Stock Analysis on Net
Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

This company has been moved to the archive! The financial data has not been updated since May 1, 2024.

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

Johnson Controls International plc, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 31, 2024 10.83% = 3.90% × 2.78
Dec 31, 2023 12.61% = 4.79% × 2.63
Sep 30, 2023 11.18% = 4.38% × 2.55
Jun 30, 2023 12.63% = 4.82% × 2.62
Mar 31, 2023 8.75% = 3.20% × 2.73
Dec 31, 2022 7.91% = 2.97% × 2.67
Sep 30, 2022 9.42% = 3.63% × 2.59
Jun 30, 2022 6.50% = 2.46% × 2.65
Mar 31, 2022 7.47% = 2.87% × 2.60
Dec 31, 2021 9.08% = 3.71% × 2.45
Sep 30, 2021 9.32% = 3.91% × 2.39
Jun 30, 2021 10.14% = 4.29% × 2.36
Mar 31, 2021 5.95% = 2.56% × 2.33
Dec 31, 2020 5.23% = 2.23% × 2.35
Sep 30, 2020 3.62% = 1.55% × 2.34
Jun 30, 2020 4.50% = 1.94% × 2.32
Mar 31, 2020 28.62% = 12.81% × 2.23
Dec 31, 2019 28.34% = 12.89% × 2.20
Sep 30, 2019 28.71% = 13.42% × 2.14
Jun 30, 2019 28.65% = 13.54% × 2.12
Mar 31, 2019 11.80% = 4.88% × 2.42
Dec 31, 2018 11.38% = 4.76% × 2.39
Sep 30, 2018 10.22% = 4.43% × 2.31
Jun 30, 2018 — = — × 2.38
Mar 31, 2018 — = — × 2.39
Dec 31, 2017 — = — × 2.42

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2024 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Johnson Controls International plc, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2024 10.83% = 6.32% × 0.62 × 2.78
Dec 31, 2023 12.61% = 7.85% × 0.61 × 2.63
Sep 30, 2023 11.18% = 6.90% × 0.63 × 2.55
Jun 30, 2023 12.63% = 7.74% × 0.62 × 2.62
Mar 31, 2023 8.75% = 5.33% × 0.60 × 2.73
Dec 31, 2022 7.91% = 4.98% × 0.60 × 2.67
Sep 30, 2022 9.42% = 6.06% × 0.60 × 2.59
Jun 30, 2022 6.50% = 4.17% × 0.59 × 2.65
Mar 31, 2022 7.47% = 5.00% × 0.57 × 2.60
Dec 31, 2021 9.08% = 6.48% × 0.57 × 2.45
Sep 30, 2021 9.32% = 6.92% × 0.57 × 2.39
Jun 30, 2021 10.14% = 7.79% × 0.55 × 2.36
Mar 31, 2021 5.95% = 4.74% × 0.54 × 2.33
Dec 31, 2020 5.23% = 4.18% × 0.53 × 2.35
Sep 30, 2020 3.62% = 2.83% × 0.55 × 2.34
Jun 30, 2020 4.50% = 3.54% × 0.55 × 2.32
Mar 31, 2020 28.62% = 21.80% × 0.59 × 2.23
Dec 31, 2019 28.34% = 22.75% × 0.57 × 2.20
Sep 30, 2019 28.71% = 23.67% × 0.57 × 2.14
Jun 30, 2019 28.65% = 22.38% × 0.61 × 2.12
Mar 31, 2019 11.80% = 8.52% × 0.57 × 2.42
Dec 31, 2018 11.38% = 7.77% × 0.61 × 2.39
Sep 30, 2018 10.22% = 6.89% × 0.64 × 2.31
Jun 30, 2018 — = — × — × 2.38
Mar 31, 2018 — = — × — × 2.39
Dec 31, 2017 — = — × — × 2.42

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2024 is the decrease in profitability measured by net profit margin ratio.

Two-Component Disaggregation of ROA

Johnson Controls International plc, decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2024 3.90% = 6.32% × 0.62
Dec 31, 2023 4.79% = 7.85% × 0.61
Sep 30, 2023 4.38% = 6.90% × 0.63
Jun 30, 2023 4.82% = 7.74% × 0.62
Mar 31, 2023 3.20% = 5.33% × 0.60
Dec 31, 2022 2.97% = 4.98% × 0.60
Sep 30, 2022 3.63% = 6.06% × 0.60
Jun 30, 2022 2.46% = 4.17% × 0.59
Mar 31, 2022 2.87% = 5.00% × 0.57
Dec 31, 2021 3.71% = 6.48% × 0.57
Sep 30, 2021 3.91% = 6.92% × 0.57
Jun 30, 2021 4.29% = 7.79% × 0.55
Mar 31, 2021 2.56% = 4.74% × 0.54
Dec 31, 2020 2.23% = 4.18% × 0.53
Sep 30, 2020 1.55% = 2.83% × 0.55
Jun 30, 2020 1.94% = 3.54% × 0.55
Mar 31, 2020 12.81% = 21.80% × 0.59
Dec 31, 2019 12.89% = 22.75% × 0.57
Sep 30, 2019 13.42% = 23.67% × 0.57
Jun 30, 2019 13.54% = 22.38% × 0.61
Mar 31, 2019 4.88% = 8.52% × 0.57
Dec 31, 2018 4.76% = 7.77% × 0.61
Sep 30, 2018 4.43% = 6.89% × 0.64
Jun 30, 2018 — = — × —
Mar 31, 2018 — = — × —
Dec 31, 2017 — = — × —

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2024 is the decrease in profitability measured by net profit margin ratio.