Adjusted Financial Ratios
Paying user area
Try for free
Automatic Data Processing Inc. pages available for free this week:
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Automatic Data Processing Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Adjusted Financial Ratios (Summary)
Automatic Data Processing Inc., adjusted financial ratios
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
- Total Asset Turnover
- The reported total asset turnover ratio increased from 0.27 in 2016 to a peak of 0.37 in 2020, before declining to 0.31 in 2021. The adjusted figures show a similar pattern, reaching 0.37 in 2020 and then falling to 0.31. This indicates an improvement in asset utilization efficiency up to 2020, followed by a decrease in the most recent year.
- Current Ratio
- The reported current ratio remained relatively stable over the period, fluctuating slightly around 1.05 to 1.1, with a minor increase to 1.07 in 2021. Adjusted current ratios followed the same trend, ranging between 1.06 and 1.11. This suggests consistent liquidity levels throughout the years.
- Debt to Equity
- Reported debt to equity ratios rose from 0.45 in 2016 to a peak of 0.58 in 2018, signaling increased leverage, but then decreased sharply to 0.35 in 2020 before rising again to 0.53 in 2021. Adjusted ratios show a similar trajectory. The pattern indicates a period of higher financial risk around 2018, followed by deleveraging and then a moderate increase in leverage in the last year.
- Debt to Capital
- Debt to capital ratios followed a pattern comparable to debt to equity, increasing from 0.31 in 2016 to 0.37 in 2018, then dropping to 0.26 in 2020, and rebounding to around 0.34-0.35 in 2021. This reflects a similar change in capital structure over the period.
- Financial Leverage
- Financial leverage ratios decreased notably from highs of 9.74 (reported) and 8.34 (adjusted) in 2016 and 2017, to lows of 6.81 (reported) and 5.51 (adjusted) in 2020. These were followed by an increase in 2021, though not returning to previous peaks. The trend suggests a reduction in leverage risk during the middle years, with a partial reversal later.
- Net Profit Margin
- Reported net profit margin showed an upward trend from 12.79% in 2016 to 17.32% in 2021, peaking at 16.91% in 2020. Adjusted margins were somewhat volatile but generally increased until 2020, reaching close to 18.94%, before declining in 2021. This pattern indicates improving profitability with some fluctuation toward the end of the period.
- Return on Equity (ROE)
- Reported ROE rose consistently from 33.3% in 2016 to a peak of 46.85% in 2018, moderately declining afterward but remaining robust at 45.83% in 2021. Adjusted ROE displayed a similar, though more erratic, trend, with an initial increase followed by a decrease in the last two years. Overall, the company maintained strong equity returns.
- Return on Assets (ROA)
- ROA improved from approximately 3.4% in 2016 to maximum values around 6.3% to 6.98% in 2019-2020, then decreased to around 5% in 2021 for both reported and adjusted figures. This suggests enhanced asset profitability over the years, with a slight decline more recently.
Automatic Data Processing Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted revenues. See details »
3 Adjusted total assets. See details »
4 2021 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= ÷ =
- Revenues
- Revenues exhibited a consistent upward trend over the period from June 2016 to June 2021. The figures increased steadily from 11,667,800 thousand US dollars in 2016 to 15,005,400 thousand US dollars in 2021. The growth indicates a stable expansion in sales or service income across the years.
- Total Assets
- Total assets showed some variability throughout the analyzed period. From 43,670,000 thousand US dollars in 2016, total assets declined to approximately 37,180,000 thousand in 2017 and remained relatively stable in 2018. In 2019, there was an increase to 41,887,700 thousand US dollars followed by a slight decline in 2020. By 2021, total assets rose substantially to 48,772,500 thousand US dollars, marking the highest point in the period under review. This pattern suggests fluctuations in asset base, with a significant expansion in the final year.
