Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Profitability Ratios (Summary)
Celgene Corp., profitability ratios (quarterly data)
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).
- Gross Profit Margin
- The gross profit margin demonstrates a consistently high level throughout the observed periods, maintaining a range close to 95% and slightly increasing over time. From March 2015 to September 2019, the margin moved from approximately 94.9% to around 96.3%, indicating stable and effective cost management in production or service delivery processes.
- Operating Profit Margin
- The operating profit margin shows more variability compared to the gross profit margin. Starting at 38.12% in March 2015, there was a significant dip in mid-2015 down to the low 20% range which continued until the end of 2016. From 2017 onwards, a recovery trend is visible, with margins progressively increasing to reach nearly 46.5% by September 2019. This upward trend in operating profitability suggests improvements in operational efficiency or better control over operating expenses during the latter periods.
- Net Profit Margin
- Net profit margin followed a somewhat parallel pattern to the operating margin but at generally lower levels. Beginning with roughly 31% in the first quarter of 2015, the margin decreased to under 20% by the end of 2015 and early 2016. From 2017, net margins recovered gradually and more robustly, reaching 34.6% by the third quarter of 2019. This indicates enhanced bottom-line profitability which could result from both operating improvements and financial management.
- Return on Equity (ROE)
- ROE exhibited considerable volatility over the examined periods. Initially declining from 36% to about 27% by late 2015, it rebounded strongly from 2016 onwards with notable spikes. Particularly remarkable is the sharp increase during 2018, peaking above 81% in mid-year, followed by a correction yet maintaining elevated levels near 48-58% toward 2019. Such fluctuations suggest shifting leverage or earnings efficiency in relation to shareholders’ equity, reflecting periods of high profitability and possibly strategic capital structuring.
- Return on Assets (ROA)
- The ROA started relatively strong around 14% in early 2015, dropped considerably to approximately 6% by late 2015, and then demonstrated a steady recovery and growth trend thereafter. By late 2019, ROA improved to above 14%, indicating enhanced ability to generate earnings from the company’s asset base. This trend points to better asset utilization and effective management of the company's investment in assets over time.
Return on Sales
Return on Investment
Gross Profit Margin
Celgene Corp., gross profit margin calculation (quarterly data)
| Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||||
| Net product sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | |||||||||||||||||||||||||
| Amgen Inc. | |||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | |||||||||||||||||||||||||
| Danaher Corp. | |||||||||||||||||||||||||
| Eli Lilly & Co. | |||||||||||||||||||||||||
| Gilead Sciences Inc. | |||||||||||||||||||||||||
| Johnson & Johnson | |||||||||||||||||||||||||
| Merck & Co. Inc. | |||||||||||||||||||||||||
| Pfizer Inc. | |||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | |||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | |||||||||||||||||||||||||
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).
1 Q3 2019 Calculation
Gross profit margin = 100
× (Gross profitQ3 2019
+ Gross profitQ2 2019
+ Gross profitQ1 2019
+ Gross profitQ4 2018)
÷ (Net product salesQ3 2019
+ Net product salesQ2 2019
+ Net product salesQ1 2019
+ Net product salesQ4 2018)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Gross Profit
- The gross profit demonstrated a consistently positive trend over the observed periods. Starting from approximately 1.95 billion USD in the first quarter of 2015, the figure steadily increased each quarter, reaching around 4.35 billion USD by the third quarter of 2019. This growth reflects a strong and sustained improvement in earnings from core operations over the nearly five-year span.
- Net Product Sales
- Net product sales followed a similar upward trajectory, increasing from just above 2.05 billion USD in the first quarter of 2015 to approximately 4.52 billion USD by the third quarter of 2019. The data reveals a stable expansion in sales volume or pricing power, closely aligning with the growth in gross profit. The consistent growth suggests successful market penetration or increased demand for the company's products.
- Gross Profit Margin
- The gross profit margin remained high throughout the period, consistently above 94.9%. Furthermore, a gradual improvement is observable, moving from 94.9% in early 2015 to a range slightly above 96.2% to 96.4% from 2017 onward. This indicates a slight enhancement in cost efficiency or product mix that allowed the company to retain a larger proportion of revenue as profit over time.
- Overall Analysis
- The combined trends of increasing gross profit and net product sales, along with the stable to slightly improving gross profit margin, point to operational efficiency and robust sales performance. The data suggests effective revenue growth alongside disciplined cost management, contributing to sustained financial health. There are no indications of volatility or decline, and the steady upward movements denote positive business momentum throughout the reported quarters.
Operating Profit Margin
Celgene Corp., operating profit margin calculation (quarterly data)
| Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Operating income | |||||||||||||||||||||||||
| Net product sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | |||||||||||||||||||||||||
| Amgen Inc. | |||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | |||||||||||||||||||||||||
| Danaher Corp. | |||||||||||||||||||||||||
| Eli Lilly & Co. | |||||||||||||||||||||||||
| Gilead Sciences Inc. | |||||||||||||||||||||||||
| Johnson & Johnson | |||||||||||||||||||||||||
| Merck & Co. Inc. | |||||||||||||||||||||||||
| Pfizer Inc. | |||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | |||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | |||||||||||||||||||||||||
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).
