Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Selected Financial Data since 2012
- Operating Profit Margin since 2012
- Total Asset Turnover since 2012
- Price to Book Value (P/BV) since 2012
- Aggregate Accruals
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Profitability Ratios (Summary)
Enphase Energy Inc., profitability ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Gross Profit Margin
- The gross profit margin exhibited a steady increase from 35.44% in March 2020 to 46.2% by December 2023. After initial growth through 2020 and early 2021, margins slightly declined towards late 2021, stabilizing in the 40% range before resuming an upward trajectory in the subsequent periods. This indicates improved efficiency or pricing power over time.
- Operating Profit Margin
- Operating profit margins showed a general upward trend from 16.45% in March 2020 to a peak of 24.07% by March 2021. This was followed by a decline to approximately 14% by June 2022. From there, margins recovered, reaching around 22.59% in September 2023 before a slight decline to 19.46% in December 2023. The fluctuations suggest periods of varying operational efficiency, possibly influenced by cost management or revenue changes.
- Net Profit Margin
- Net profit margins were notably volatile, peaking at 31.15% in June 2020 before dropping below 11% in mid-2021. Thereafter, margins gradually improved, reaching approximately 21.08% in September 2023, followed by a slight decrease to 19.16% at the end of 2023. The variability signifies the impact of non-operational factors such as taxes, interest, or one-off items affecting profitability beyond operational performance.
- Return on Equity (ROE)
- ROE demonstrated strong fluctuations, starting at 59.2% in March 2020, increasing to 71.89% in June 2020, then declining to a low of 13.2% during June 2021. Subsequently, ROE recovered robustly, surpassing 50% intermittently through 2022 and 2023 before decreasing to 44.62% by December 2023. These swings may reflect changes in net income relative to shareholders’ equity, indicating variable profitability and leverage effects over the periods.
- Return on Assets (ROA)
- ROA decreased from 22.59% in March 2020 to 4.41% in June 2021, indicating reduced efficiency in utilizing assets for generating profits during this period. A recovery phase followed, with ROA increasing steadily to a peak of 16.52% in September 2023 before a modest decline to 12.97% at year-end 2023. This pattern shows improvements in asset utilization and operational performance after mid-2021.
Return on Sales
Return on Investment
Gross Profit Margin
Enphase Energy Inc., gross profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Gross profit | ||||||||||||||||||||||||||
| Net revenues | ||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||
| NVIDIA Corp. | ||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Gross profit margin = 100
× (Gross profitQ4 2023
+ Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023)
÷ (Net revenuesQ4 2023
+ Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Gross Profit Trend
- The gross profit exhibits a general upward trend from March 2019 through June 2023, increasing from approximately $33.3 million to over $326 million. Notably, there is significant growth starting around March 2021, continuing with substantial quarterly increases through September 2023. However, in the last observed quarter, December 2023, gross profit shows a sharp decline to about $146.7 million, indicating a potential anomaly or a significant change in business conditions.
- Net Revenues Trend
- Net revenues follow a similar upward trajectory over the period, rising from roughly $100 million in early 2019 to a peak exceeding $726 million in June 2023. This growth is consistent, with pronounced acceleration from 2021 onwards. Following the peak, revenue declines markedly in the final quarter, falling to around $302.6 million in December 2023, echoing the pattern seen in gross profit.
- Gross Profit Margin Analysis
- Gross profit margin data begins from the quarter ending March 2020 and shows a steady improvement over time. Initial margins in early 2020 are in the range of 35-38%, climbing gradually and stabilizing around 40-45% from 2021 through much of 2023. The margin reaches its highest levels in the final quarters before December 2023, exceeding 45%. Despite the steep drops in absolute gross profit and revenue in the last reported quarter, the margin value slightly increases to 46.2%, suggesting relative cost control or pricing adjustments.
- Insights on Recent Quarter
- The data for December 2023 shows a pronounced decline in both gross profit and net revenues, approximately halving compared to the previous quarter. This deviation from the otherwise steady growth trend may point to operational challenges, market disruptions, or seasonality effects. The gross profit margin's slight increase during this period implies that cost efficiency might have been maintained despite lower sales volumes.
- Overall Summary
- Over the observed timeframe, both gross profit and net revenues displayed significant growth, particularly accelerating from 2021 onward. The gross profit margin improved steadily, reflecting enhanced profitability or cost management. The abrupt downturn in the final quarter requires further investigation to understand the underlying causes and to assess the sustainability of the company's financial health moving forward.
Operating Profit Margin
Enphase Energy Inc., operating profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Income from operations | ||||||||||||||||||||||||||
| Net revenues | ||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||
| NVIDIA Corp. | ||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Operating profit margin = 100
× (Income from operationsQ4 2023
+ Income from operationsQ3 2023
+ Income from operationsQ2 2023
+ Income from operationsQ1 2023)
÷ (Net revenuesQ4 2023
+ Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Income from Operations
- The income from operations showed an overall growth trend from 2019 through the end of 2022, with some volatility. Starting at 7,134 thousand USD in the first quarter of 2019, it increased steadily to reach a peak of 156,960 thousand USD in the last quarter of 2022. There were fluctuations in the quarterly performance, notably a dip in mid-2020, followed by a significant rebound and continued growth into 2022. However, in 2023 the income from operations sharply declined, turning negative in the last quarter with -10,231 thousand USD, indicating a considerable operational challenge or increased costs impacting profitability.
