Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Cash Flow Statement
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- Return on Assets (ROA) since 2005
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Profitability Ratios (Summary)
Apple Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
The profitability metrics demonstrate a generally positive trajectory over the analyzed period, with some fluctuations. Overall, the company exhibits strong and improving profitability, though recent quarters show some signs of stabilization or slight decline in certain areas.
- Gross Profit Margin
- The gross profit margin consistently increased from 38.78% in December 2020 to a peak of 47.33% in December 2025. This indicates improving efficiency in production and cost of goods sold management. The rate of increase slowed in the latter half of the period, with margins stabilizing between 46.52% and 46.91% from December 2024 through June 2025.
- Operating Profit Margin
- Similar to the gross profit margin, the operating profit margin showed a steady increase from 25.24% in December 2020 to 32.38% in December 2025. This suggests effective control of operating expenses alongside revenue growth. The increase was most pronounced between June 2022 and September 2023. A slight dip to 31.51% occurred in September 2024 before recovering somewhat.
- Net Profit Margin
- The net profit margin followed a similar pattern, rising from 21.73% in December 2020 to 27.04% in December 2025. However, this metric experienced more volatility than the gross and operating margins. A notable decrease to 23.97% occurred in September 2024, followed by a substantial increase to 26.92% in December 2025. This suggests that factors beyond core operations, such as interest or taxes, may have a more significant impact on net income.
- Return on Equity (ROE)
- ROE demonstrated substantial growth, increasing from 96.54% in December 2020 to 151.91% in September 2025, before decreasing to 133.55% in December 2025. This indicates a highly effective use of shareholder equity to generate profits. The peak in September 2025 suggests a particularly strong performance relative to equity levels at that time. The decrease in the final quarter suggests a potential shift in capital structure or profitability relative to equity.
- Return on Assets (ROA)
- ROA also exhibited a positive trend, rising from 18.06% in December 2020 to 31.05% in December 2025. This signifies improved efficiency in utilizing assets to generate earnings. The increase was relatively consistent throughout the period, indicating a sustained improvement in asset management. The ROA remained relatively stable between 27.45% and 29.95% from September 2022 through June 2025.
In summary, the company’s profitability ratios generally improved over the analyzed period. While recent quarters show some stabilization or slight declines in certain metrics, the overall trend remains positive, indicating strong financial performance and efficient resource utilization.
Return on Sales
Return on Investment
Gross Profit Margin
Apple Inc., gross profit margin calculation (quarterly data)
| Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | Dec 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Gross margin | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
1 Q1 2026 Calculation
Gross profit margin = 100
× (Gross marginQ1 2026
+ Gross marginQ4 2025
+ Gross marginQ3 2025
+ Gross marginQ2 2025)
÷ (Net salesQ1 2026
+ Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The gross profit margin exhibited a generally increasing trend over the analyzed period, spanning from December 2020 to December 2025. While fluctuations occurred, the overall trajectory indicates improving profitability from a production cost perspective.
- Initial Period (Dec 2020 - Jun 2021)
- The gross profit margin began at 38.78% in December 2020 and demonstrated consistent growth, reaching 41.01% by June 2021. This initial period suggests a strengthening ability to control production costs or an increase in pricing power.
- Stabilization and Fluctuations (Sep 2021 - Jun 2022)
- From September 2021 through June 2022, the gross profit margin stabilized within a narrow range, fluctuating between 41.78% and 43.32%. This suggests a period of relative consistency in cost management and pricing strategies, despite variations in net sales.
- Continued Growth (Sep 2022 - Dec 2023)
- A renewed upward trend was observed from September 2022 to December 2023. The gross profit margin increased from 43.31% to 45.59%, indicating further improvements in operational efficiency or pricing strategies. The highest point in the period was reached in December 2023 at 45.59%.
- Peak and Recent Performance (Mar 2024 - Dec 2025)
- The gross profit margin continued to climb, peaking at 47.33% in December 2025. The period from March 2024 to December 2025 shows a consistent increase, with the margin moving from 45.59% to 47.33%. This suggests sustained success in managing production costs and maintaining or increasing selling prices. The margin reached 46.68% in June 2025, and then increased to 46.91% in September 2025 before reaching the peak in December 2025.
Overall, the consistent upward trend in the gross profit margin suggests effective cost control measures and/or successful pricing strategies. The company has demonstrated an increasing ability to generate profit from each dollar of sales over the analyzed timeframe.
