Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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Profitability Ratios (Summary)
DexCom Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
- Gross Profit Margin
- The gross profit margin demonstrates a generally positive trend over the observed periods. Beginning around 64.36% in early 2018, it shows a gradual increase, reaching a peak above 69% in late 2021. Subsequently, the margin experiences a gradual decline, settling in the mid-63% range by the third quarter of 2023. This suggests a slight erosion of profitability at the gross profit level in the most recent periods.
- Operating Profit Margin
- The operating profit margin reveals significant improvement over time. Early data points indicate negative margins exceeding -18%, but from the fourth quarter of 2019 onward, a turnaround is evident, with margins moving into positive territory and progressively improving to over 16% by the end of 2020. Margins then moderately fluctuate between roughly 9% and 16%, indicating stable operating profitability with some variability in recent quarters.
- Net Profit Margin
- Net profit margin trends align with those observed in operating profit margin, though with greater volatility. Initially deeply negative, margins improve significantly starting late 2019, reaching a notable peak of approximately 25% in early 2021. Afterward, the margin declines somewhat but maintains positive values around 11% into mid-2023. This pattern suggests the company managed to achieve profitability growth followed by stabilization at a positive net margin level.
- Return on Equity (ROE)
- ROE exhibits a marked recovery from negative figures close to -24% in 2019 to positive double digits starting late 2019. Peak ROE exceeds 27% in early 2021, reflecting strong profitability relative to shareholders' equity. Following this peak, there is a notable decrease with fluctuations, but ROE remains positive throughout 2022 and 2023, generally ranging between 13% and 17%. The data implies improved efficiency in generating returns for equity holders after a period of losses.
- Return on Assets (ROA)
- The ROA follows a similar trajectory to ROE, improving from negative returns near -8% in 2019 to consistent positive returns from late 2019 onward. It reaches a peak above 11% in early 2021 before declining to a range between approximately 3% and 6% in 2022 and 2023. This indicates strengthening asset utilization and profitability, albeit with some reduction in effectiveness in the most recent periods.
Return on Sales
Return on Investment
Gross Profit Margin
DexCom Inc., gross profit margin calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Gross profit | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
1 Q3 2023 Calculation
Gross profit margin = 100
× (Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023
+ Gross profitQ4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue shows a consistent upward trajectory from March 31, 2018 through September 30, 2023, increasing from $184.4 million to $975.0 million. Notable increases are observed quarterly, reflecting steady sales growth. Slight slowdowns in growth rate are visible around the end of 2019 and early 2022, but recovery resumes thereafter.
- Gross Profit Trends
- Gross profit also exhibits a clear growth pattern, rising from $118.9 million in March 31, 2018 to $623.3 million at September 30, 2023. The increase aligns with revenue growth, indicating improved business performance. Periodic fluctuations are seen, but the overall trend points to enhanced profitability at the gross margin level over time.
- Gross Profit Margin Analysis
- The gross profit margin percentage, available from December 31, 2018 onwards, ranges between 62.54% and 69.29%. Margins generally improve over the periods, peaking around late 2021 and early 2022 at near 69.29%, implying better cost control or pricing power. However, a gradual decline in margin occurs in late 2022 and into 2023, suggesting increased costs or pricing pressures despite rising absolute gross profits.
- Overall Observations
- The data reflect robust growth in both revenue and gross profit over the five-year span. The gross profit margin improvement through much of the period indicates efficiency gains or favorable product mix changes. The recent slight contraction in margin, despite higher sales and gross profit, may warrant additional investigation into cost components or competitive dynamics. Nonetheless, the company maintains strong growth momentum throughout the dataset.
Operating Profit Margin
DexCom Inc., operating profit margin calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Operating income (loss) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
1 Q3 2023 Calculation
Operating profit margin = 100
× (Operating income (loss)Q3 2023
+ Operating income (loss)Q2 2023
+ Operating income (loss)Q1 2023
+ Operating income (loss)Q4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations and an overall improving trend in operating income and revenue over the analyzed quarterly periods. Initially, operating income displayed significant volatility, including a substantial loss of -164.6 million USD in the fourth quarter of 2018. This challenging period was followed by gradual recovery, with operating income turning positive in mid-2019 and reaching consistent profits thereafter. Despite some fluctuations, the more recent quarters exhibit substantial operating income growth, culminating in a peak of 205.5 million USD in the third quarter of 2023.
