Stock Analysis on Net
Stock Analysis on Net

Celgene Corp. (NASDAQ:CELG)

This company has been moved to the archive! The financial data has not been updated since October 31, 2019.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Celgene Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2019 48.65% = 14.22% × 3.42
Jun 30, 2019 52.44% = 13.45% × 3.90
Mar 31, 2019 58.11% = 12.61% × 4.61
Dec 31, 2018 65.67% = 11.40% × 5.76
Sep 30, 2018 59.51% = 8.45% × 7.04
Jun 30, 2018 81.57% = 8.37% × 9.75
Mar 31, 2018 55.18% = 8.26% × 6.68
Dec 31, 2017 42.48% = 9.75% × 4.36
Sep 30, 2017 35.02% = 10.87% × 3.22
Jun 30, 2017 31.18% = 8.69% × 3.59
Mar 31, 2017 27.87% = 7.39% × 3.77
Dec 31, 2016 30.29% = 7.12% × 4.26
Sep 30, 2016 37.72% = 7.97% × 4.73
Jun 30, 2016 34.71% = 7.25% × 4.79
Mar 31, 2016 33.18% = 6.49% × 5.12
Dec 31, 2015 27.07% = 5.92% × 4.57
Sep 30, 2015 30.79% = 6.05% × 5.09
Jun 30, 2015 34.76% = 12.38% × 2.81
Mar 31, 2015 36.06% = 13.95% × 2.58
Dec 31, 2014 30.65% = 11.53% × 2.66
Sep 30, 2014 — = — × 2.84
Jun 30, 2014 — = — × 3.22
Mar 31, 2014 — = — × 2.83

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.

Three-Component Disaggregation of ROE

Celgene Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2019 48.65% = 34.64% × 0.41 × 3.42
Jun 30, 2019 52.44% = 32.24% × 0.42 × 3.90
Mar 31, 2019 58.11% = 30.11% × 0.42 × 4.61
Dec 31, 2018 65.67% = 26.51% × 0.43 × 5.76
Sep 30, 2018 59.51% = 19.66% × 0.43 × 7.04
Jun 30, 2018 81.57% = 19.84% × 0.42 × 9.75
Mar 31, 2018 55.18% = 21.06% × 0.39 × 6.68
Dec 31, 2017 42.48% = 22.66% × 0.43 × 4.36
Sep 30, 2017 35.02% = 27.66% × 0.39 × 3.22
Jun 30, 2017 31.18% = 21.66% × 0.40 × 3.59
Mar 31, 2017 27.87% = 18.30% × 0.40 × 3.77
Dec 31, 2016 30.29% = 17.87% × 0.40 × 4.26
Sep 30, 2016 37.72% = 19.83% × 0.40 × 4.73
Jun 30, 2016 34.71% = 19.08% × 0.38 × 4.79
Mar 31, 2016 33.18% = 17.54% × 0.37 × 5.12
Dec 31, 2015 27.07% = 17.49% × 0.34 × 4.57
Sep 30, 2015 30.79% = 19.07% × 0.32 × 5.09
Jun 30, 2015 34.76% = 26.41% × 0.47 × 2.81
Mar 31, 2015 36.06% = 30.83% × 0.45 × 2.58
Dec 31, 2014 30.65% = 26.44% × 0.44 × 2.66
Sep 30, 2014 — = — × — × 2.84
Jun 30, 2014 — = — × — × 3.22
Mar 31, 2014 — = — × — × 2.83

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.

Five-Component Disaggregation of ROE

Celgene Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2019 48.65% = 0.88 × 0.90 × 43.78% × 0.41 × 3.42
Jun 30, 2019 52.44% = 0.86 × 0.89 × 42.19% × 0.42 × 3.90
Mar 31, 2019 58.11% = 0.84 × 0.88 × 40.51% × 0.42 × 4.61
Dec 31, 2018 65.67% = 0.84 × 0.87 × 36.51% × 0.43 × 5.76
Sep 30, 2018 59.51% = 0.60 × 0.87 × 37.66% × 0.43 × 7.04
Jun 30, 2018 81.57% = 0.63 × 0.88 × 36.07% × 0.42 × 9.75
Mar 31, 2018 55.18% = 0.66 × 0.89 × 36.09% × 0.39 × 6.68
Dec 31, 2017 42.48% = 0.68 × 0.89 × 37.28% × 0.43 × 4.36
Sep 30, 2017 35.02% = 0.94 × 0.88 × 33.59% × 0.39 × 3.22
Jun 30, 2017 31.18% = 0.89 × 0.85 × 28.43% × 0.40 × 3.59
Mar 31, 2017 27.87% = 0.86 × 0.83 × 25.51% × 0.40 × 3.77
Dec 31, 2016 30.29% = 0.84 × 0.83 × 25.68% × 0.40 × 4.26
Sep 30, 2016 37.72% = 0.81 × 0.84 × 29.00% × 0.40 × 4.73
Jun 30, 2016 34.71% = 0.82 × 0.84 × 27.75% × 0.38 × 4.79
Mar 31, 2016 33.18% = 0.79 × 0.85 × 26.05% × 0.37 × 5.12
Dec 31, 2015 27.07% = 0.79 × 0.87 × 25.48% × 0.34 × 4.57
Sep 30, 2015 30.79% = 0.83 × 0.89 × 25.66% × 0.32 × 5.09
Jun 30, 2015 34.76% = 0.85 × 0.93 × 33.52% × 0.47 × 2.81
Mar 31, 2015 36.06% = 0.86 × 0.94 × 38.15% × 0.45 × 2.58
Dec 31, 2014 30.65% = 0.86 × 0.93 × 33.10% × 0.44 × 2.66
Sep 30, 2014 — = — × — × — × — × 2.84
Jun 30, 2014 — = — × — × — × — × 3.22
Mar 31, 2014 — = — × — × — × — × 2.83

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.

