Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.
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- Income Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2008
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Two-Component Disaggregation of ROE
ROE | = | ROA | × | Financial Leverage | |
---|---|---|---|---|---|
Jan 28, 2023 | = | × | |||
Jan 29, 2022 | = | × | |||
Jan 30, 2021 | = | × | |||
Feb 1, 2020 | = | × | |||
Feb 2, 2019 | = | × | |||
Feb 3, 2018 | = | × |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.
Three-Component Disaggregation of ROE
ROE | = | Net Profit Margin | × | Asset Turnover | × | Financial Leverage | |
---|---|---|---|---|---|---|---|
Jan 28, 2023 | = | × | × | ||||
Jan 29, 2022 | = | × | × | ||||
Jan 30, 2021 | = | × | × | ||||
Feb 1, 2020 | = | × | × | ||||
Feb 2, 2019 | = | × | × | ||||
Feb 3, 2018 | = | × | × |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.
Five-Component Disaggregation of ROE
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.
Two-Component Disaggregation of ROA
ROA | = | Net Profit Margin | × | Asset Turnover | |
---|---|---|---|---|---|
Jan 28, 2023 | = | × | |||
Jan 29, 2022 | = | × | |||
Jan 30, 2021 | = | × | |||
Feb 1, 2020 | = | × | |||
Feb 2, 2019 | = | × | |||
Feb 3, 2018 | = | × |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the increase in return on assets ratio (ROA) over 2023 year is the increase in profitability measured by net profit margin ratio.
Four-Component Disaggregation of ROA
ROA | = | Tax Burden | × | Interest Burden | × | EBIT Margin | × | Asset Turnover | |
---|---|---|---|---|---|---|---|---|---|
Jan 28, 2023 | = | × | × | × | |||||
Jan 29, 2022 | = | × | × | × | |||||
Jan 30, 2021 | = | × | × | × | |||||
Feb 1, 2020 | = | × | × | × | |||||
Feb 2, 2019 | = | × | × | × | |||||
Feb 3, 2018 | = | × | × | × |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the increase in return on assets ratio (ROA) over 2023 year is the increase in operating profitability measured by EBIT margin ratio.
Disaggregation of Net Profit Margin
Net Profit Margin | = | Tax Burden | × | Interest Burden | × | EBIT Margin | |
---|---|---|---|---|---|---|---|
Jan 28, 2023 | = | × | × | ||||
Jan 29, 2022 | = | × | × | ||||
Jan 30, 2021 | = | × | × | ||||
Feb 1, 2020 | = | × | × | ||||
Feb 2, 2019 | = | × | × | ||||
Feb 3, 2018 | = | × | × |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The primary reason for the increase in net profit margin ratio over 2023 year is the increase in operating profitability measured by EBIT margin ratio.