Stock Analysis on Net
Stock Analysis on Net

EMC Corp. (NYSE:EMC)

This company has been moved to the archive! The financial data has not been updated since August 8, 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

EMC Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Jun 30, 2016 9.49% = 4.49% × 2.11
Mar 31, 2016 9.30% = 4.39% × 2.12
Dec 31, 2015 9.41% = 4.27% × 2.20
Sep 30, 2015 11.57% = 5.22% × 2.22
Jun 30, 2015 12.31% = 5.51% × 2.23
Mar 31, 2015 12.59% = 5.95% × 2.12
Dec 31, 2014 12.39% = 5.91% × 2.10
Sep 30, 2014 11.43% = 5.75% × 1.99
Jun 30, 2014 11.60% = 5.83% × 1.99
Mar 31, 2014 12.03% = 6.13% × 1.96
Dec 31, 2013 12.95% = 6.30% × 2.06
Sep 30, 2013 12.26% = 6.14% × 2.00
Jun 30, 2013 12.29% = 6.26% × 1.97
Mar 31, 2013 12.03% = 7.13% × 1.69
Dec 31, 2012 12.22% = 7.18% × 1.70
Sep 30, 2012 12.42% = 7.38% × 1.68
Jun 30, 2012 12.77% = 7.65% × 1.67
Mar 31, 2012 12.82% = 7.57% × 1.69
Dec 31, 2011 12.98% = 7.18% × 1.81
Sep 30, 2011 — = — × 1.81
Jun 30, 2011 — = — × 1.78
Mar 31, 2011 — = — × 1.78

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 primary reason for the increase in return on equity ratio (ROE) over Q2 2016 is the increase in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

EMC Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Jun 30, 2016 9.49% = 8.54% × 0.53 × 2.11
Mar 31, 2016 9.30% = 8.17% × 0.54 × 2.12
Dec 31, 2015 9.41% = 8.06% × 0.53 × 2.20
Sep 30, 2015 11.57% = 9.56% × 0.55 × 2.22
Jun 30, 2015 12.31% = 10.01% × 0.55 × 2.23
Mar 31, 2015 12.59% = 10.47% × 0.57 × 2.12
Dec 31, 2014 12.39% = 11.10% × 0.53 × 2.10
Sep 30, 2014 11.43% = 10.76% × 0.53 × 1.99
Jun 30, 2014 11.60% = 10.98% × 0.53 × 1.99
Mar 31, 2014 12.03% = 11.59% × 0.53 × 1.96
Dec 31, 2013 12.95% = 12.44% × 0.51 × 2.06
Sep 30, 2013 12.26% = 12.13% × 0.51 × 2.00
Jun 30, 2013 12.29% = 12.45% × 0.50 × 1.97
Mar 31, 2013 12.03% = 12.39% × 0.58 × 1.69
Dec 31, 2012 12.22% = 12.58% × 0.57 × 1.70
Sep 30, 2012 12.42% = 12.68% × 0.58 × 1.68
Jun 30, 2012 12.77% = 12.76% × 0.60 × 1.67
Mar 31, 2012 12.82% = 12.55% × 0.60 × 1.69
Dec 31, 2011 12.98% = 12.30% × 0.58 × 1.81
Sep 30, 2011 — = — × — × 1.81
Jun 30, 2011 — = — × — × 1.78
Mar 31, 2011 — = — × — × 1.78

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 primary reason for the increase in return on equity ratio (ROE) over Q2 2016 is the increase in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

EMC Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Jun 30, 2016 9.49% = 0.73 × 0.95 × 12.34% × 0.53 × 2.11
Mar 31, 2016 9.30% = 0.74 × 0.94 × 11.76% × 0.54 × 2.12
Dec 31, 2015 9.41% = 0.74 × 0.94 × 11.59% × 0.53 × 2.20
Sep 30, 2015 11.57% = 0.76 × 0.95 × 13.27% × 0.55 × 2.22
Jun 30, 2015 12.31% = 0.76 × 0.95 × 13.88% × 0.55 × 2.23
Mar 31, 2015 12.59% = 0.76 × 0.96 × 14.40% × 0.57 × 2.12
Dec 31, 2014 12.39% = 0.76 × 0.96 × 15.26% × 0.53 × 2.10
Sep 30, 2014 11.43% = 0.76 × 0.96 × 14.85% × 0.53 × 1.99
Jun 30, 2014 11.60% = 0.76 × 0.95 × 15.13% × 0.53 × 1.99
Mar 31, 2014 12.03% = 0.76 × 0.95 × 15.89% × 0.53 × 1.96
Dec 31, 2013 12.95% = 0.79 × 0.96 × 16.44% × 0.51 × 2.06
Sep 30, 2013 12.26% = 0.77 × 0.96 × 16.25% × 0.51 × 2.00
Jun 30, 2013 12.29% = 0.78 × 0.97 × 16.48% × 0.50 × 1.97
Mar 31, 2013 12.03% = 0.77 × 0.98 × 16.40% × 0.58 × 1.69
Dec 31, 2012 12.22% = 0.75 × 0.98 × 17.17% × 0.57 × 1.70
Sep 30, 2012 12.42% = 0.78 × 0.97 × 16.71% × 0.58 × 1.68
Jun 30, 2012 12.77% = 0.78 × 0.97 × 16.89% × 0.60 × 1.67
Mar 31, 2012 12.82% = 0.78 × 0.96 × 16.71% × 0.60 × 1.69
Dec 31, 2011 12.98% = 0.79 × 0.95 × 16.35% × 0.58 × 1.81
Sep 30, 2011 — = — × — × — × — × 1.81
Jun 30, 2011 — = — × — × — × — × 1.78
Mar 31, 2011 — = — × — × — × — × 1.78