- Reported Total Asset Turnover
- The reported total asset turnover ratio witnessed some fluctuations across the years. Starting at 0.27 in 2016, it increased to 0.33 in 2017, and further to 0.36 in 2018. It then declined marginally to 0.34 in 2019, rose to 0.37 in 2020, before decreasing again to 0.31 in 2021. This indicates variability in how efficiently the company utilized its assets to generate revenues, with peak efficiency around 2018 and 2020, followed by a decrease in 2021.
- Adjusted Revenues
- Adjusted revenues closely mirror the trend of reported revenues, showing steady growth from 11,690,800 thousand US dollars in 2016 to 14,988,600 thousand in 2021. This suggests that adjustments made do not significantly alter the observed trend of increasing revenue over the period.
- Adjusted Total Assets
- Adjusted total assets generally follow the pattern of reported total assets, starting at 44,053,408 thousand US dollars in 2016, decreasing to around 37,564,636 thousand in 2017 and 37,534,594 thousand in 2018, then increasing to 42,421,458 thousand in 2019, declining slightly in 2020, and reaching 48,803,800 thousand in 2021. The adjusted figures confirm the presence of fluctuations and the significant asset growth seen in the final year.
- Adjusted Total Asset Turnover
- The adjusted total asset turnover ratio exhibits a pattern similar to the reported ratio, beginning at 0.27 in 2016, rising to 0.33 in 2017, peaking near 0.35 in 2018, then declining to 0.33 in 2019, increasing again to 0.37 in 2020, and decreasing to 0.31 in 2021. This reinforced trend highlights variations in asset utilization efficiency which peaked notably in 2018 and 2020 before decreasing in the last observed year.
Adjusted Current Ratio
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current assets. See details »
3 Adjusted current liabilities. See details »
4 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =
- Current Assets
- Current assets exhibited a decline from 39,500,400 thousand US dollars in mid-2016 to a low of 31,564,100 thousand US dollars in mid-2020. This period indicates a general downward trend over four years, followed by a notable increase to 40,741,800 thousand US dollars in mid-2021, surpassing the initial value in 2016. The recovery in 2021 suggests improved liquidity or asset management after several years of contraction.
- Current Liabilities
- Current liabilities followed a pattern similar to current assets, starting at 35,847,400 thousand US dollars in 2016, decreasing to 30,126,600 thousand US dollars by mid-2020, and then rising sharply to 38,094,800 thousand US dollars in 2021. This indicates that the company's short-term obligations were reduced over the initial years but increased significantly in the last recorded year, potentially reflecting increased operational activity or rising costs.
- Reported Current Ratio
- The reported current ratio remained relatively stable, fluctuating slightly around 1.05 to 1.1 during the six-year period. It began at 1.1 in 2016 and 2017, dropped slightly to 1.05 through 2018 to 2020, and then increased marginally to 1.07 in 2021. This constancy indicates steady short-term liquidity, with current assets slightly exceeding current liabilities, though the margin is slim.
- Adjusted Current Assets
- Adjusted current assets closely parallel the trend of reported current assets, declining from 39,538,500 thousand US dollars in 2016 to 31,656,600 thousand US dollars in 2020, followed by a significant rebound to 40,821,400 thousand US dollars in 2021. The adjustment results in minor increases compared to reported values, indicating slight refinements for valuation or classification purposes, but overall the trend remains consistent.
- Adjusted Current Liabilities
- Adjusted current liabilities also closely align with reported figures, starting at 35,614,200 thousand US dollars in 2016, dipping to 29,914,100 thousand US dollars in 2020, and then rising to 37,890,900 thousand US dollars in 2021. These adjustments slightly lower the liability figures compared to reported data but do not materially change the overall trend.
- Adjusted Current Ratio
- The adjusted current ratio reflects a stable liquidity position similar to the reported current ratio, beginning at 1.11 in 2016 and 2017, declining marginally to 1.06 from 2018 through 2020, and increasing slightly to 1.08 in 2021. These ratios maintain a pattern of current assets just exceeding current liabilities, suggesting a consistent but modest buffer for meeting short-term obligations.
