Stock Analysis on Net
Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

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

Hubbell Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2023 25.31% = 12.02% × 2.11
Jun 30, 2023 24.13% = 11.21% × 2.15
Mar 31, 2023 22.15% = 9.99% × 2.22
Dec 31, 2022 23.12% = 10.10% × 2.29
Sep 30, 2022 24.10% = 10.47% × 2.30
Jun 30, 2022 23.40% = 10.08% × 2.32
Mar 31, 2022 22.68% = 9.71% × 2.34
Dec 31, 2021 17.92% = 7.56% × 2.37
Sep 30, 2021 16.73% = 6.92% × 2.42
Jun 30, 2021 17.01% = 6.99% × 2.43
Mar 31, 2021 16.99% = 6.69% × 2.54
Dec 31, 2020 16.97% = 6.91% × 2.46
Sep 30, 2020 18.45% = 7.63% × 2.42
Jun 30, 2020 20.19% = 7.82% × 2.58
Mar 31, 2020 21.08% = 8.14% × 2.59
Dec 31, 2019 20.59% = 8.18% × 2.52
Sep 30, 2019 20.34% = 7.63% × 2.67
Jun 30, 2019 20.15% = 7.35% × 2.74
Mar 31, 2019 20.70% = 7.52% × 2.75
Dec 31, 2018 20.23% = 7.39% × 2.74
Sep 30, 2018 — = — × 2.85
Jun 30, 2018 — = — × 2.95
Mar 31, 2018 — = — × 2.99

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).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Hubbell Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2023 25.31% = 13.22% × 0.91 × 2.11
Jun 30, 2023 24.13% = 12.19% × 0.92 × 2.15
Mar 31, 2023 22.15% = 10.79% × 0.93 × 2.22
Dec 31, 2022 23.12% = 11.03% × 0.92 × 2.29
Sep 30, 2022 24.10% = 11.58% × 0.90 × 2.30
Jun 30, 2022 23.40% = 11.49% × 0.88 × 2.32
Mar 31, 2022 22.68% = 11.42% × 0.85 × 2.34
Dec 31, 2021 17.92% = 9.53% × 0.79 × 2.37
Sep 30, 2021 16.73% = 8.78% × 0.79 × 2.42
Jun 30, 2021 17.01% = 8.70% × 0.80 × 2.43
Mar 31, 2021 16.99% = 8.73% × 0.77 × 2.54
Dec 31, 2020 16.97% = 8.39% × 0.82 × 2.46
Sep 30, 2020 18.45% = 8.75% × 0.87 × 2.42
Jun 30, 2020 20.19% = 9.11% × 0.86 × 2.58
Mar 31, 2020 21.08% = 8.79% × 0.93 × 2.59
Dec 31, 2019 20.59% = 8.73% × 0.94 × 2.52
Sep 30, 2019 20.34% = 8.36% × 0.91 × 2.67
Jun 30, 2019 20.15% = 8.03% × 0.91 × 2.74
Mar 31, 2019 20.70% = 8.17% × 0.92 × 2.75
Dec 31, 2018 20.23% = 8.04% × 0.92 × 2.74
Sep 30, 2018 — = — × — × 2.85
Jun 30, 2018 — = — × — × 2.95
Mar 31, 2018 — = — × — × 2.99

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).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

Hubbell Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2023 25.31% = 0.76 × 0.96 × 18.01% × 0.91 × 2.11
Jun 30, 2023 24.13% = 0.77 × 0.95 × 16.66% × 0.92 × 2.15
Mar 31, 2023 22.15% = 0.77 × 0.94 × 14.89% × 0.93 × 2.22
Dec 31, 2022 23.12% = 0.80 × 0.93 × 14.87% × 0.92 × 2.29
Sep 30, 2022 24.10% = 0.81 × 0.93 × 15.33% × 0.90 × 2.30
Jun 30, 2022 23.40% = 0.82 × 0.92 × 15.22% × 0.88 × 2.32
Mar 31, 2022 22.68% = 0.84 × 0.92 × 14.82% × 0.85 × 2.34
Dec 31, 2021 17.92% = 0.82 × 0.90 × 12.93% × 0.79 × 2.37
Sep 30, 2021 16.73% = 0.81 × 0.89 × 12.18% × 0.79 × 2.42
Jun 30, 2021 17.01% = 0.81 × 0.89 × 12.18% × 0.80 × 2.43
Mar 31, 2021 16.99% = 0.79 × 0.88 × 12.56% × 0.77 × 2.54
Dec 31, 2020 16.97% = 0.78 × 0.88 × 12.16% × 0.82 × 2.46
Sep 30, 2020 18.45% = 0.78 × 0.88 × 12.75% × 0.87 × 2.42
Jun 30, 2020 20.19% = 0.78 × 0.89 × 13.17% × 0.86 × 2.58
Mar 31, 2020 21.08% = 0.78 × 0.89 × 12.71% × 0.93 × 2.59
Dec 31, 2019 20.59% = 0.78 × 0.88 × 12.71% × 0.94 × 2.52
Sep 30, 2019 20.34% = 0.78 × 0.88 × 12.25% × 0.91 × 2.67
Jun 30, 2019 20.15% = 0.78 × 0.87 × 11.81% × 0.91 × 2.74
Mar 31, 2019 20.70% = 0.77 × 0.87 × 12.14% × 0.92 × 2.75
Dec 31, 2018 20.23% = 0.78 × 0.86 × 11.90% × 0.92 × 2.74
Sep 30, 2018 — = — × — × — × — × 2.85
Jun 30, 2018 — = — × — × — × — × 2.95
Mar 31, 2018 — = — × — × — × — × 2.99

