Stock Analysis on Net
Stock Analysis on Net

National Oilwell Varco Inc. (NYSE:NOV)

This company has been moved to the archive! The financial data has not been updated since August 3, 2016.

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

National Oilwell Varco Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Jun 30, 2016 -10.57% = -7.16% × 1.48
Mar 31, 2016 -7.32% = -4.84% × 1.51
Dec 31, 2015 -4.69% = -2.88% × 1.63
Sep 30, 2015 7.44% = 4.55% × 1.63
Jun 30, 2015 10.00% = 6.06% × 1.65
Mar 31, 2015 11.68% = 6.86% × 1.70
Dec 31, 2014 12.09% = 7.45% × 1.62
Sep 30, 2014 11.92% = 7.48% × 1.59
Jun 30, 2014 11.73% = 7.40% × 1.59
Mar 31, 2014 10.64% = 6.80% × 1.56
Dec 31, 2013 10.47% = 6.68% × 1.57
Sep 30, 2013 10.81% = 6.74% × 1.60
Jun 30, 2013 11.09% = 6.89% × 1.61
Mar 31, 2013 11.62% = 7.11% × 1.63
Dec 31, 2012 12.31% = 7.91% × 1.56
Sep 30, 2012 12.25% = 8.36% × 1.46
Jun 30, 2012 12.31% = 8.32% × 1.48
Mar 31, 2012 11.91% = 8.34% × 1.43
Dec 31, 2011 11.32% = 7.82% × 1.45
Sep 30, 2011 — = — × 1.43
Jun 30, 2011 — = — × 1.41
Mar 31, 2011 — = — × 1.42

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Three-Component Disaggregation of ROE

National Oilwell Varco Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Jun 30, 2016 -10.57% = -17.14% × 0.42 × 1.48
Mar 31, 2016 -7.32% = -9.88% × 0.49 × 1.51
Dec 31, 2015 -4.69% = -5.21% × 0.55 × 1.63
Sep 30, 2015 7.44% = 7.60% × 0.60 × 1.63
Jun 30, 2015 10.00% = 9.45% × 0.64 × 1.65
Mar 31, 2015 11.68% = 10.40% × 0.66 × 1.70
Dec 31, 2014 12.09% = 11.67% × 0.64 × 1.62
Sep 30, 2014 11.92% = 11.71% × 0.64 × 1.59
Jun 30, 2014 11.73% = 11.32% × 0.65 × 1.59
Mar 31, 2014 10.64% = 10.75% × 0.63 × 1.56
Dec 31, 2013 10.47% = 10.18% × 0.66 × 1.57
Sep 30, 2013 10.81% = 10.44% × 0.65 × 1.60
Jun 30, 2013 11.09% = 10.56% × 0.65 × 1.61
Mar 31, 2013 11.62% = 11.34% × 0.63 × 1.63
Dec 31, 2012 12.31% = 12.43% × 0.64 × 1.56
Sep 30, 2012 12.25% = 12.88% × 0.65 × 1.46
Jun 30, 2012 12.31% = 13.60% × 0.61 × 1.48
Mar 31, 2012 11.91% = 13.87% × 0.60 × 1.43
Dec 31, 2011 11.32% = 13.60% × 0.57 × 1.45
Sep 30, 2011 — = — × — × 1.43
Jun 30, 2011 — = — × — × 1.41
Mar 31, 2011 — = — × — × 1.42

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Five-Component Disaggregation of ROE

National Oilwell Varco Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Jun 30, 2016 -10.57% = — × — × -19.65% × 0.42 × 1.48
Mar 31, 2016 -7.32% = — × — × -10.10% × 0.49 × 1.51
Dec 31, 2015 -4.69% = — × — × -3.31% × 0.55 × 1.63
Sep 30, 2015 7.44% = 0.71 × 0.95 × 11.35% × 0.60 × 1.63
Jun 30, 2015 10.00% = 0.70 × 0.96 × 14.02% × 0.64 × 1.65
Mar 31, 2015 11.68% = 0.69 × 0.97 × 15.52% × 0.66 × 1.70
Dec 31, 2014 12.09% = 0.71 × 0.97 × 17.01% × 0.64 × 1.62
Sep 30, 2014 11.92% = 0.70 × 0.97 × 17.12% × 0.64 × 1.59
Jun 30, 2014 11.73% = 0.70 × 0.97 × 16.67% × 0.65 × 1.59
Mar 31, 2014 10.64% = 0.70 × 0.97 × 15.84% × 0.63 × 1.56
Dec 31, 2013 10.47% = 0.70 × 0.97 × 15.11% × 0.66 × 1.57
Sep 30, 2013 10.81% = 0.71 × 0.97 × 15.15% × 0.65 × 1.60
Jun 30, 2013 11.09% = 0.71 × 0.97 × 15.22% × 0.65 × 1.61
Mar 31, 2013 11.62% = 0.71 × 0.98 × 16.31% × 0.63 × 1.63
Dec 31, 2012 12.31% = 0.71 × 0.99 × 17.77% × 0.64 × 1.56
Sep 30, 2012 12.25% = 0.69 × 0.99 × 18.93% × 0.65 × 1.46
Jun 30, 2012 12.31% = 0.68 × 0.99 × 20.12% × 0.61 × 1.48
Mar 31, 2012 11.91% = 0.68 × 0.99 × 20.51% × 0.60 × 1.43
Dec 31, 2011 11.32% = 0.68 × 0.99 × 20.27% × 0.57 × 1.45
Sep 30, 2011 — = — × — × — × — × 1.43
Jun 30, 2011 — = — × — × — × — × 1.41
Mar 31, 2011 — = — × — × — × — × 1.42