Operating Profit Margin
Apple Inc., operating profit margin calculation (quarterly data)
| Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | Dec 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Operating income | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
1 Q1 2026 Calculation
Operating profit margin = 100
× (Operating incomeQ1 2026
+ Operating incomeQ4 2025
+ Operating incomeQ3 2025
+ Operating incomeQ2 2025)
÷ (Net salesQ1 2026
+ Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The operating profit margin demonstrates a generally positive trend over the analyzed period, with some quarterly fluctuations. Initially, the margin exhibits growth from December 2020 to December 2021, followed by a period of relative stability and minor variations before resuming an upward trajectory. The most recent quarters show a continued increase, reaching the highest point in the observed timeframe.
- Initial Growth Phase (Dec 2020 - Dec 2021)
- The operating profit margin increased consistently from 25.24% in December 2020 to 30.90% in December 2021. This indicates improving operational efficiency and/or pricing power during this period. The increase suggests the company was effectively managing its costs relative to its revenue.
- Stabilization and Fluctuation (Mar 2022 - Sep 2022)
- From March 2022 through September 2022, the operating profit margin remained relatively stable, fluctuating between 30.53% and 30.93%. This suggests a period of consistent performance, with no significant changes in cost structure or pricing strategies. The margin experienced a slight dip to 29.41% in December 2022.
- Resumed Growth and Peak (Apr 2023 - Sep 2025)
- Starting in April 2023, the operating profit margin began to increase again, reaching 32.38% by September 2025. This renewed growth suggests successful implementation of cost control measures, increased sales volume, or a favorable shift in product mix. The margin consistently exceeded 31% throughout this phase, indicating strong and sustained profitability.
- Quarterly Variations
- While the overall trend is positive, quarterly variations are present. For example, margins tend to be slightly lower in the quarters ending in March, potentially due to seasonal factors or increased operating expenses. However, these fluctuations do not disrupt the overarching upward trend.
The consistent increase in operating profit margin over the long term suggests a strong ability to translate sales into profits. The company appears to be effectively managing its operating costs and maintaining a competitive advantage in its market. The recent peak in the margin indicates a period of particularly strong operational performance.
Net Profit Margin
Apple Inc., net profit margin calculation (quarterly data)
| Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | Dec 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
1 Q1 2026 Calculation
Net profit margin = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ (Net salesQ1 2026
+ Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The net profit margin exhibited a generally positive trend over the observed period, with fluctuations occurring throughout the quarters. Initial values demonstrated strong profitability, followed by a period of relative stability, and then a notable increase towards the end of the analyzed timeframe.
- Initial Period (Dec 2020 - Jun 2021)
- The net profit margin began at 21.73% in December 2020 and steadily increased through June 2021, reaching a peak of 25.00%. This indicates improving profitability during this period, potentially driven by strong sales or effective cost management.
- Stabilization and Fluctuation (Sep 2021 - Jun 2022)
- From September 2021 to June 2022, the net profit margin remained relatively stable, fluctuating between 25.31% and 26.58%. While still indicating strong profitability, the rate of increase observed in the prior period slowed. A slight dip was observed in June 2022, falling to 25.71%.
- Mid-Term Trend (Jul 2022 - Sep 2023)
- The period from July 2022 to September 2023 showed a slight downward trend, with the net profit margin decreasing from 26.41% to 25.31%. This suggests potential pressures on profitability, possibly due to increased costs or competitive pricing. However, the margin remained above 24% throughout this period.
- Recent Performance (Dec 2023 - Sep 2025)
- A resurgence in profitability is evident from December 2023 onwards. The net profit margin increased from 26.31% to reach 27.04% in September 2025. A significant peak of 26.92% was observed in June 2025, followed by a further increase in the subsequent quarter. The margin concluded the period at 27.04%, representing the highest value observed within the analyzed timeframe. A notable dip to 23.97% occurred in June 2024, but was quickly recovered.
Overall, the net profit margin demonstrates a resilient and generally upward trajectory. While short-term fluctuations are present, the company consistently maintains a strong level of profitability, with a clear positive trend observed in the most recent quarters.
