Stock Analysis on Net
Stock Analysis on Net

Fiserv Inc. (NASDAQ:FISV)

This company has been moved to the archive! The financial data has not been updated since April 28, 2022.

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

Fiserv Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 31, 2022 5.43% = 2.25% × 2.41
Dec 31, 2021 4.31% = 1.75% × 2.46
Sep 30, 2021 4.12% = 1.72% × 2.40
Jun 30, 2021 3.58% = 1.50% × 2.38
Mar 31, 2021 2.73% = 1.16% × 2.35
Dec 31, 2020 2.96% = 1.28% × 2.31
Sep 30, 2020 2.86% = 1.25% × 2.28
Jun 30, 2020 2.66% = 1.09% × 2.44
Mar 31, 2020 3.33% = 1.46% × 2.28
Dec 31, 2019 2.71% = 1.15% × 2.35
Sep 30, 2019 2.85% = 1.20% × 2.38
Jun 30, 2019 37.75% = 4.89% × 7.71
Mar 31, 2019 41.31% = 8.47% × 4.88
Dec 31, 2018 51.77% = 10.54% × 4.91
Sep 30, 2018 54.38% = 13.46% × 4.04
Jun 30, 2018 50.95% = 14.21% × 3.59
Mar 31, 2018 47.86% = 13.99% × 3.42
Dec 31, 2017 45.62% = 12.11% × 3.77
Sep 30, 2017 — = — × 4.34
Jun 30, 2017 — = — × 4.05
Mar 31, 2017 — = — × 4.00

Based on: 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), 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).

The primary reason for the increase in return on equity ratio (ROE) over Q1 2022 is the increase in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Fiserv Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2022 5.43% = 10.23% × 0.22 × 2.41
Dec 31, 2021 4.31% = 8.22% × 0.21 × 2.46
Sep 30, 2021 4.12% = 8.23% × 0.21 × 2.40
Jun 30, 2021 3.58% = 7.37% × 0.20 × 2.38
Mar 31, 2021 2.73% = 5.86% × 0.20 × 2.35
Dec 31, 2020 2.96% = 6.45% × 0.20 × 2.31
Sep 30, 2020 2.86% = 6.01% × 0.21 × 2.28
Jun 30, 2020 2.66% = 5.82% × 0.19 × 2.44
Mar 31, 2020 3.33% = 8.51% × 0.17 × 2.28
Dec 31, 2019 2.71% = 8.77% × 0.13 × 2.35
Sep 30, 2019 2.85% = 12.11% × 0.10 × 2.38
Jun 30, 2019 37.75% = 16.08% × 0.30 × 7.71
Mar 31, 2019 41.31% = 16.81% × 0.50 × 4.88
Dec 31, 2018 51.77% = 20.38% × 0.52 × 4.91
Sep 30, 2018 54.38% = 25.00% × 0.54 × 4.04
Jun 30, 2018 50.95% = 25.14% × 0.57 × 3.59
Mar 31, 2018 47.86% = 24.76% × 0.56 × 3.42
Dec 31, 2017 45.62% = 21.88% × 0.55 × 3.77
Sep 30, 2017 — = — × — × 4.34
Jun 30, 2017 — = — × — × 4.05
Mar 31, 2017 — = — × — × 4.00

Based on: 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), 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).

The primary reason for the increase in return on equity ratio (ROE) over Q1 2022 is the increase in profitability measured by net profit margin ratio.

Two-Component Disaggregation of ROA

Fiserv Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2022 2.25% = 10.23% × 0.22
Dec 31, 2021 1.75% = 8.22% × 0.21
Sep 30, 2021 1.72% = 8.23% × 0.21
Jun 30, 2021 1.50% = 7.37% × 0.20
Mar 31, 2021 1.16% = 5.86% × 0.20
Dec 31, 2020 1.28% = 6.45% × 0.20
Sep 30, 2020 1.25% = 6.01% × 0.21
Jun 30, 2020 1.09% = 5.82% × 0.19
Mar 31, 2020 1.46% = 8.51% × 0.17
Dec 31, 2019 1.15% = 8.77% × 0.13
Sep 30, 2019 1.20% = 12.11% × 0.10
Jun 30, 2019 4.89% = 16.08% × 0.30
Mar 31, 2019 8.47% = 16.81% × 0.50
Dec 31, 2018 10.54% = 20.38% × 0.52
Sep 30, 2018 13.46% = 25.00% × 0.54
Jun 30, 2018 14.21% = 25.14% × 0.57
Mar 31, 2018 13.99% = 24.76% × 0.56
Dec 31, 2017 12.11% = 21.88% × 0.55
Sep 30, 2017 — = — × —
Jun 30, 2017 — = — × —
Mar 31, 2017 — = — × —

Based on: 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), 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).

The primary reason for the increase in return on assets ratio (ROA) over Q1 2022 is the increase in profitability measured by net profit margin ratio.