Revenue demonstrates steady growth throughout the period. Starting at 184.4 million USD in the first quarter of 2018, revenue increases consistently with some expected seasonal variations, reaching nearly 975 million USD by the third quarter of 2023. This steady upward trajectory in revenue supports the improvement in operating income and suggests increased market demand or successful business expansion strategies.
The operating profit margin, calculated as the ratio of operating income to revenue, corroborates the operating income and revenue trends. It was negative during 2018 and early 2019 quarters, reflecting operating losses or thin profitability margins. From mid-2019 onward, the margin turned positive, improving progressively and stabilizing mostly between 10% and 16%. The margin peaked near 16.3% at the end of 2020, indicating effective cost control or enhanced operational efficiency. More recently, margins fluctuate but remain within a healthy range near 13-15%, evidencing consistent profitability despite some variability.
- Operating Income (Loss)
- Marked by considerable volatility in 2018, with deep losses especially in Q4 2018. Recovery began in early 2019, transitioning into sustained profitability through 2023. The most recent quarters show strong operating income levels exceeding 200 million USD, signaling robust operational performance.
- Revenue
- Demonstrates a consistent upward trend across the examined timeframe, nearly quintupling over five years. The steady revenue growth provides a solid foundation for improving profitability, suggesting expanding sales volume, pricing power, or market share gains.
- Operating Profit Margin
- Transitioned from negative territory in 2018 to a stable positive margin post-2019. Margins generally improved and remained in the double-digit percentage range, with some seasonal and quarterly variations. Peak margins near 16% highlight periods of strong cost management and operational efficiency.
Overall, the data indicates a company that has successfully navigated early operational challenges, achieving steady top-line growth and progressively stronger profitability. The positive margins and increased operating income in recent quarters suggest effective strategic adjustments and potentially enhanced market positioning. While some variability persists, the trends imply a solid financial foundation moving forward.
Net Profit Margin
DexCom Inc., net profit margin calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
1 Q3 2023 Calculation
Net profit margin = 100
× (Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023
+ Net income (loss)Q4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data indicates several notable trends over the analyzed periods. Revenue demonstrates a general upward trajectory, increasing from approximately $184 million in the first quarter of 2018 to an estimated $975 million by the third quarter of 2023. This consistent growth suggests expanding business operations or market acceptance over time.
Net income (loss) exhibits considerable volatility during the period. Initially, the company experienced losses in some quarters of 2018 and 2019, with the largest loss recorded at roughly $180 million in the fourth quarter of 2018. Following that, net income turned positive and showed improvement with some fluctuations, reaching a peak of around $355 million in the fourth quarter of 2020. However, subsequent quarters again reflect swings, including occasional negative net income, such as in the fourth quarter of 2021. The later quarters in 2022 and 2023 show recurring positive net income figures, indicating some stabilization yet variability in profitability.
The net profit margin percentage aligns with the net income trend. Initially negative in the latter quarters of 2018 and into 2019, margins improved significantly from 2020 onward, peaking near 26% in the first quarter of 2021. Although there is some decline afterward, profit margins remain positive and in the range of approximately 7% to 12%, suggesting increased operational efficiency and profitability relative to revenues compared to earlier periods.
Overall, the data portrays a company that has experienced revenue growth and increasing profitability over time, despite intermittent swings in quarterly net income results. The marked improvement in net profit margin since 2020 highlights enhanced financial performance and potentially effective cost management or product mix improvements. Continued observation of the fluctuations in net income will be important to assess earnings sustainability.
- Revenue
- Consistent growth from $184 million (Q1 2018) to $975 million (Q3 2023).
- Net Income (Loss)
- Volatile, with large losses in 2018, positive peaks in 2020, and variable results subsequently.
- Net Profit Margin
- Negative margins early on, improving sharply to positive margins between 7% and 26% from 2020 forward.
Return on Equity (ROE)
DexCom Inc., ROE calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||||||
| Stockholders’ equity | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
1 Q3 2023 Calculation
ROE = 100
× (Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023
+ Net income (loss)Q4 2022)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial results indicate significant fluctuations over the quarters with notable trends and shifts in profitability and equity structure.