Adjusted Debt to Equity
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= ÷ =
2 Adjusted total debt. See details »
3 Adjusted stockholders’ equity. See details »
4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= ÷ =
- Total Debt
- Total debt remained relatively stable from 2016 through 2018, hovering around 2,000,000 thousand US dollars. A notable increase occurred in 2019 when total debt rose to approximately 2,264,200 thousand US dollars, followed by a decrease in 2020 to about 2,018,200 thousand. In 2021, total debt surged significantly to 3,008,500 thousand US dollars, marking the highest level in the observed period.
- Stockholders’ Equity
- Stockholders’ equity exhibited a declining trend from 2016 to 2018, dropping from approximately 4,481,600 thousand US dollars to 3,459,600 thousand. This trend reversed in 2019, with equity increasing sharply to 5,399,900 thousand, peaking at 5,752,200 thousand in 2020 before a slight decrease to 5,670,100 thousand in 2021.
- Reported Debt to Equity Ratio
- The reported debt to equity ratio increased progressively from 0.45 in 2016 to 0.58 in 2018, indicating rising leverage relative to equity. This ratio decreased significantly in 2019 and 2020 to 0.42 and 0.35 respectively, reflecting strengthened equity positions relative to debt. However, in 2021, the ratio increased again to 0.53, correlating with the substantial rise in total debt during that year.
- Adjusted Total Debt
- Adjusted total debt followed a similar pattern to reported total debt but at slightly higher absolute values. It remained consistent around the 2,400,000 to 2,500,000 thousand range from 2016 to 2018, rose to approximately 2,807,000 thousand in 2019, then decreased to 2,458,100 thousand in 2020. In 2021, adjusted total debt increased notably to around 3,446,400 thousand.
- Adjusted Stockholders’ Equity
- Adjusted stockholders’ equity decreased steadily over the first three years, from approximately 5,284,800 thousand in 2016 to 4,132,400 thousand in 2018. A subsequent marked increase occurred in 2019, with equity rising to 6,670,700 thousand, continuing to grow to 7,121,000 thousand in 2020 before declining slightly to 6,750,700 thousand in 2021.
- Adjusted Debt to Equity Ratio
- Aligning with trends in adjusted debt and equity, the adjusted debt to equity ratio increased from 0.46 in 2016 to 0.60 in 2018, indicating higher leverage. The ratio dropped prominently to 0.42 in 2019 and further to 0.35 in 2020, reflecting improved equity strength. In 2021, the ratio rose again to 0.51, correlating with the increase in adjusted debt and slight decrease in equity.
- Summary of Trends
- The data exhibits an overall pattern of increasing leverage from 2016 to 2018, as both reported and adjusted debt to equity ratios rose. This period was characterized by declining equity values and relatively stable debt levels. From 2019 to 2020, there was a reversal with significant growth in equity and a reduction in relative debt leverage. The year 2021 saw a notable increase in debt accompanied by a slight decline in equity, resulting in a renewed rise in leverage ratios. These movements suggest periods of strategic financing adjustments impacting the company's capital structure over the six-year span.
Adjusted Debt to Capital
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Adjusted total debt. See details »
3 Adjusted total capital. See details »
4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= ÷ =
- Total Debt
- The total debt remained relatively stable between June 2016 and June 2018, fluctuating slightly around the 2,000,000 US$ in thousands mark. A noticeable increase occurred in June 2019, followed by a decline in 2020. However, in June 2021, total debt rose sharply to its highest level in the observed period, exceeding 3,000,000 US$ in thousands.
- Total Capital
- Total capital exhibited a declining trend from June 2016 through June 2018, falling from approximately 6,489,300 to 5,462,000 US$ in thousands. Starting in June 2019, there was a significant recovery and growth in total capital, peaking at nearly 8,678,600 US$ in thousands by June 2021.
- Reported Debt to Capital Ratio
- The reported debt to capital ratio increased moderately from 0.31 in 2016 to 0.37 in 2018, indicating a rising proportion of debt relative to capital during this period. Subsequently, the ratio declined sharply to 0.26 in 2020, suggesting improved leverage. In 2021, the ratio increased again to 0.35, reflecting a higher debt level relative to capital.
