Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Profitability Ratios (Summary)
National Oilwell Varco Inc., profitability ratios (quarterly data)
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).
The analysis of the quarterly financial metrics demonstrates a clear downward trend across profitability and return indicators over the observed periods.
- Gross Profit Margin
- The gross profit margin began at 30.68% in March 2012 and exhibited a consistent decline throughout subsequent quarters, reducing to 13.18% by June 2016. This suggests a gradual erosion in the core profitability of operations, potentially due to increased costs or pricing pressures.
- Operating Profit Margin
- This margin started near 20.04% in March 2012 and showed a gradual decrease through 2014 and 2015, reaching negative territory from March 2016 onwards with the margin falling to -18.68% by June 2016. The negative operating margins in the later quarters indicate significant operational challenges leading to losses before interest and taxes.
- Net Profit Margin
- The net profit margin followed a similar pattern as operating margin, starting at 13.6% in March 2012 and declining progressively to negative values beginning in March 2016, ending at -17.14% by June 2016. This reflects not only decreases in operational efficiency but also the impact of other expenses, taxes, or losses affecting the bottom line.
- Return on Equity (ROE)
- ROE showed moderate stability with values just above 11% through most of the period until 2015. However, it suffered a sharp decline entering 2016, dropping to -10.57% by June 2016. This transition into negative territory signals deteriorating shareholder value creation during the last measured quarters.
- Return on Assets (ROA)
- The ROA demonstrated a similar pattern, maintaining around 7-8% through 2012 to 2014, with gradual weakening thereafter and a marked decline into negative values by 2016, reaching -7.16%. This indicates diminishing efficiency in asset utilization to generate profit over time.
Overall, the financial ratios reveal significant weakening in profitability and returns from 2012 onwards, with particularly steep declines starting in late 2015 and continuing through mid-2016. The shift into negative operating, net profit margins, and returns indicates substantial financial distress or operational upheaval in the most recent quarters analyzed.
Return on Sales
Return on Investment
Gross Profit Margin
National Oilwell Varco Inc., gross profit margin calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | |||||||||||||||||||||||||||||
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).
1 Q2 2016 Calculation
Gross profit margin = 100
× (Gross profitQ2 2016
+ Gross profitQ1 2016
+ Gross profitQ4 2015
+ Gross profitQ3 2015)
÷ (RevenueQ2 2016
+ RevenueQ1 2016
+ RevenueQ4 2015
+ RevenueQ3 2015)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The quarterly financial data reveals distinct trends in gross profit, revenue, and gross profit margin over the observed periods.
- Gross Profit
- The gross profit demonstrates a general increasing trend from the first quarter of 2011 until the end of 2014, rising from 975 million US$ to a peak of approximately 1,536 million US$. This period is characterized by steady growth with some fluctuations. However, starting in 2015, there is a pronounced decline in gross profit, reaching a low of 35 million US$ by mid-2016. This sharp decrease reflects a significant contraction in profitability during this period.
- Revenue
- Revenue shows a consistent upward trajectory from early 2011 through late 2013, increasing from roughly 3,146 million US$ to more than 6,000 million US$ by the end of 2013. The highest levels are achieved in late 2013 with values near 6,172 million US$. Subsequently, revenue begins to decrease significantly from 2014 onwards, plummeting to approximately 1,724 million US$ by mid-2016. This decline suggests challenges in sales volume or pricing impacting overall revenue generation.
- Gross Profit Margin
- The gross profit margin data is available from the first quarter of 2012. It starts near 30.68%, declining gradually over time. The margin moves downward to a level close to 24% by the end of 2013, indicating a slight reduction in profitability relative to revenue. From 2014 through mid-2016, the margin continues decreasing more sharply, dropping to approximately 13.18%. This persistent margin compression signals increasing costs or deteriorating pricing power, contributing to reduced operational efficiency and profitability.
Overall, the data depict a period of growth in both revenue and gross profit until around 2013-2014, followed by a period of marked decline in both measures. The downward trend in gross profit margin emphasizes challenges in maintaining profitability despite earlier revenue increases. This pattern suggests external or internal factors adversely affecting cost structures and sales performance starting in 2014 through mid-2016.
Operating Profit Margin
National Oilwell Varco Inc., operating profit margin calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating profit (loss) | |||||||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | |||||||||||||||||||||||||||||
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).