1 Q3 2019 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2019
+ Operating incomeQ2 2019
+ Operating incomeQ1 2019
+ Operating incomeQ4 2018)
÷ (Net product salesQ3 2019
+ Net product salesQ2 2019
+ Net product salesQ1 2019
+ Net product salesQ4 2018)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals distinct trends in the company's operating income, net product sales, and operating profit margin across multiple quarters from March 2015 to September 2019.
- Operating Income
- The operating income displays significant fluctuations over the periods examined. Initially, it starts at a relatively high level but experiences a sharp decline by mid-2015, reaching as low as 80 million US dollars in the third quarter of 2015. Following this trough, operating income steadily increases, with notable peaks in the fourth quarter of 2017 and the end of 2018. The upward trajectory continues into 2019, with the highest recorded income of 2,264 million US dollars in the third quarter, indicating a substantial growth in profitability towards the end of the observed period.
- Net Product Sales
- Net product sales show a consistent upward trend throughout the evaluation period. From just over 2 billion US dollars in early 2015, sales steadily rise to exceed 4.5 billion US dollars by the third quarter of 2019. Though there are minor fluctuations quarter-to-quarter, the overall pattern indicates a robust expansion in sales volume or revenue generated from products, which nearly doubles within the timeframe analyzed.
- Operating Profit Margin
- The operating profit margin demonstrates significant improvement over time. The margin begins at around 38% in the first quarter of 2015 but experiences a decline, reaching a low point near 24% during late 2015 and early 2016. From mid-2016 onward, the margin recovers and consistently increases, culminating in an impressive 46.49% by the third quarter of 2019. This suggests enhanced operational efficiency or better cost management alongside increasing revenues.
In summary, despite a dip in operating income and margins in mid-2015, the company's financial performance shows remarkable recovery and growth through subsequent years. Both sales and profitability strengthen markedly, underscoring improved business operations and effective management strategies over the analyzed periods.
Net Profit Margin
Celgene Corp., net profit margin calculation (quarterly data)
| Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||||
| Net product sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | |||||||||||||||||||||||||
| Amgen Inc. | |||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | |||||||||||||||||||||||||
| Danaher Corp. | |||||||||||||||||||||||||
| Eli Lilly & Co. | |||||||||||||||||||||||||
| Gilead Sciences Inc. | |||||||||||||||||||||||||
| Johnson & Johnson | |||||||||||||||||||||||||
| Merck & Co. Inc. | |||||||||||||||||||||||||
| Pfizer Inc. | |||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | |||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | |||||||||||||||||||||||||
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).
1 Q3 2019 Calculation
Net profit margin = 100
× (Net income (loss)Q3 2019
+ Net income (loss)Q2 2019
+ Net income (loss)Q1 2019
+ Net income (loss)Q4 2018)
÷ (Net product salesQ3 2019
+ Net product salesQ2 2019
+ Net product salesQ1 2019
+ Net product salesQ4 2018)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss)
- The net income displayed a fluctuating trend over the analyzed period. Initially, net income was positive and strong in early 2015, followed by a notable dip into negative territory by the third quarter of 2015. Subsequently, the income recovered and generally trended upward through 2016 and 2017. However, in late 2017, the company again experienced a temporary net loss before resuming a positive and increasing trajectory. By late 2018 and through 2019, net income showed a clear, sustained growth, reaching its highest reported levels during the final quarter of the data.
- Net Product Sales
- Net product sales exhibited a consistent upward trajectory throughout the entire period. Starting from just above 2 billion USD in early 2015, sales steadily increased each quarter, with only minor fluctuations. This growth continued unabated through to the third quarter of 2019, where sales surpassed 4.5 billion USD. This steady increase indicates expanding market presence or improved sales performance for the products over the four-year span.
- Net Profit Margin
- The net profit margin demonstrated some volatility but generally improved over time. Early 2015 margins started relatively high, followed by a marked decrease reaching below 20% in late 2015 and the first half of 2016. From mid-2016 onward, margins mostly stabilized and showed a gradual rising trend, peaking notably in 2019 at above 34%. This upward trend in margins suggests increased efficiency, better cost management, or a more profitable sales mix contributing to higher profitability relative to sales.
- Overall Analysis
- The data shows that despite intermittent setbacks, the company has exhibited strong financial growth in net income and net product sales over the analyzed period. The recovery from losses in 2015 and 2017 to sustained profitability indicates resilience and improving operational performance. The steady increase in sales combined with rising net profit margins in later years highlights effective business strategies enhancing both revenue and profitability. The pattern of increasing profitability ratios alongside growing sales suggests strengthening competitiveness and financial health in recent quarters.
