Stock Analysis on Net
Stock Analysis on Net

O’Reilly Automotive Inc. (NASDAQ:ORLY)

This company has been moved to the archive! The financial data has not been updated since November 8, 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

O’Reilly Automotive Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2022 — = 17.67% × —
Jun 30, 2022 — = 17.70% × —
Mar 31, 2022 — = 18.24% × —
Dec 31, 2021 — = 18.47% × —
Sep 30, 2021 — = 17.29% × —
Jun 30, 2021 922.05% = 16.80% × 54.89
Mar 31, 2021 — = 16.48% × —
Dec 31, 2020 1,249.34% = 15.11% × 82.68
Sep 30, 2020 237.48% = 13.47% × 17.63
Jun 30, 2020 262.83% = 13.20% × 19.91
Mar 31, 2020 1,258.98% = 12.34% × 102.06
Dec 31, 2019 350.09% = 12.98% × 26.97
Sep 30, 2019 822.10% = 13.17% × 62.40
Jun 30, 2019 927.10% = 13.15% × 70.51
Mar 31, 2019 360.06% = 13.33% × 27.02
Dec 31, 2018 374.50% = 16.60% × 22.57
Sep 30, 2018 266.15% = 16.80% × 15.84
Jun 30, 2018 323.13% = 16.02% × 20.17
Mar 31, 2018 276.95% = 15.31% × 18.09
Dec 31, 2017 173.62% = 14.97% × 11.59
Sep 30, 2017 — = — × 12.18
Jun 30, 2017 — = — × 8.45
Mar 31, 2017 — = — × 5.06

Based on: 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), 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).

Three-Component Disaggregation of ROE

O’Reilly Automotive Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2022 — = 15.39% × 1.15 × —
Jun 30, 2022 — = 15.55% × 1.14 × —
Mar 31, 2022 — = 15.85% × 1.15 × —
Dec 31, 2021 — = 16.24% × 1.14 × —
Sep 30, 2021 — = 15.85% × 1.09 × —
Jun 30, 2021 922.05% = 15.94% × 1.05 × 54.89
Mar 31, 2021 — = 15.99% × 1.03 × —
Dec 31, 2020 1,249.34% = 15.10% × 1.00 × 82.68
Sep 30, 2020 237.48% = 14.96% × 0.90 × 17.63
Jun 30, 2020 262.83% = 14.45% × 0.91 × 19.91
Mar 31, 2020 1,258.98% = 13.41% × 0.92 × 102.06
Dec 31, 2019 350.09% = 13.70% × 0.95 × 26.97
Sep 30, 2019 822.10% = 13.69% × 0.96 × 62.40
Jun 30, 2019 927.10% = 13.69% × 0.96 × 70.51
Mar 31, 2019 360.06% = 13.87% × 0.96 × 27.02
Dec 31, 2018 374.50% = 13.89% × 1.19 × 22.57
Sep 30, 2018 266.15% = 14.09% × 1.19 × 15.84
Jun 30, 2018 323.13% = 13.42% × 1.19 × 20.17
Mar 31, 2018 276.95% = 12.89% × 1.19 × 18.09
Dec 31, 2017 173.62% = 12.63% × 1.19 × 11.59
Sep 30, 2017 — = — × — × 12.18
Jun 30, 2017 — = — × — × 8.45
Mar 31, 2017 — = — × — × 5.06

Based on: 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), 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).

Five-Component Disaggregation of ROE

O’Reilly Automotive Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2022 — = 0.77 × 0.95 × 20.96% × 1.15 × —
Jun 30, 2022 — = 0.78 × 0.95 × 21.09% × 1.14 × —
Mar 31, 2022 — = 0.78 × 0.95 × 21.44% × 1.15 × —
Dec 31, 2021 — = 0.78 × 0.95 × 21.96% × 1.14 × —
Sep 30, 2021 — = 0.77 × 0.95 × 21.66% × 1.09 × —
Jun 30, 2021 922.05% = 0.77 × 0.94 × 21.91% × 1.05 × 54.89
Mar 31, 2021 — = 0.77 × 0.94 × 22.11% × 1.03 × —
Dec 31, 2020 1,249.34% = 0.77 × 0.93 × 20.92% × 1.00 × 82.68
Sep 30, 2020 237.48% = 0.77 × 0.93 × 20.73% × 0.90 × 17.63
Jun 30, 2020 262.83% = 0.78 × 0.93 × 20.00% × 0.91 × 19.91
Mar 31, 2020 1,258.98% = 0.78 × 0.92 × 18.61% × 0.92 × 102.06
Dec 31, 2019 350.09% = 0.78 × 0.93 × 19.02% × 0.95 × 26.97
Sep 30, 2019 822.10% = 0.77 × 0.93 × 19.14% × 0.96 × 62.40
Jun 30, 2019 927.10% = 0.78 × 0.93 × 18.98% × 0.96 × 70.51
Mar 31, 2019 360.06% = 0.78 × 0.93 × 19.05% × 0.96 × 27.02
Dec 31, 2018 374.50% = 0.78 × 0.93 × 19.05% × 1.19 × 22.57
Sep 30, 2018 266.15% = 0.79 × 0.93 × 19.07% × 1.19 × 15.84
Jun 30, 2018 323.13% = 0.75 × 0.94 × 19.11% × 1.19 × 20.17
Mar 31, 2018 276.95% = 0.71 × 0.94 × 19.20% × 1.19 × 18.09
Dec 31, 2017 173.62% = 0.69 × 0.95 × 19.26% × 1.19 × 11.59
Sep 30, 2017 — = — × — × — × — × 12.18
Jun 30, 2017 — = — × — × — × — × 8.45
Mar 31, 2017 — = — × — × — × — × 5.06

Based on: 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), 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).