- Net Income (Loss)
- The net income shows considerable volatility over the analyzed periods. Initial quarters reflect losses and moderate gains, with pronounced negative results toward the end of 2018. Starting from 2019, profitability recovers with alternating positive results, peaking markedly in the last quarter of 2020 with a substantial increase. Subsequently, income continues to demonstrate positive values but with notable dips, including a return to a slight loss in late 2021. Most recently, net income resumes its upward movement, achieving relatively high positive figures in 2023.
- Stockholders’ Equity
- Stockholders’ equity exhibits a consistent upward trajectory throughout the periods, indicating sustained growth and accumulation of equity value. Starting from approximately $421.7 million at the beginning of 2018, equity nearly doubles by late 2020, surpassing $1.8 billion. This growth trend continues into 2021, with some fluctuations in 2022 but generally maintaining levels above $2.1 billion. The end of 2023 sees equity approaching $2.27 billion, reflecting long-term capital strengthening despite short-term income volatility.
- Return on Equity (ROE)
- ROE values confirm the income trend's variability. Early periods lack data but, starting in late 2018, ROE registers significant negative percentages, indicating losses relative to equity. Improvement occurs in 2019, with ROE turning positive and showing progressive enhancement through 2020, where it peaks around 27%. In 2021, ROE remains strong in the mid-20s but declines sharply at the end of the year and into early 2022. The metric subsequently stabilizes with moderate positive returns around 8% to 17% through 2023, reflecting a recovery in profitability relative to equity.
Return on Assets (ROA)
DexCom Inc., ROA calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 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).
1 Q3 2023 Calculation
ROA = 100
× (Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023
+ Net income (loss)Q4 2022)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The net income exhibits notable volatility over the analyzed quarters. Initially, the company recorded a net loss of $24.2 million in March 2018, followed by a recovery to positive income in the subsequent quarters of 2018, including a peak of $46.6 million in September 2018. However, a significant net loss of $179.7 million occurred in December 2018, marking the lowest point in the observed period. Following this, net income generally improved, with fluctuations but a clear upward trend toward late 2020, reaching a high of $355.2 million in December 2020. After this peak, net income remained positive but showed intermittent decreases, including a negative $19.4 million in December 2021. In 2022 and 2023, net income remained positive, with values oscillating between approximately $48.6 million and $120.7 million, indicating consistent profitability with some quarter-to-quarter variations.
Total assets increased substantially throughout the period, evidencing firm growth and asset accumulation. Assets rose from approximately $897 million in March 2018 to a peak near $6.82 billion in June 2023, showing an overall expansion by more than seven times. This growth is mostly steady, with minor fluctuations, including a slight dip toward the end of 2022 and into 2023 but maintaining a generally robust upward trend.
Return on Assets (ROA) data is available from the end of 2018. Initially, ROA was negative in Q4 2018 and throughout 2019, ranging roughly from -8.25% to -6.58%. Starting in early 2020, a clear turnaround took place as ROA turned positive and progressively improved, reaching a peak ROI exceeding 11% in late 2020 and into early 2021. Subsequently, ROA stabilized in the range of approximately 3% to 6% through to Q3 2023, indicating effective utilization of assets to generate profits despite some fluctuations.
Overall, the data reflects a company experiencing significant financial volatility in net income during the initial years, followed by a period of substantial growth and improved profitability as evidenced by rising net income figures and increasing asset base. The positive ROA trend from 2020 onward further supports this recovery and operational efficiency enhancement.
- Net Income (US$ thousands)
- Marked by initial volatility with heavy losses in late 2018 followed by strong recovery and sustained profitability through 2023, fluctuating between approximately $48.6 million and $120.7 million in recent quarters.
- Total Assets (US$ thousands)
- Consistent growth from $896.8 million in early 2018 to over $6.6 billion by late 2023, signifying asset expansion exceeding sevenfold.
- Return on Assets (ROA, %)
- Negative through 2018-2019, transitioning to steady positive returns from 2020 onward, with peaks around 11.7% and stabilizing between roughly 3% and 6% subsequently.