Return on Equity (ROE)
Celgene Corp., ROE calculation (quarterly data)
| Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | |||||||||||||||||||||||||
| Amgen Inc. | |||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | |||||||||||||||||||||||||
| Danaher Corp. | |||||||||||||||||||||||||
| Eli Lilly & Co. | |||||||||||||||||||||||||
| Gilead Sciences Inc. | |||||||||||||||||||||||||
| Johnson & Johnson | |||||||||||||||||||||||||
| Merck & Co. Inc. | |||||||||||||||||||||||||
| Pfizer Inc. | |||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | |||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | |||||||||||||||||||||||||
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).
1 Q3 2019 Calculation
ROE = 100
× (Net income (loss)Q3 2019
+ Net income (loss)Q2 2019
+ Net income (loss)Q1 2019
+ Net income (loss)Q4 2018)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial performance reveals several notable trends in profitability, equity, and return on equity (ROE) over the examined periods.
- Net Income (Loss)
- The net income demonstrated fluctuating results throughout the periods. Initially, net income showed positive values, peaking at 801 million US dollars by March 31, 2016. However, there was a sharp decline in the third quarter of 2015, recording a loss of 34 million US dollars, followed by a recovery. A significant loss was recorded again at the end of 2017, reaching -81 million US dollars, which was an outlier compared to other quarters. The net income trended positively after this loss, hitting a high of 1691 million US dollars by September 30, 2019, indicating robust profitability in the most recent periods.
- Stockholders’ Equity
- Stockholders’ equity initially declined from 6765 million US dollars at the start of 2015 to a low of 3430 million US dollars by June 30, 2018. This decline indicates either distributions to shareholders, losses not reflected in net income, or other equity adjustments. After this low point, a strong recovery was observed, with equity increasing steadily to 12087 million US dollars by the third quarter of 2019. This recovery suggests either retained earnings accumulation, equity issuance, or other capital increases contributing to the strengthening of the equity base.
- Return on Equity (ROE)
- The ROE exhibited considerable variability, with an initial decline from 36.06% in March 2015 to 27.07% by the end of 2015. Subsequently, ROE improved, reaching peaks in the range of 37.72% to 42.48% through 2016 and 2017. From 2018 onwards, ROE surged dramatically to very high levels, peaking at 81.57% in June 2018, before moderating somewhat yet remaining elevated near 48.65% by September 2019. These elevated ratios correspond with periods of lower equity and suggest increased efficiency in generating returns from shareholders’ funds, possibly influenced by the relatively low equity base during some quarters.
Overall, the financial data reveals a pattern of volatility in net income with intermittent losses, a trough and subsequent recovery in stockholders’ equity, and a highly variable but generally strong return on equity, especially in recent quarters. The elevated ROE levels in the later periods warrant further investigation into the underlying components driving these returns, including income sustainability and equity structure changes.
Return on Assets (ROA)
Celgene Corp., ROA calculation (quarterly data)
| Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) | |||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | |||||||||||||||||||||||||
| Amgen Inc. | |||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | |||||||||||||||||||||||||
| Danaher Corp. | |||||||||||||||||||||||||
| Eli Lilly & Co. | |||||||||||||||||||||||||
| Gilead Sciences Inc. | |||||||||||||||||||||||||
| Johnson & Johnson | |||||||||||||||||||||||||
| Merck & Co. Inc. | |||||||||||||||||||||||||
| Pfizer Inc. | |||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | |||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | |||||||||||||||||||||||||
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).
1 Q3 2019 Calculation
ROA = 100
× (Net income (loss)Q3 2019
+ Net income (loss)Q2 2019
+ Net income (loss)Q1 2019
+ Net income (loss)Q4 2018)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial performance presents distinct patterns in profitability, asset base expansion, and overall efficiency ratios over the period examined.
- Net Income (Loss)
- The net income exhibits notable volatility across quarters. Initially, the company recorded positive net income with a high of 719 million US dollars but also experienced a significant loss at the end of the third quarter of 2015. Following this loss, profitability improved with intermittent fluctuations. In 2017, net income again displayed volatility, including a substantial negative figure in the last quarter. From 2018 onwards, net income demonstrated a trend of consistent growth, reaching peaks of approximately 1.5 billion US dollars, indicating stronger profitability toward the latter part of the period analyzed.
- Total Assets
- Total assets have shown a steady long-term increase throughout the period. Despite minor fluctuations, the overall asset base grew from about 17.5 billion US dollars at the start to over 41 billion US dollars by the end of the period. This expansion reflects asset acquisition or valuation increases consistent with growth strategies or inflationary effects over time.
- Return on Assets (ROA)
- The ROA metric starts at a relatively high level, followed by a decline during 2015, possibly reflecting the impact of operational challenges or losses in that timeframe. After mid-2015, ROA gradually improved, with a general upward trajectory seen especially in the years 2017 through 2019. By the end of the period, ROA reached over 14%, indicating enhanced asset utilization and increased operational profitability.
Overall, the data indicates that while there were periods of financial stress marked by losses and reduced asset efficiency, the company managed significant growth in assets alongside improving profitability and efficiency ratios. The progressive increase in ROA, combined with the substantial rise in net income in recent quarters, suggests effective management of resources and successful business operations in the latter stages of the analyzed timeframe.