Stock Analysis on Net
Stock Analysis on Net

AmerisourceBergen Corp. (NYSE:ABC)

This company has been moved to the archive! The financial data has not been updated since August 2, 2023.

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

Microsoft Excel

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

Two-Component Disaggregation of ROE

AmerisourceBergen Corp., decomposition of ROE

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2022 — = 3.00% × —
Sep 30, 2021 689.46% = 2.69% × 256.71
Sep 30, 2020 — = -7.70% × —
Sep 30, 2019 29.71% = 2.18% × 13.61
Sep 30, 2018 56.55% = 4.40% × 12.84
Sep 30, 2017 17.66% = 1.03% × 17.11

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

Three-Component Disaggregation of ROE

AmerisourceBergen Corp., decomposition of ROE

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2022 — = 0.71% × 4.22 × —
Sep 30, 2021 689.46% = 0.72% × 3.73 × 256.71
Sep 30, 2020 — = -1.80% × 4.29 × —
Sep 30, 2019 29.71% = 0.48% × 4.58 × 13.61
Sep 30, 2018 56.55% = 0.99% × 4.46 × 12.84
Sep 30, 2017 17.66% = 0.24% × 4.34 × 17.11

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

Five-Component Disaggregation of ROE

AmerisourceBergen Corp., decomposition of ROE

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2022 — = 0.77 × 0.91 × 1.03% × 4.22 × —
Sep 30, 2021 689.46% = 0.69 × 0.92 × 1.12% × 3.73 × 256.71
Sep 30, 2020 — = — × — × -2.71% × 4.29 × —
Sep 30, 2019 29.71% = 0.88 × 0.83 × 0.65% × 4.58 × 13.61
Sep 30, 2018 56.55% = 1.36 × 0.87 × 0.84% × 4.46 × 12.84
Sep 30, 2017 17.66% = 0.40 × 0.86 × 0.70% × 4.34 × 17.11

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

Two-Component Disaggregation of ROA

AmerisourceBergen Corp., decomposition of ROA

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2022 3.00% = 0.71% × 4.22
Sep 30, 2021 2.69% = 0.72% × 3.73
Sep 30, 2020 -7.70% = -1.80% × 4.29
Sep 30, 2019 2.18% = 0.48% × 4.58
Sep 30, 2018 4.40% = 0.99% × 4.46
Sep 30, 2017 1.03% = 0.24% × 4.34

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

The primary reason for the increase in return on assets ratio (ROA) over 2022 year is the increase in asset turnover ratio.

Four-Component Disaggregation of ROA

AmerisourceBergen Corp., decomposition of ROA

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2022 3.00% = 0.77 × 0.91 × 1.03% × 4.22
Sep 30, 2021 2.69% = 0.69 × 0.92 × 1.12% × 3.73
Sep 30, 2020 -7.70% = — × — × -2.71% × 4.29
Sep 30, 2019 2.18% = 0.88 × 0.83 × 0.65% × 4.58
Sep 30, 2018 4.40% = 1.36 × 0.87 × 0.84% × 4.46
Sep 30, 2017 1.03% = 0.40 × 0.86 × 0.70% × 4.34

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

The primary reason for the increase in return on assets ratio (ROA) over 2022 year is the increase in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

AmerisourceBergen Corp., decomposition of net profit margin ratio

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2022 0.71% = 0.77 × 0.91 × 1.03%
Sep 30, 2021 0.72% = 0.69 × 0.92 × 1.12%
Sep 30, 2020 -1.80% = — × — × -2.71%
Sep 30, 2019 0.48% = 0.88 × 0.83 × 0.65%
Sep 30, 2018 0.99% = 1.36 × 0.87 × 0.84%
Sep 30, 2017 0.24% = 0.40 × 0.86 × 0.70%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

The primary reason for the decrease in net profit margin ratio over 2022 year is the decrease in operating profitability measured by EBIT margin ratio.