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 primary reason for the increase in return on equity ratio (ROE) over Q2 2016 is the increase in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

EMC Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Jun 30, 2016 4.49% = 8.54% × 0.53
Mar 31, 2016 4.39% = 8.17% × 0.54
Dec 31, 2015 4.27% = 8.06% × 0.53
Sep 30, 2015 5.22% = 9.56% × 0.55
Jun 30, 2015 5.51% = 10.01% × 0.55
Mar 31, 2015 5.95% = 10.47% × 0.57
Dec 31, 2014 5.91% = 11.10% × 0.53
Sep 30, 2014 5.75% = 10.76% × 0.53
Jun 30, 2014 5.83% = 10.98% × 0.53
Mar 31, 2014 6.13% = 11.59% × 0.53
Dec 31, 2013 6.30% = 12.44% × 0.51
Sep 30, 2013 6.14% = 12.13% × 0.51
Jun 30, 2013 6.26% = 12.45% × 0.50
Mar 31, 2013 7.13% = 12.39% × 0.58
Dec 31, 2012 7.18% = 12.58% × 0.57
Sep 30, 2012 7.38% = 12.68% × 0.58
Jun 30, 2012 7.65% = 12.76% × 0.60
Mar 31, 2012 7.57% = 12.55% × 0.60
Dec 31, 2011 7.18% = 12.30% × 0.58
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).

The primary reason for the increase in return on assets ratio (ROA) over Q2 2016 is the increase in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

EMC Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Jun 30, 2016 4.49% = 0.73 × 0.95 × 12.34% × 0.53
Mar 31, 2016 4.39% = 0.74 × 0.94 × 11.76% × 0.54
Dec 31, 2015 4.27% = 0.74 × 0.94 × 11.59% × 0.53
Sep 30, 2015 5.22% = 0.76 × 0.95 × 13.27% × 0.55
Jun 30, 2015 5.51% = 0.76 × 0.95 × 13.88% × 0.55
Mar 31, 2015 5.95% = 0.76 × 0.96 × 14.40% × 0.57
Dec 31, 2014 5.91% = 0.76 × 0.96 × 15.26% × 0.53
Sep 30, 2014 5.75% = 0.76 × 0.96 × 14.85% × 0.53
Jun 30, 2014 5.83% = 0.76 × 0.95 × 15.13% × 0.53
Mar 31, 2014 6.13% = 0.76 × 0.95 × 15.89% × 0.53
Dec 31, 2013 6.30% = 0.79 × 0.96 × 16.44% × 0.51
Sep 30, 2013 6.14% = 0.77 × 0.96 × 16.25% × 0.51
Jun 30, 2013 6.26% = 0.78 × 0.97 × 16.48% × 0.50
Mar 31, 2013 7.13% = 0.77 × 0.98 × 16.40% × 0.58
Dec 31, 2012 7.18% = 0.75 × 0.98 × 17.17% × 0.57
Sep 30, 2012 7.38% = 0.78 × 0.97 × 16.71% × 0.58
Jun 30, 2012 7.65% = 0.78 × 0.97 × 16.89% × 0.60
Mar 31, 2012 7.57% = 0.78 × 0.96 × 16.71% × 0.60
Dec 31, 2011 7.18% = 0.79 × 0.95 × 16.35% × 0.58
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).

The primary reason for the increase in return on assets ratio (ROA) over Q2 2016 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

EMC Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Jun 30, 2016 8.54% = 0.73 × 0.95 × 12.34%
Mar 31, 2016 8.17% = 0.74 × 0.94 × 11.76%
Dec 31, 2015 8.06% = 0.74 × 0.94 × 11.59%
Sep 30, 2015 9.56% = 0.76 × 0.95 × 13.27%
Jun 30, 2015 10.01% = 0.76 × 0.95 × 13.88%
Mar 31, 2015 10.47% = 0.76 × 0.96 × 14.40%
Dec 31, 2014 11.10% = 0.76 × 0.96 × 15.26%
Sep 30, 2014 10.76% = 0.76 × 0.96 × 14.85%
Jun 30, 2014 10.98% = 0.76 × 0.95 × 15.13%
Mar 31, 2014 11.59% = 0.76 × 0.95 × 15.89%
Dec 31, 2013 12.44% = 0.79 × 0.96 × 16.44%
Sep 30, 2013 12.13% = 0.77 × 0.96 × 16.25%
Jun 30, 2013 12.45% = 0.78 × 0.97 × 16.48%
Mar 31, 2013 12.39% = 0.77 × 0.98 × 16.40%
Dec 31, 2012 12.58% = 0.75 × 0.98 × 17.17%
Sep 30, 2012 12.68% = 0.78 × 0.97 × 16.71%
Jun 30, 2012 12.76% = 0.78 × 0.97 × 16.89%
Mar 31, 2012 12.55% = 0.78 × 0.96 × 16.71%
Dec 31, 2011 12.30% = 0.79 × 0.95 × 16.35%
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).

The primary reason for the increase in net profit margin ratio over Q2 2016 is the increase in operating profitability measured by EBIT margin ratio.