- Adjusted Total Debt
- Adjusted total debt showed a pattern similar to total debt, with values around 2,450,000 US$ in thousands until 2018. An upward trend was evident in 2019, a dip occurred in 2020, followed by a pronounced increase in 2021 reaching approximately 3,446,400 US$ in thousands.
- Adjusted Total Capital
- Adjusted total capital declined consistently from around 7,738,108 US$ in thousands in 2016 to about 6,619,494 US$ in 2018. From 2019 onwards, adjusted capital increased significantly each year, reaching approximately 10,197,100 US$ in thousands by 2021.
- Adjusted Debt to Capital Ratio
- The adjusted debt to capital ratio moved in line with the reported ratio, rising from 0.32 in 2016 to 0.38 in 2018. It then decreased to a low of 0.26 in 2020 before climbing back up to 0.34 in 2021, indicating fluctuating leverage with a tendency towards higher debt levels in the most recent period.
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =
2 Adjusted total assets. See details »
3 Adjusted stockholders’ equity. See details »
4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =
- Total Assets
- The total assets demonstrate a fluctuating pattern over the observed periods. Starting at approximately 43.67 billion US dollars in mid-2016, there is a noticeable decline in the following two years, reaching around 37.09 billion in mid-2018. A recovery trend occurs subsequently, with assets increasing to nearly 41.89 billion in mid-2019, followed by a slight decrease in 2020, and culminating in the highest value of approximately 48.77 billion in mid-2021. This indicates overall asset growth in the long term despite interim declines.
- Stockholders’ Equity
- Stockholders’ equity initially decreases from about 4.48 billion in mid-2016 to a low of approximately 3.46 billion in mid-2018. Thereafter, a marked increase is seen in mid-2019, with equity rising to roughly 5.40 billion. This upward trend continues in 2020, peaking near 5.75 billion, but declines slightly to 5.67 billion in mid-2021. The pattern suggests reinvestment or retained earnings improvements between 2018 and 2020, followed by a minor reduction in 2021.
- Reported Financial Leverage
- The reported financial leverage ratio exhibits a general downward trend from 9.74 in 2016 to 6.81 in 2020, indicating a relative reduction in debt or liabilities compared to equity over this period. However, in 2021, leverage rises again to 8.6, suggesting increased reliance on debt financing or a decrease in equity relative to assets in that year.
- Adjusted Total Assets
- Adjusted total assets follow a similar trajectory to the reported total assets, beginning at around 44.05 billion in 2016, dropping to approximately 37.53 billion in 2018, then climbing steadily to about 48.80 billion in 2021. The close alignment between adjusted and reported values confirms consistency in asset valuation adjustments over time.
- Adjusted Stockholders’ Equity
- The adjusted stockholders’ equity increases from approximately 5.28 billion in 2016 to about 6.67 billion in 2019, marking significant growth. It continues to rise slightly to 7.12 billion in 2020 before decreasing to 6.75 billion in 2021. This demonstrates an overall enhancement in equity after adjustments, with a peak near 2020 and a minor setback the following year.
- Adjusted Financial Leverage
- This ratio decreases from 8.34 in 2016 to a low of 5.51 in 2020, reflecting a stronger equity position relative to adjusted assets or a more conservative capital structure. In 2021, the ratio increases to 7.23, indicating a shift toward higher leverage. The adjusted leverage trends correspond with the changes observed in reported financial leverage, albeit with lower magnitude.
- Summary of Financial Position Trends
- The financial data illustrates a period of asset contraction and equity reduction through 2018, followed by recovery and growth through 2020, before showing signs of increasing leverage in 2021. Both reported and adjusted metrics reveal consistent patterns, suggesting that while the company strengthened its equity base and reduced financial leverage during 2018-2020, there was a reversal in leverage trends in 2021. This may indicate shifts in capital structure strategy or market conditions influencing financing decisions in the latest period.
