A linear analysis approach has been applied to determine the dynamic characteristics of the color-coded S-potentials. Using a sinusoidally modulated light stimulus it could be shown that the monophasic S-potential as well as each of the different components of biphasic and triphasic S-potentials behaves linearly. However, for high modulation depths and high average intensities nonlinear effects, such as saturation, become obvious. The transfer characteristics of the monophasic potentials and each component of the biphasic and triphasic potentials are indistinguishable. Their latencies, however, differ. These findings suggest that the three different types of S-potentials not only originate from functionally comparable cells but also that the dynamic characteristics of the cells presynaptic to the S-potential sources are identical.