2M	12.5M	246.6M	445.8M	0	0	0	319.7M	756.1M	658.2M	434.5M
Other Income/Expense	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	508.25M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.3M	-73.45M	280.96M	185.42M	-32.23M	146.04M	313.4M	164.7M	68.4M	162.7M	172.3M	53.71M	86.22M	34.5M	41.1M	276.4M	467.4M	-753.1M	-372.3M	-381.7M	376.4M	814.9M	716.9M	496.1M
Pretax Margin %	169.7%	99.72%	99.67%	100.28%	99.78%	99.48%	99.66%	101.64%	99.58%	99.34%	-57.36%	281.14%	631.31%	355.72%	246.93%	635.55%	776.13%	80.28%	82.96%	63.53%	92.99%	611.5%	1301.95%	-1582.14%	-608.33%	-592.7%	471.09%	1017.35%	916.75%	631.97%
Income Tax	0	0	0	0	0	0	0	53.29M	0	0	161.93M	-202.53M	-540.8M	-249.2M	-94.3M	-285.8M	-316.4M	0	0	0	-25M	-493.2M	-891.6M	1.57B	829.8M	850M	-639.5M	-1.51B	-1.32B	-868.9M
Effective Tax Rate %	0%	0%	0%	0%	0%	0%	0%	-72.55%	0%	0%	-502.41%	-138.68%	-172.56%	-151.31%	-137.87%	-175.66%	-183.63%	0%	0%	0%	-60.83%	-178.44%	-190.76%	-208.31%	-222.88%	-222.69%	-169.9%	-185.57%	-183.62%	-175.15%
Net Income	508.25M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.3M	-73.45M	280.96M	185.42M	-34.11M	144.16M	311.52M	413.9M	162.7M	448.5M	488.7M	53.71M	86.22M	34.5M	66.1M	769.6M	1.36B	-2.32B	-1.2B	-1.23B	1.02B	2.33B	2.03B	1.36B
Net Margin %	169.7%	99.72%	99.67%	100.28%	99.78%	99.48%	99.66%	101.64%	99.58%	99.34%	-60.71%	277.52%	627.52%	893.95%	587.36%	1751.95%	2201.35%	80.28%	82.96%	63.53%	149.55%	1702.65%	3785.52%	-4877.94%	-1964.22%	-1912.58%	1271.46%	2905.24%	2600.13%	1738.85%
Net Income Growth %	84.24%	26.74%	186.61%	-167.07%	120.1%	-42%	564.66%	-126.14%	51.52%	643.58%	-123.66%	-53.72%	-24.74%	154.39%	-63.72%	-8.23%	809.81%	-37.7%	149.94%	-47.81%	-91.41%	-43.37%	158.53%	-93.15%	2.4%	-221.24%	-56.34%	14.45%	48.96%	-
Net Income (Continuing)	508.25M	320.75M	253.08M	-292.2M	435.7M	197.96M	341.3M	-73.45M	280.96M	185.42M	-34.11M	144.16M	311.52M	413.9M	162.7M	448.5M	488.7M	53.71M	86.22M	34.5M	28.59M	29.8M	21.57M	31.33M	42.62M	43.25M	56.63M	58.18M	58.78M	61.82M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	9.71	6.21	4.78	-5.39	7.97	3.77	6.36	-1.36	5.17	3.23	-0.58	2.36	5.01	6.56	2.53	6.74	7.09	0.68	0.84	0.33	0.61	6.81	11.50	-18.63	-9.07	-9.22	8.11	19.84	19.22	14.10
EPS Growth %	90.91%	29.92%	188.68%	-167.63%	111.41%	-40.72%	567.65%	-126.31%	60.06%	656.9%	-124.58%	-52.89%	-23.63%	159.29%	-62.46%	-4.94%	942.65%	-19.05%	154.55%	-45.9%	-91.04%	-40.78%	161.73%	-105.4%	1.63%	-213.69%	-59.12%	3.23%	36.31%	-
EPS (Basic)	-	6.07	4.78	-5.39	7.97	3.77	6.36	-1.36	5.17	3.23	-0.58	2.36	5.01	6.56	2.53	6.74	7.09	0.68	0.84	0.33	0.61	6.81	11.50	-18.63	-9.07	-9.22	8.11	19.84	19.22	14.10
Diluted Shares Outstanding	52.33M	51.65M	52.95M	54.25M	54.67M	52.47M	53.64M	54.01M	54.34M	57.41M	58.86M	61.04M	62.14M	63.1M	64.3M	66.5M	68.9M	79.18M	103.04M	105.38M	108M	113M	118.2M	124.6M	132.5M	133.6M	125.2M	117.3M	105.8M	96.8M
Basic Shares Outstanding	52.98M	52.84M	52.95M	54.25M	54.67M	52.47M	53.64M	53.85M	54.34M	56.76M	58.86M	61.04M	62.14M	63.1M	64.3M	66.5M	68.9M	79.18M	103.04M	105.38M	108M	113M	118.2M	124.6M	132.5M	133.6M	125.2M	117.3M	105.8M	96.8M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeMixed