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
Net profit margin = 100 × Net earnings ÷ Revenues
= 100 × ÷ =
2 Adjusted net earnings. See details »
3 Adjusted revenues. See details »
4 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net earnings ÷ Adjusted revenues
= 100 × ÷ =
- Net Earnings
- Net earnings exhibited an overall upward trend from 2016 to 2021. Beginning at 1,492,500 thousand USD in 2016, earnings saw consistent increases with a notable peak in 2019 at 2,292,800 thousand USD. Following this peak, net earnings continued to rise, reaching 2,598,500 thousand USD by 2021.
- Revenues
- Revenues demonstrated steady growth over the six-year period. Starting at 11,667,800 thousand USD in 2016, revenues increased every year, reaching 15,005,400 thousand USD in 2021. The growth was relatively consistent, indicating stable revenue expansion.
- Reported Net Profit Margin
- The reported net profit margin fluctuated between 2016 and 2021, with values ranging from 12.16% to 17.32%. After starting at 12.79% in 2016, the margin increased to 14% in 2017, dipped to 12.16% in 2018, then increased significantly to peak at 17.32% in 2021. The most pronounced increase occurred between 2018 and 2019, when the margin rose from 12.16% to 16.17%, indicating improved profitability.
- Adjusted Net Earnings
- Adjusted net earnings showed more volatility compared to reported net earnings. Beginning at 1,565,200 thousand USD in 2016, earnings decreased to 1,343,700 thousand USD in 2018 before surging to a peak of 2,674,400 thousand USD in 2019. Afterward, adjusted net earnings declined to 2,343,100 thousand USD in 2021, remaining above the initial years but below the 2019 high.
- Adjusted Revenues
- Adjusted revenues tracked closely with reported revenues, rising steadily from 11,690,800 thousand USD in 2016 to 14,988,600 thousand USD in 2021. The growth pattern was consistent, though the adjusted figures were slightly lower than the reported revenues in most years.
- Adjusted Net Profit Margin
- The adjusted net profit margin experienced considerable fluctuations. Starting at 13.39% in 2016, it declined to 10.1% in 2018, which was the lowest point in the period. Subsequently, there was a sharp increase in 2019 and 2020 to 18.94% and 18.8% respectively, followed by a decline to 15.63% in 2021. This pattern suggests periods of variable profitability when adjustments are taken into account, with the highest margins occurring during 2019 and 2020.
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
ROE = 100 × Net earnings ÷ Stockholders’ equity
= 100 × ÷ =
2 Adjusted net earnings. See details »
3 Adjusted stockholders’ equity. See details »
4 2021 Calculation
Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted stockholders’ equity
= 100 × ÷ =
- Net Earnings
- Net earnings exhibited a generally upward trend over the six-year period, increasing from 1,492,500 thousand US dollars in 2016 to 2,598,500 thousand US dollars in 2021. Notably, there was a decline in 2018 compared to 2017, but this was followed by a significant rise in 2019. The growth continued steadily through 2020 and 2021.
- Stockholders’ Equity
- Stockholders’ equity showed a fluctuating pattern. It decreased from 4,481,600 thousand US dollars in 2016 to 3,459,600 thousand US dollars in 2018. However, this was followed by a strong recovery starting in 2019, peaking at 5,752,200 thousand in 2020 before a slight decrease to 5,670,100 thousand in 2021.
- Reported Return on Equity (ROE)
- The reported ROE remained at relatively high levels throughout the period, ranging between approximately 33.3% and 46.85%. It increased significantly from 33.3% in 2016 to a peak of 46.85% in 2018, then slightly declined, but stayed above 40%, finishing at 45.83% in 2021. This indicates strong profitability relative to the equity base.
- Adjusted Net Earnings
- Adjusted net earnings fluctuate more distinctly than reported net earnings. They decreased from 1,565,200 thousand in 2016 to 1,343,700 thousand in 2018, then showed a pronounced increase in 2019, reaching 2,674,400 thousand. After a peak in 2020, adjusted net earnings decreased to 2,343,100 thousand in 2021, indicating some volatility in adjusted performance metrics.
