Total S.A. (TOT) | DuPont Analysis: Decomposition of ROE

Total S.A., decomposition of ROE

	ROE	=	ROA	×	Leverage
Dec 31, 2012	%		%
Dec 31, 2011	%		%
Dec 31, 2010	%		%
Dec 31, 2009	%		%
Dec 31, 2008	%		%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Return on Equity (ROE) over 2012 year is the decrease in profitability measured by Return on Assets (ROA).

Total S.A., decomposition of ROE

	ROE	=	Net Profit Margin	×	Asset Turnover	×	Leverage
Dec 31, 2012	%		%
Dec 31, 2011	%		%
Dec 31, 2010	%		%
Dec 31, 2009	%		%
Dec 31, 2008	%		%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Return on Equity (ROE) over 2012 year is the decrease in profitability measured by Net Profit Margin.

Total S.A., decomposition of ROE

	ROE	=	Tax Burden	×	Interest Burden	×	EBIT Margin	×	Asset Turnover	×	Leverage
Dec 31, 2012	%						%
Dec 31, 2011	%						%
Dec 31, 2010	%						%
Dec 31, 2009	%						%
Dec 31, 2008	%						%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Return on Equity (ROE) over 2012 year is the decrease in operating profitability measured by EBIT Margin.

Total S.A., decomposition of ROA

	ROA	=	Net Profit Margin	×	Asset Turnover
Dec 31, 2012	%		%
Dec 31, 2011	%		%
Dec 31, 2010	%		%
Dec 31, 2009	%		%
Dec 31, 2008	%		%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Return on Assets (ROA) over 2012 year is the decrease in profitability measured by Net Profit Margin.

Total S.A., decomposition of ROA

	ROA	=	Tax Burden	×	Interest Burden	×	EBIT Margin	×	Asset Turnover
Dec 31, 2012	%						%
Dec 31, 2011	%						%
Dec 31, 2010	%						%
Dec 31, 2009	%						%
Dec 31, 2008	%						%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Return on Assets (ROA) over 2012 year is the decrease in operating profitability measured by EBIT Margin.

Total S.A., decomposition of Net Profit Margin

	Net Profit Margin	=	Tax Burden	×	Interest Burden	×	EBIT Margin
Dec 31, 2012	%						%
Dec 31, 2011	%						%
Dec 31, 2010	%						%
Dec 31, 2009	%						%
Dec 31, 2008	%						%

Source: Based on data from Total S.A. Annual Reports

The primary reason for the decrease in Net Profit Margin over 2012 year is the decrease in operating profitability measured by EBIT Margin.