ProfitabilityModerate

Balance SheetHealthy

Cash FlowStable

Top Statement Risk

NAV Discount Volatility

Verified Source

Metrics are mathematically derived from official filings.

SEC 8-K (2025Q2)

Cyclical Revenue Driven by Markets

As indicated by the historical income statement data, TY's revenue trajectory is highly erratic, reflecting a reliance on market-driven capital gains rather than organic business expansion, with quarterly revenue figures fluctuating significantly from $11.5 million in 2022Q4 to $123.2 million in 2024Q4.

The revenue volatility underscores the fund's sensitivity to S&P 500 performance, as realized gains constitute the primary growth driver. Investors should interpret these swings as a reflection of portfolio turnover and market conditions rather than a sustainable trend in the fund's underlying asset management business.

Structural Margin Stability Amid Volatility

Based on reported financial statements, TY maintains high gross margins that frequently approach 100%, a characteristic typical of closed-end funds where investment income is generated without the burden of variable production costs or traditional cost of goods sold.

While the gross margin appears robust, the operating margin is heavily influenced by non-operating items and market-linked gains, which can distort the perception of operational efficiency. The stability of these margins is largely contingent upon the management fee structure remaining fixed relative to the fund's net assets.

Earnings Distorted by Market Fluctuations

According to the provided income statement data, TY's net income exhibits extreme variance, ranging from $24.7 million to $170.9 million, which suggests that reported earnings are heavily impacted by unrealized and realized investment gains rather than recurring net investment income.

The significant disparity between net income and operating income in certain periods warrants caution, as it indicates that bottom-line results are susceptible to market volatility. Analysts should focus on the sustainability of distributions rather than the headline net income, which may not accurately reflect the fund's long-term earning power.

Persistent Discount to NAV Risks

As reported in recent filings, the persistent discount to NAV suggests that the market may be discounting the value of the fund's active management, potentially indicating that investors view the current distribution policy as unsustainable or the management fees as excessive relative to passive alternatives.

The inability of the fund to trade at or near its net asset value implies a lack of investor confidence in the manager's ability to generate alpha. This discount represents a structural risk that could limit capital appreciation for shareholders regardless of the underlying portfolio's performance.

TY — Frequently Asked Questions

Quick answers to the most common questions about buying TY stock.

What was Tri-Continental Corporation's (TY) revenue in 2024?

For fiscal year 2024, Tri-Continental Corporation (TY) reported total revenue of $1.0M. This represents a 0.0% increase compared to $1.0M in 1996.

Is Tri-Continental Corporation (TY) profitable?

Tri-Continental Corporation (TY) is profitable, generating $320.7M in net income for the fiscal year ending 2024 with a net profit margin of 99.7%.

What is Tri-Continental Corporation's operating profit margin?

Tri-Continental Corporation (TY) reported an operating income of $320.7M, resulting in an operating profit margin of 99.7%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Tri-Continental Corporation's gross profit and gross margin?

Tri-Continental Corporation (TY) generated $321.7M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.