Return on Equity (ROE)
Apple Inc., ROE calculation (quarterly data)
| Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | Dec 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Shareholders’ equity | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
1 Q1 2026 Calculation
ROE = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ Shareholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The Return on Equity (ROE) for the analyzed period demonstrates significant fluctuation, generally trending upwards before stabilizing and then experiencing a notable increase in the most recent quarters. Initial values indicate a strong ROE, which subsequently increased substantially before moderating. A detailed examination of the observed patterns is presented below.
- Initial Growth & Peak Performance (Dec 26, 2020 – Jun 26, 2021)
- The ROE began at 96.54% in December 2020 and exhibited a consistent upward trajectory, peaking at 135.04% by June 2021. This period reflects a substantial improvement in profitability relative to shareholder equity. The increase suggests efficient utilization of equity financing to generate earnings.
- Sustained High Performance (Sep 25, 2021 – Dec 25, 2021)
- Following the peak, ROE remained at elevated levels, fluctuating between 139.79% and 150.07%. This indicates a sustained period of strong financial performance. While not continuously increasing, the values remained considerably high.
- Fluctuation and Subsequent Increase (Mar 26, 2022 – Jun 25, 2022)
- The period from March 2022 to June 2022 shows a period of fluctuation, with ROE initially decreasing to 151.24% before rising to a high of 171.46%. This suggests potential short-term impacts on profitability, followed by a recovery and further improvement.
- Moderation and Stability (Sep 24, 2022 – Jun 29, 2024)
- From September 2022 through June 2024, ROE experienced a period of moderation, generally ranging between 136.18% and 164.59%. While still representing strong profitability, the rate of increase slowed, and the values exhibited more stability. This could indicate a maturing phase of growth or increased investment in areas that temporarily reduce ROE.
- Recent Surge (Sep 28, 2024 – Dec 27, 2025)
- The most recent quarters demonstrate a renewed upward trend, with ROE increasing from 144.03% in September 2024 to 133.55% in December 2025. This recent surge suggests a resurgence in profitability or a more efficient use of equity capital. The final value of 133.55% represents a significant increase from the preceding period.
Overall, the ROE demonstrates a pattern of strong and generally increasing profitability, punctuated by periods of fluctuation and stabilization. The recent increase suggests positive momentum in financial performance. Continued monitoring of these trends is recommended to assess the sustainability of this performance.
Return on Assets (ROA)
Apple Inc., ROA calculation (quarterly data)
| Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | Dec 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-12-27), 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26).
1 Q1 2026 Calculation
ROA = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The Return on Assets (ROA) exhibits a generally strong and positive trend over the analyzed period, with some quarterly fluctuations. Initially, the ROA demonstrates an increase from 18.06% in December 2020 to a peak of 26.97% in September 2021. This upward trajectory suggests improving efficiency in utilizing assets to generate profit during this timeframe.
- Initial Growth Phase (Dec 2020 - Sep 2021)
- The ROA experienced consistent growth, increasing from 18.06% to 26.97%. This period indicates a successful strategy in converting investments into net income. The increase suggests either improved operational efficiency, effective asset management, or a combination of both.
Following the peak in September 2021, the ROA experienced a slight decrease to 26.38% in December 2021, before rebounding strongly to 29.07% in March 2022. This suggests a temporary dip in profitability, potentially due to seasonal factors or increased investment, followed by a recovery.
- Peak and Subsequent Moderation (Mar 2022 - Jun 2022)
- The ROA reached its highest point at 29.07% in March 2022. While remaining high, the ROA then fluctuated between 29.63% and 28.29% over the subsequent quarters, indicating a period of stabilization at a high level of performance.
The ROA remained relatively stable in the range of 27.45% to 29.95% through December 2023, demonstrating consistent profitability. A notable increase is observed in June 2024, with the ROA falling to 25.68%, followed by a recovery to 27.94% in December 2024. This fluctuation could be attributed to changes in net income or total asset base.
- Recent Fluctuations and Continued Strength (Jun 2024 - Dec 2025)
- The most recent data shows a continued strong ROA, peaking at 31.18% in September 2025. The ROA demonstrates resilience, maintaining levels above 29% for the majority of the analyzed period. The final reported value of 31.05% in December 2025 suggests sustained efficient asset utilization.
Overall, the ROA consistently remained at a high level throughout the analyzed period, indicating effective asset management and strong profitability. While some quarterly variations exist, the general trend is positive, demonstrating the company’s ability to generate substantial returns from its asset base.