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).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

Hubbell Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2023 12.02% = 13.22% × 0.91
Jun 30, 2023 11.21% = 12.19% × 0.92
Mar 31, 2023 9.99% = 10.79% × 0.93
Dec 31, 2022 10.10% = 11.03% × 0.92
Sep 30, 2022 10.47% = 11.58% × 0.90
Jun 30, 2022 10.08% = 11.49% × 0.88
Mar 31, 2022 9.71% = 11.42% × 0.85
Dec 31, 2021 7.56% = 9.53% × 0.79
Sep 30, 2021 6.92% = 8.78% × 0.79
Jun 30, 2021 6.99% = 8.70% × 0.80
Mar 31, 2021 6.69% = 8.73% × 0.77
Dec 31, 2020 6.91% = 8.39% × 0.82
Sep 30, 2020 7.63% = 8.75% × 0.87
Jun 30, 2020 7.82% = 9.11% × 0.86
Mar 31, 2020 8.14% = 8.79% × 0.93
Dec 31, 2019 8.18% = 8.73% × 0.94
Sep 30, 2019 7.63% = 8.36% × 0.91
Jun 30, 2019 7.35% = 8.03% × 0.91
Mar 31, 2019 7.52% = 8.17% × 0.92
Dec 31, 2018 7.39% = 8.04% × 0.92
Sep 30, 2018 — = — × —
Jun 30, 2018 — = — × —
Mar 31, 2018 — = — × —

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).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2023 is the increase in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Hubbell Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2023 12.02% = 0.76 × 0.96 × 18.01% × 0.91
Jun 30, 2023 11.21% = 0.77 × 0.95 × 16.66% × 0.92
Mar 31, 2023 9.99% = 0.77 × 0.94 × 14.89% × 0.93
Dec 31, 2022 10.10% = 0.80 × 0.93 × 14.87% × 0.92
Sep 30, 2022 10.47% = 0.81 × 0.93 × 15.33% × 0.90
Jun 30, 2022 10.08% = 0.82 × 0.92 × 15.22% × 0.88
Mar 31, 2022 9.71% = 0.84 × 0.92 × 14.82% × 0.85
Dec 31, 2021 7.56% = 0.82 × 0.90 × 12.93% × 0.79
Sep 30, 2021 6.92% = 0.81 × 0.89 × 12.18% × 0.79
Jun 30, 2021 6.99% = 0.81 × 0.89 × 12.18% × 0.80
Mar 31, 2021 6.69% = 0.79 × 0.88 × 12.56% × 0.77
Dec 31, 2020 6.91% = 0.78 × 0.88 × 12.16% × 0.82
Sep 30, 2020 7.63% = 0.78 × 0.88 × 12.75% × 0.87
Jun 30, 2020 7.82% = 0.78 × 0.89 × 13.17% × 0.86
Mar 31, 2020 8.14% = 0.78 × 0.89 × 12.71% × 0.93
Dec 31, 2019 8.18% = 0.78 × 0.88 × 12.71% × 0.94
Sep 30, 2019 7.63% = 0.78 × 0.88 × 12.25% × 0.91
Jun 30, 2019 7.35% = 0.78 × 0.87 × 11.81% × 0.91
Mar 31, 2019 7.52% = 0.77 × 0.87 × 12.14% × 0.92
Dec 31, 2018 7.39% = 0.78 × 0.86 × 11.90% × 0.92
Sep 30, 2018 — = — × — × — × —
Jun 30, 2018 — = — × — × — × —
Mar 31, 2018 — = — × — × — × —

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).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Hubbell Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2023 13.22% = 0.76 × 0.96 × 18.01%
Jun 30, 2023 12.19% = 0.77 × 0.95 × 16.66%
Mar 31, 2023 10.79% = 0.77 × 0.94 × 14.89%
Dec 31, 2022 11.03% = 0.80 × 0.93 × 14.87%
Sep 30, 2022 11.58% = 0.81 × 0.93 × 15.33%
Jun 30, 2022 11.49% = 0.82 × 0.92 × 15.22%
Mar 31, 2022 11.42% = 0.84 × 0.92 × 14.82%
Dec 31, 2021 9.53% = 0.82 × 0.90 × 12.93%
Sep 30, 2021 8.78% = 0.81 × 0.89 × 12.18%
Jun 30, 2021 8.70% = 0.81 × 0.89 × 12.18%
Mar 31, 2021 8.73% = 0.79 × 0.88 × 12.56%
Dec 31, 2020 8.39% = 0.78 × 0.88 × 12.16%
Sep 30, 2020 8.75% = 0.78 × 0.88 × 12.75%
Jun 30, 2020 9.11% = 0.78 × 0.89 × 13.17%
Mar 31, 2020 8.79% = 0.78 × 0.89 × 12.71%
Dec 31, 2019 8.73% = 0.78 × 0.88 × 12.71%
Sep 30, 2019 8.36% = 0.78 × 0.88 × 12.25%
Jun 30, 2019 8.03% = 0.78 × 0.87 × 11.81%
Mar 31, 2019 8.17% = 0.77 × 0.87 × 12.14%
Dec 31, 2018 8.04% = 0.78 × 0.86 × 11.90%
Sep 30, 2018 — = — × — × —
Jun 30, 2018 — = — × — × —
Mar 31, 2018 — = — × — × —

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).

The primary reason for the increase in net profit margin ratio over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.