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Amgen Inc. (AMGN)
DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data
Beginner level
Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.
Two-Component Disaggregation of ROE
Amgen Inc., decomposition of ROE (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the increase in return on equity ratio (ROE) over Q4 2019 is the increase in financial leverage ratio.
Three-Component Disaggregation of ROE
Amgen Inc., decomposition of ROE (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the increase in return on equity ratio (ROE) over Q4 2019 is the increase in financial leverage ratio.
Five-Component Disaggregation of ROE
Amgen Inc., decomposition of ROE (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the increase in return on equity ratio (ROE) over Q4 2019 is the increase in financial leverage ratio.
Two-Component Disaggregation of ROA
Amgen Inc., decomposition of ROA (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in profitability measured by net profit margin ratio.
Four-Component Disaggregation of ROA
Amgen Inc., decomposition of ROA (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in operating profitability measured by EBIT margin ratio.
Disaggregation of Net Profit Margin
Amgen Inc., decomposition of net profit margin ratio (quarterly data)
Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27).
The primary reason for the decrease in net profit margin ratio over Q4 2019 is the decrease in operating profitability measured by EBIT margin ratio.