- Adjusted Stockholders’ Equity
- Adjusted stockholders’ equity closely mirrors the trend of the reported equity but with slightly higher absolute values. It decreased from 5,284,800 thousand in 2016 to 4,132,400 thousand in 2018, then increased sharply to 6,671,700 thousand in 2019 and peaked at 7,121,000 thousand in 2020, followed by a decrease to 6,750,700 thousand in 2021. This suggests adjustments account for additional equity components not reflected in reported figures.
- Adjusted Return on Equity (ROE)
- Adjusted ROE displayed a downward trend starting at 29.62% in 2016, increasing to 33.87% in 2017, then gradually declining from 32.52% in 2018 to 34.71% in 2021 after peaking at 40.09% in 2019. Though still solid, this indicates a moderate decline in profitability when adjusted equity is considered.
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
1 2021 Calculation
ROA = 100 × Net earnings ÷ Total assets
= 100 × ÷ =
2 Adjusted net earnings. See details »
3 Adjusted total assets. See details »
4 2021 Calculation
Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × ÷ =
- Net Earnings
- Net earnings demonstrated a generally upward trend over the period analyzed. Starting at 1,492,500 thousand USD in 2016, earnings increased to 1,733,400 thousand USD in 2017, followed by a slight decline in 2018 to 1,620,800 thousand USD. From 2018 onward, net earnings experienced substantial growth, peaking at 2,598,500 thousand USD in 2021. This represents a strong recovery and overall growth trajectory over the six years.
- Total Assets
- Total assets showed fluctuations across the years with an initial decrease from 43,670,000 thousand USD in 2016 to 37,180,000 thousand USD in 2017. The asset base remained relatively stable in 2018 at approximately 37,088,700 thousand USD. It then rose in 2019 to 41,887,700 thousand USD, followed by a slight decline in 2020. In 2021, total assets increased notably, reaching 48,772,500 thousand USD, marking the highest asset value within the period.
- Reported Return on Assets (ROA)
- Reported ROA percentages showed variability aligned with net earnings and asset fluctuations. Starting at 3.42% in 2016, ROA improved steadily to 4.66% in 2017, slightly decreasing to 4.37% in 2018. The metric rose significantly in 2019 and 2020, reaching a peak of 6.30%, before dropping somewhat to 5.33% in 2021. This indicates generally improving asset efficiency with a peak in the later years.
- Adjusted Net Earnings
- Adjusted net earnings followed a less smooth trajectory compared to reported net earnings. After rising modestly from 1,565,200 thousand USD in 2016 to 1,598,900 thousand USD in 2017, adjusted earnings declined to 1,343,700 thousand USD in 2018. A substantial increase occurred in 2019 and 2020, reaching 2,734,700 thousand USD in 2020. However, a decrease to 2,343,100 thousand USD in 2021 was observed, though the value remained elevated compared to earlier years.
- Adjusted Total Assets
- Adjusted total assets trended similarly to reported total assets, beginning at 44,053,408 thousand USD in 2016 and declining to 37,564,636 thousand USD in 2017. These values stabilized in 2018 around 37,534,594 thousand USD, then increased to 42,421,458 thousand USD by 2019. A slight reduction in 2020 preceded a strong rise to 48,803,800 thousand USD in 2021. Overall, adjusted assets presented a rebound and growth in the latter years of the period.
- Adjusted Return on Assets (ROA)
- Adjusted ROA showed variability reflective of adjusted earnings and assets. Starting at 3.55% in 2016, the ratio increased to 4.26% in 2017, then declined to 3.58% in 2018. A marked increase to 6.30% occurred in 2019, peaking at 6.98% in 2020. However, in 2021, adjusted ROA decreased significantly to 4.80%. This pattern suggests that asset profitability improved through 2020 but faced some reduction in efficiency the following year.