1 Q2 2016 Calculation
Operating profit margin = 100
× (Operating profit (loss)Q2 2016
+ Operating profit (loss)Q1 2016
+ Operating profit (loss)Q4 2015
+ Operating profit (loss)Q3 2015)
÷ (RevenueQ2 2016
+ RevenueQ1 2016
+ RevenueQ4 2015
+ RevenueQ3 2015)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The operating profit demonstrated a rising trend from March 2011 through December 2012, increasing from 609 million US dollars to 903 million US dollars. Subsequently, it experienced fluctuations but largely maintained a range above 700 million US dollars until March 2014. After this period, the operating profit showed a declining trajectory, becoming negative starting from December 2015 with a significant loss of 1,632 million US dollars and remaining in negative territory through June 2016.
Revenue exhibited consistent growth from March 2011, rising from 3,146 million US dollars to a peak of 6,172 million US dollars in December 2013. Following this peak, a downward trend was observed, with revenue decreasing to 1,724 million US dollars by June 2016.
The operating profit margin data, available from March 2012 onward, revealed a gradual decline over the observed periods. The margin decreased from approximately 20.04% in March 2012 to -18.68% in June 2016. This decline in profitability margin reflects the deterioration in operational efficiency and profitability, peaking positively through mid-2014 and then sharply reversing into negative margins towards the end of the period.
- Summary of Trends
-
Both operating profit and revenue showed growth up to mid-2013, followed by a decline through mid-2016. The initial positive operating profit margin above 15% shifted to negative territory as losses mounted. The data indicates a period of solid financial performance through 2013 and early 2014, succeeded by significant operational challenges that eroded profit margins and resulted in negative profitability in later periods.
Net Profit Margin
National Oilwell Varco Inc., net profit margin calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Company | |||||||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | |||||||||||||||||||||||||||||
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).
1 Q2 2016 Calculation
Net profit margin = 100
× (Net income (loss) attributable to CompanyQ2 2016
+ Net income (loss) attributable to CompanyQ1 2016
+ Net income (loss) attributable to CompanyQ4 2015
+ Net income (loss) attributable to CompanyQ3 2015)
÷ (RevenueQ2 2016
+ RevenueQ1 2016
+ RevenueQ4 2015
+ RevenueQ3 2015)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The analysis of the quarterly financial data indicates several distinct trends in the company's performance over the observed periods.
- Net Income
-
Net income showed a generally positive trajectory from early 2011 through 2014, increasing from 407 million USD in March 2011 to peak values close to 699 million USD in September 2014. This period reflects consistent profitability. However, starting in 2015, net income began to decline sharply, culminating in significant losses by the end of 2015 and continuing negative figures into 2016. The transition from positive to negative net income suggests a considerable downturn in the company's profitability during this time frame.
- Revenue
-
Revenue increased steadily from 3.1 billion USD in the first quarter of 2011 to approximately 5.7 billion USD by the end of 2014, indicating expanding sales or service delivery. This growth trend aligns with the increasing net income observed during the same period. However, beginning in 2015, revenue experienced a notable decline, dropping from around 4.8 billion USD in the first quarter to 1.7 billion USD by mid-2016. This substantial reduction in revenue reflects a significant contraction in business volume or market demand.
- Net Profit Margin
-
The net profit margin was relatively stable from 2011 through 2014, fluctuating mostly between 10% and 13.9%. This stability suggests that the company maintained consistent profitability relative to its revenue during this period. Starting in 2015, the net profit margin deteriorated markedly, dropping below zero in early 2016 and reaching approximately -17% by mid-2016. The negative margins correspond to reported net losses and indicate a period of operational or financial stress with losses surpassing revenues.
- Overall Summary
-
The data reveals a period of growth and stable profitability from 2011 through 2014, followed by a pronounced decline in both revenue and net income beginning in 2015 and intensifying into 2016. The deterioration in net profit margin underscores increasing challenges in maintaining profitability relative to shrinking revenue. These trends point to a potentially adverse shift in market conditions, operational difficulties, or other external factors impacting the company’s financial performance during the latter period.
Return on Equity (ROE)
National Oilwell Varco Inc., ROE calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Company | |||||||||||||||||||||||||||||
| Total Company stockholders’ equity | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | |||||||||||||||||||||||||||||
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).