Two-Component Disaggregation of ROA

O’Reilly Automotive Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2022 17.67% = 15.39% × 1.15
Jun 30, 2022 17.70% = 15.55% × 1.14
Mar 31, 2022 18.24% = 15.85% × 1.15
Dec 31, 2021 18.47% = 16.24% × 1.14
Sep 30, 2021 17.29% = 15.85% × 1.09
Jun 30, 2021 16.80% = 15.94% × 1.05
Mar 31, 2021 16.48% = 15.99% × 1.03
Dec 31, 2020 15.11% = 15.10% × 1.00
Sep 30, 2020 13.47% = 14.96% × 0.90
Jun 30, 2020 13.20% = 14.45% × 0.91
Mar 31, 2020 12.34% = 13.41% × 0.92
Dec 31, 2019 12.98% = 13.70% × 0.95
Sep 30, 2019 13.17% = 13.69% × 0.96
Jun 30, 2019 13.15% = 13.69% × 0.96
Mar 31, 2019 13.33% = 13.87% × 0.96
Dec 31, 2018 16.60% = 13.89% × 1.19
Sep 30, 2018 16.80% = 14.09% × 1.19
Jun 30, 2018 16.02% = 13.42% × 1.19
Mar 31, 2018 15.31% = 12.89% × 1.19
Dec 31, 2017 14.97% = 12.63% × 1.19
Sep 30, 2017 — = — × —
Jun 30, 2017 — = — × —
Mar 31, 2017 — = — × —

Based on: 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), 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 decrease in return on assets ratio (ROA) over Q3 2022 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

O’Reilly Automotive Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2022 17.67% = 0.77 × 0.95 × 20.96% × 1.15
Jun 30, 2022 17.70% = 0.78 × 0.95 × 21.09% × 1.14
Mar 31, 2022 18.24% = 0.78 × 0.95 × 21.44% × 1.15
Dec 31, 2021 18.47% = 0.78 × 0.95 × 21.96% × 1.14
Sep 30, 2021 17.29% = 0.77 × 0.95 × 21.66% × 1.09
Jun 30, 2021 16.80% = 0.77 × 0.94 × 21.91% × 1.05
Mar 31, 2021 16.48% = 0.77 × 0.94 × 22.11% × 1.03
Dec 31, 2020 15.11% = 0.77 × 0.93 × 20.92% × 1.00
Sep 30, 2020 13.47% = 0.77 × 0.93 × 20.73% × 0.90
Jun 30, 2020 13.20% = 0.78 × 0.93 × 20.00% × 0.91
Mar 31, 2020 12.34% = 0.78 × 0.92 × 18.61% × 0.92
Dec 31, 2019 12.98% = 0.78 × 0.93 × 19.02% × 0.95
Sep 30, 2019 13.17% = 0.77 × 0.93 × 19.14% × 0.96
Jun 30, 2019 13.15% = 0.78 × 0.93 × 18.98% × 0.96
Mar 31, 2019 13.33% = 0.78 × 0.93 × 19.05% × 0.96
Dec 31, 2018 16.60% = 0.78 × 0.93 × 19.05% × 1.19
Sep 30, 2018 16.80% = 0.79 × 0.93 × 19.07% × 1.19
Jun 30, 2018 16.02% = 0.75 × 0.94 × 19.11% × 1.19
Mar 31, 2018 15.31% = 0.71 × 0.94 × 19.20% × 1.19
Dec 31, 2017 14.97% = 0.69 × 0.95 × 19.26% × 1.19
Sep 30, 2017 — = — × — × — × —
Jun 30, 2017 — = — × — × — × —
Mar 31, 2017 — = — × — × — × —

Based on: 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), 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 decrease in return on assets ratio (ROA) over Q3 2022 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

O’Reilly Automotive Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2022 15.39% = 0.77 × 0.95 × 20.96%
Jun 30, 2022 15.55% = 0.78 × 0.95 × 21.09%
Mar 31, 2022 15.85% = 0.78 × 0.95 × 21.44%
Dec 31, 2021 16.24% = 0.78 × 0.95 × 21.96%
Sep 30, 2021 15.85% = 0.77 × 0.95 × 21.66%
Jun 30, 2021 15.94% = 0.77 × 0.94 × 21.91%
Mar 31, 2021 15.99% = 0.77 × 0.94 × 22.11%
Dec 31, 2020 15.10% = 0.77 × 0.93 × 20.92%
Sep 30, 2020 14.96% = 0.77 × 0.93 × 20.73%
Jun 30, 2020 14.45% = 0.78 × 0.93 × 20.00%
Mar 31, 2020 13.41% = 0.78 × 0.92 × 18.61%
Dec 31, 2019 13.70% = 0.78 × 0.93 × 19.02%
Sep 30, 2019 13.69% = 0.77 × 0.93 × 19.14%
Jun 30, 2019 13.69% = 0.78 × 0.93 × 18.98%
Mar 31, 2019 13.87% = 0.78 × 0.93 × 19.05%
Dec 31, 2018 13.89% = 0.78 × 0.93 × 19.05%
Sep 30, 2018 14.09% = 0.79 × 0.93 × 19.07%
Jun 30, 2018 13.42% = 0.75 × 0.94 × 19.11%
Mar 31, 2018 12.89% = 0.71 × 0.94 × 19.20%
Dec 31, 2017 12.63% = 0.69 × 0.95 × 19.26%
Sep 30, 2017 — = — × — × —
Jun 30, 2017 — = — × — × —
Mar 31, 2017 — = — × — × —

Based on: 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), 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 decrease in net profit margin ratio over Q3 2022 is the decrease in operating profitability measured by EBIT margin ratio.