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Two-Component Disaggregation of ROA

National Oilwell Varco Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Jun 30, 2016 -7.16% = -17.14% × 0.42
Mar 31, 2016 -4.84% = -9.88% × 0.49
Dec 31, 2015 -2.88% = -5.21% × 0.55
Sep 30, 2015 4.55% = 7.60% × 0.60
Jun 30, 2015 6.06% = 9.45% × 0.64
Mar 31, 2015 6.86% = 10.40% × 0.66
Dec 31, 2014 7.45% = 11.67% × 0.64
Sep 30, 2014 7.48% = 11.71% × 0.64
Jun 30, 2014 7.40% = 11.32% × 0.65
Mar 31, 2014 6.80% = 10.75% × 0.63
Dec 31, 2013 6.68% = 10.18% × 0.66
Sep 30, 2013 6.74% = 10.44% × 0.65
Jun 30, 2013 6.89% = 10.56% × 0.65
Mar 31, 2013 7.11% = 11.34% × 0.63
Dec 31, 2012 7.91% = 12.43% × 0.64
Sep 30, 2012 8.36% = 12.88% × 0.65
Jun 30, 2012 8.32% = 13.60% × 0.61
Mar 31, 2012 8.34% = 13.87% × 0.60
Dec 31, 2011 7.82% = 13.60% × 0.57
Sep 30, 2011 — = — × —
Jun 30, 2011 — = — × —
Mar 31, 2011 — = — × —

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Four-Component Disaggregation of ROA

National Oilwell Varco Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Jun 30, 2016 -7.16% = — × — × -19.65% × 0.42
Mar 31, 2016 -4.84% = — × — × -10.10% × 0.49
Dec 31, 2015 -2.88% = — × — × -3.31% × 0.55
Sep 30, 2015 4.55% = 0.71 × 0.95 × 11.35% × 0.60
Jun 30, 2015 6.06% = 0.70 × 0.96 × 14.02% × 0.64
Mar 31, 2015 6.86% = 0.69 × 0.97 × 15.52% × 0.66
Dec 31, 2014 7.45% = 0.71 × 0.97 × 17.01% × 0.64
Sep 30, 2014 7.48% = 0.70 × 0.97 × 17.12% × 0.64
Jun 30, 2014 7.40% = 0.70 × 0.97 × 16.67% × 0.65
Mar 31, 2014 6.80% = 0.70 × 0.97 × 15.84% × 0.63
Dec 31, 2013 6.68% = 0.70 × 0.97 × 15.11% × 0.66
Sep 30, 2013 6.74% = 0.71 × 0.97 × 15.15% × 0.65
Jun 30, 2013 6.89% = 0.71 × 0.97 × 15.22% × 0.65
Mar 31, 2013 7.11% = 0.71 × 0.98 × 16.31% × 0.63
Dec 31, 2012 7.91% = 0.71 × 0.99 × 17.77% × 0.64
Sep 30, 2012 8.36% = 0.69 × 0.99 × 18.93% × 0.65
Jun 30, 2012 8.32% = 0.68 × 0.99 × 20.12% × 0.61
Mar 31, 2012 8.34% = 0.68 × 0.99 × 20.51% × 0.60
Dec 31, 2011 7.82% = 0.68 × 0.99 × 20.27% × 0.57
Sep 30, 2011 — = — × — × — × —
Jun 30, 2011 — = — × — × — × —
Mar 31, 2011 — = — × — × — × —

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Disaggregation of Net Profit Margin

National Oilwell Varco Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Jun 30, 2016 -17.14% = — × — × -19.65%
Mar 31, 2016 -9.88% = — × — × -10.10%
Dec 31, 2015 -5.21% = — × — × -3.31%
Sep 30, 2015 7.60% = 0.71 × 0.95 × 11.35%
Jun 30, 2015 9.45% = 0.70 × 0.96 × 14.02%
Mar 31, 2015 10.40% = 0.69 × 0.97 × 15.52%
Dec 31, 2014 11.67% = 0.71 × 0.97 × 17.01%
Sep 30, 2014 11.71% = 0.70 × 0.97 × 17.12%
Jun 30, 2014 11.32% = 0.70 × 0.97 × 16.67%
Mar 31, 2014 10.75% = 0.70 × 0.97 × 15.84%
Dec 31, 2013 10.18% = 0.70 × 0.97 × 15.11%
Sep 30, 2013 10.44% = 0.71 × 0.97 × 15.15%
Jun 30, 2013 10.56% = 0.71 × 0.97 × 15.22%
Mar 31, 2013 11.34% = 0.71 × 0.98 × 16.31%
Dec 31, 2012 12.43% = 0.71 × 0.99 × 17.77%
Sep 30, 2012 12.88% = 0.69 × 0.99 × 18.93%
Jun 30, 2012 13.60% = 0.68 × 0.99 × 20.12%
Mar 31, 2012 13.87% = 0.68 × 0.99 × 20.51%
Dec 31, 2011 13.60% = 0.68 × 0.99 × 20.27%
Sep 30, 2011 — = — × — × —
Jun 30, 2011 — = — × — × —
Mar 31, 2011 — = — × — × —

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).