Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Two-Component Disaggregation of ROE
ROE | = | ROA | × | Financial Leverage | |
---|---|---|---|---|---|
May 26, 2019 | = | × | |||
May 27, 2018 | = | × | |||
May 28, 2017 | = | × | |||
May 29, 2016 | = | × | |||
May 31, 2015 | = | × | |||
May 25, 2014 | = | × |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in profitability measured by return on assets ratio (ROA).
Three-Component Disaggregation of ROE
ROE | = | Net Profit Margin | × | Asset Turnover | × | Financial Leverage | |
---|---|---|---|---|---|---|---|
May 26, 2019 | = | × | × | ||||
May 27, 2018 | = | × | × | ||||
May 28, 2017 | = | × | × | ||||
May 29, 2016 | = | × | × | ||||
May 31, 2015 | = | × | × | ||||
May 25, 2014 | = | × | × |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in profitability measured by net profit margin ratio.
Five-Component Disaggregation of ROE
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in effect of taxes measured by tax burden ratio.
Two-Component Disaggregation of ROA
ROA | = | Net Profit Margin | × | Asset Turnover | |
---|---|---|---|---|---|
May 26, 2019 | = | × | |||
May 27, 2018 | = | × | |||
May 28, 2017 | = | × | |||
May 29, 2016 | = | × | |||
May 31, 2015 | = | × | |||
May 25, 2014 | = | × |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in return on assets ratio (ROA) over 2019 year is the decrease in profitability measured by net profit margin ratio.
Four-Component Disaggregation of ROA
ROA | = | Tax Burden | × | Interest Burden | × | EBIT Margin | × | Asset Turnover | |
---|---|---|---|---|---|---|---|---|---|
May 26, 2019 | = | × | × | × | |||||
May 27, 2018 | = | × | × | × | |||||
May 28, 2017 | = | × | × | × | |||||
May 29, 2016 | = | × | × | × | |||||
May 31, 2015 | = | × | × | × | |||||
May 25, 2014 | = | × | × | × |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in return on assets ratio (ROA) over 2019 year is the decrease in effect of taxes measured by tax burden ratio.
Disaggregation of Net Profit Margin
Net Profit Margin | = | Tax Burden | × | Interest Burden | × | EBIT Margin | |
---|---|---|---|---|---|---|---|
May 26, 2019 | = | × | × | ||||
May 27, 2018 | = | × | × | ||||
May 28, 2017 | = | × | × | ||||
May 29, 2016 | = | × | × | ||||
May 31, 2015 | = | × | × | ||||
May 25, 2014 | = | × | × |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
The primary reason for the decrease in net profit margin ratio over 2019 year is the decrease in effect of taxes measured by tax burden ratio.