1 Q2 2016 Calculation
ROE = 100
× (Net income (loss) attributable to CompanyQ2 2016
+ Net income (loss) attributable to CompanyQ1 2016
+ Net income (loss) attributable to CompanyQ4 2015
+ Net income (loss) attributable to CompanyQ3 2015)
÷ Total Company stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data exhibits several notable trends over the analyzed quarters. Net income attributable to the company generally increased from March 2011 through December 2014, reaching a peak near the end of 2014. However, starting in early 2015, net income experienced a sharp decline, turning negative and remaining in loss territory through mid-2016.
Total company stockholders’ equity showed a steady upward trend from March 2011 to March 2014, indicating growth in shareholder value during this period. Following this peak, equity levels fluctuated with a general downward tendency from mid-2014 through mid-2016, suggestive of possible challenges impacting retained earnings or capital structure.
Return on Equity (ROE) data, available from the first quarter of 2012, initially demonstrated consistent and relatively stable performance, mostly ranging between approximately 10.5% and 12.5%. After peaking around 12.31% in late 2013 and early 2014, ROE started to decline by late 2014 and turned negative during 2015 and continued to worsen through mid-2016. This decline aligns with the periods of net income losses and signals decreasing profitability relative to equity.
- Net Income Trends
- Positive growth from early 2011 up to final quarters of 2014, followed by a pronounced downturn resulting in losses through 2015 and the first half of 2016.
- Stockholders’ Equity Trends
- Consistent increase in equity from 2011 to early 2014; afterwards, equity levels declined moderately, reflecting possible impacts from operational losses or capital adjustments.
- Return on Equity (ROE)
- Stable and relatively strong ROE through 2012 to early 2014, with rates averaging around 11-12%. Post-2014, ROE deteriorated sharply, becoming negative in 2015 and further into 2016, highlighting profitability challenges.
Overall, the data indicates a period of financial strength and growth through early 2014, followed by a period of financial stress characterized by negative earnings and reduced equity returns. The alignment of declining net income with falling ROE suggests operational difficulties impacting the company’s profitability and returns to shareholders during the latter part of the timeframe.
Return on Assets (ROA)
National Oilwell Varco Inc., ROA calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Company | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | |||||||||||||||||||||||||||||
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).
1 Q2 2016 Calculation
ROA = 100
× (Net income (loss) attributable to CompanyQ2 2016
+ Net income (loss) attributable to CompanyQ1 2016
+ Net income (loss) attributable to CompanyQ4 2015
+ Net income (loss) attributable to CompanyQ3 2015)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals several notable trends concerning profitability, asset base, and return on assets over the analyzed periods.
- Net Income (Loss) Attributable to Company (US$ in millions)
- Net income demonstrated an overall growth trajectory from early 2011 through 2014, increasing from $407 million to a peak of $699 million by the third quarter of 2014. The values exhibited relative stability with minor fluctuations within this timeframe.
- Beginning in 2015, the company experienced a pronounced decline in profitability, culminating in net losses by the end of 2015 and early 2016. The sharpest decline occurred in the fourth quarter of 2015, recording a net loss of $1,523 million, followed by sustained negative figures, indicating significant financial strain during these periods.
- Total Assets (US$ in millions)
- Total assets consistently increased from $23,156 million in the first quarter of 2011 to a peak of $35,480 million at the first quarter of 2014. This steady growth suggests continued investments or asset acquisitions over these years.
- After peaking, total assets started to decline gradually from mid-2014 onward, falling to $23,784 million by the second quarter of 2016. This downward trend may reflect asset divestitures, impairments, or reduced investment activity in response to changing business conditions.
- Return on Assets (ROA, %)
- ROA data, available from the third quarter of 2011, shows a generally stable and positive return between approximately 7.8% and 7.4% through early 2014, indicating effective asset utilization during this period.
- Following 2014, a declining trend emerges in ROA, decreasing steadily from 7.45% to negative returns by 2015 and 2016. The negative ROA values, reaching as low as -7.16% in mid-2016, signify that the company’s assets were yielding losses rather than profits in these later periods.
Overall, the data reflects a growth phase characterized by increasing net income and asset base up to early 2014, followed by a significant downturn affecting profitability and asset efficiency in the subsequent years through mid-2016. The decline in these key financial metrics points to challenges faced by the company in maintaining operational profitability and asset utilization during the latter periods.