Two-Component Disaggregation of ROA

Celgene Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2019 14.22% = 34.64% × 0.41
Jun 30, 2019 13.45% = 32.24% × 0.42
Mar 31, 2019 12.61% = 30.11% × 0.42
Dec 31, 2018 11.40% = 26.51% × 0.43
Sep 30, 2018 8.45% = 19.66% × 0.43
Jun 30, 2018 8.37% = 19.84% × 0.42
Mar 31, 2018 8.26% = 21.06% × 0.39
Dec 31, 2017 9.75% = 22.66% × 0.43
Sep 30, 2017 10.87% = 27.66% × 0.39
Jun 30, 2017 8.69% = 21.66% × 0.40
Mar 31, 2017 7.39% = 18.30% × 0.40
Dec 31, 2016 7.12% = 17.87% × 0.40
Sep 30, 2016 7.97% = 19.83% × 0.40
Jun 30, 2016 7.25% = 19.08% × 0.38
Mar 31, 2016 6.49% = 17.54% × 0.37
Dec 31, 2015 5.92% = 17.49% × 0.34
Sep 30, 2015 6.05% = 19.07% × 0.32
Jun 30, 2015 12.38% = 26.41% × 0.47
Mar 31, 2015 13.95% = 30.83% × 0.45
Dec 31, 2014 11.53% = 26.44% × 0.44
Sep 30, 2014 — = — × —
Jun 30, 2014 — = — × —
Mar 31, 2014 — = — × —

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2019 is the increase in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Celgene Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2019 14.22% = 0.88 × 0.90 × 43.78% × 0.41
Jun 30, 2019 13.45% = 0.86 × 0.89 × 42.19% × 0.42
Mar 31, 2019 12.61% = 0.84 × 0.88 × 40.51% × 0.42
Dec 31, 2018 11.40% = 0.84 × 0.87 × 36.51% × 0.43
Sep 30, 2018 8.45% = 0.60 × 0.87 × 37.66% × 0.43
Jun 30, 2018 8.37% = 0.63 × 0.88 × 36.07% × 0.42
Mar 31, 2018 8.26% = 0.66 × 0.89 × 36.09% × 0.39
Dec 31, 2017 9.75% = 0.68 × 0.89 × 37.28% × 0.43
Sep 30, 2017 10.87% = 0.94 × 0.88 × 33.59% × 0.39
Jun 30, 2017 8.69% = 0.89 × 0.85 × 28.43% × 0.40
Mar 31, 2017 7.39% = 0.86 × 0.83 × 25.51% × 0.40
Dec 31, 2016 7.12% = 0.84 × 0.83 × 25.68% × 0.40
Sep 30, 2016 7.97% = 0.81 × 0.84 × 29.00% × 0.40
Jun 30, 2016 7.25% = 0.82 × 0.84 × 27.75% × 0.38
Mar 31, 2016 6.49% = 0.79 × 0.85 × 26.05% × 0.37
Dec 31, 2015 5.92% = 0.79 × 0.87 × 25.48% × 0.34
Sep 30, 2015 6.05% = 0.83 × 0.89 × 25.66% × 0.32
Jun 30, 2015 12.38% = 0.85 × 0.93 × 33.52% × 0.47
Mar 31, 2015 13.95% = 0.86 × 0.94 × 38.15% × 0.45
Dec 31, 2014 11.53% = 0.86 × 0.93 × 33.10% × 0.44
Sep 30, 2014 — = — × — × — × —
Jun 30, 2014 — = — × — × — × —
Mar 31, 2014 — = — × — × — × —

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2019 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Celgene Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2019 34.64% = 0.88 × 0.90 × 43.78%
Jun 30, 2019 32.24% = 0.86 × 0.89 × 42.19%
Mar 31, 2019 30.11% = 0.84 × 0.88 × 40.51%
Dec 31, 2018 26.51% = 0.84 × 0.87 × 36.51%
Sep 30, 2018 19.66% = 0.60 × 0.87 × 37.66%
Jun 30, 2018 19.84% = 0.63 × 0.88 × 36.07%
Mar 31, 2018 21.06% = 0.66 × 0.89 × 36.09%
Dec 31, 2017 22.66% = 0.68 × 0.89 × 37.28%
Sep 30, 2017 27.66% = 0.94 × 0.88 × 33.59%
Jun 30, 2017 21.66% = 0.89 × 0.85 × 28.43%
Mar 31, 2017 18.30% = 0.86 × 0.83 × 25.51%
Dec 31, 2016 17.87% = 0.84 × 0.83 × 25.68%
Sep 30, 2016 19.83% = 0.81 × 0.84 × 29.00%
Jun 30, 2016 19.08% = 0.82 × 0.84 × 27.75%
Mar 31, 2016 17.54% = 0.79 × 0.85 × 26.05%
Dec 31, 2015 17.49% = 0.79 × 0.87 × 25.48%
Sep 30, 2015 19.07% = 0.83 × 0.89 × 25.66%
Jun 30, 2015 26.41% = 0.85 × 0.93 × 33.52%
Mar 31, 2015 30.83% = 0.86 × 0.94 × 38.15%
Dec 31, 2014 26.44% = 0.86 × 0.93 × 33.10%
Sep 30, 2014 — = — × — × —
Jun 30, 2014 — = — × — × —
Mar 31, 2014 — = — × — × —

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The primary reason for the increase in net profit margin ratio over Q3 2019 is the increase in operating profitability measured by EBIT margin ratio.