- Net Revenues
- Net revenues demonstrated a consistent increase over the period analyzed, growing substantially from 100,150 thousand USD in the first quarter of 2019 to a high of 726,016 thousand USD in the second quarter of 2023. The highest revenue levels were recorded during 2022 and early 2023, reflecting solid growth. However, there was a notable decline starting from the third quarter of 2023, dropping sharply to 302,570 thousand USD by the last quarter of 2023. This decline signals a potential contraction in sales or volume during that period.
- Operating Profit Margin
- The operating profit margin was introduced from the first quarter of 2020, showing an upward trajectory from 16.45% to a peak of 24.07% in the last quarter of 2020. Following that, the margin slightly decreased but remained strong and relatively stable between roughly 14% and 22%, indicating sustained operational efficiency and profitability. Margins saw some fluctuations in 2021 and 2022, with a minimum of approximately 14.21% and a general trend towards recovery and improvement into 2023. In the last quarter of 2023, the margin dropped to 19.46%, consistent with the downturn observed in income from operations and net revenues.
- Overall Analysis
- The company displayed strong growth in both net revenues and income from operations through 2022, accompanied by healthy operating profit margins indicating effective cost management and operational leverage. The sharp decline in income from operations and net revenues in 2023, particularly in the last quarter, along with a reduced but still positive operating margin, suggests emerging financial pressures. This shift may warrant further investigation into potential causes such as market conditions, cost structure changes, or other external factors affecting operational performance and revenue generation.
Net Profit Margin
Enphase Energy Inc., net profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||
| Net revenues | ||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||
| NVIDIA Corp. | ||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Net profit margin = 100
× (Net income (loss)Q4 2023
+ Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023)
÷ (Net revenuesQ4 2023
+ Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Trends
-
The net income demonstrates significant volatility throughout the reported quarters. Early data from 2019 show a fluctuating but overall upward trend, culminating in a notable peak at the end of 2019 with a net income of 116,666 thousand USD.
In 2020, fluctuations continued with a sharp drop to a negative net income of 47,294 thousand USD in the second quarter, followed by recovery and growth, ending the year at 72,991 thousand USD.
The years 2021 and 2022 exhibit a steady increase in profitability, with quarterly net income rising consistently, reaching a peak of 153,753 thousand USD in the final quarter of 2022.
The first three quarters of 2023 suggest some instability, with net income decreasing to 20,919 thousand USD in the last quarter reported, indicating potential challenges or transitional periods. - Net Revenues Trends
-
Net revenues have shown a general upward trajectory over the entire period. Starting from 100,150 thousand USD in the first quarter of 2019, revenues trend upwards with some seasonal or quarterly variations.
Notably, there is a marked acceleration starting mid-2020, with revenues increasing sharply and peaking at 724,652 thousand USD in the third quarter of 2022.
Following this peak, net revenues decline noticeably in late 2022 and throughout 2023, dropping to 302,570 thousand USD by the last quarter reported. This decline might suggest market challenges, reduced sales volume, or changes in pricing. - Net Profit Margin Analysis
-
The net profit margin data begins appearing in the first quarter of 2020. Initial margins are relatively high, reaching approximately 31.15% in the second quarter of 2020.
Over the subsequent quarters, margins fluctuate between approximately 10% and 25%, indicating variability in cost structures or revenue quality.
From late 2021 through 2023, there is a clear upward trend in profitability, with margins generally increasing and peaking at 21.08% in the third quarter of 2023.
The last recorded margin decreases slightly to 19.16%, still within a strong profitability range. - Overall Insights
-
The financial performance reveals periods of rapid growth in revenues and profitability, especially around late 2019 and 2021-2022.
However, notable volatility in both net income and revenues during 2020 and again in 2023 highlights potential risks or external factors affecting performance.
Despite these fluctuations, the net profit margin trend suggests improving efficiency or better cost management over time, with profitability metrics remaining robust even during periods of revenue decline.
Return on Equity (ROE)
Enphase Energy Inc., ROE calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||
| Stockholders’ equity (deficit) | ||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||
| NVIDIA Corp. | ||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
ROE = 100
× (Net income (loss)Q4 2023
+ Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023)
÷ Stockholders’ equity (deficit)
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income (Loss)
- The net income exhibits significant fluctuations over the observed periods. Starting from a modest positive figure of approximately 2.8 million USD in March 2019, net income surged substantially to over 116 million USD by December 2019. This was followed by notable volatility in 2020, with a loss recorded in the second quarter (-47.3 million USD) before recovering to positive territory for the subsequent quarters. From 2021 onwards, the company maintained positive net income, reaching peaks above 157 million USD in December 2021 and again in September 2023. However, the most recent quarter shows a sharp decline to around 21 million USD, indicating increased volatility or challenges in the latest period.
- Stockholders’ Equity (Deficit)
- The equity base has demonstrated a robust and consistent upward trend throughout the timeline. Beginning at approximately 14.1 million USD in March 2019, stockholders' equity expanded substantially, peaking at over 1 billion USD in December 2023. Although there was a noticeable dip between December 2021 and March 2022, equity levels quickly rebounded and continued to grow thereafter. This steady increase reflects accumulation of retained earnings, capital injections, or favorable changes in comprehensive income, enhancing the company's financial stability and capacity to support operations or growth.
- Return on Equity (ROE)
- ROE values are available starting from late 2019, indicating strong profitability relative to equity during most periods. After an exceptionally high ROE of nearly 59% in December 2019 and 72% in March 2020, the ratio declined somewhat but remained elevated, fluctuating generally between 25% and 60% in subsequent quarters. Notably, the ROE remained consistently above 40% from late 2021 through 2023, reflecting efficient generation of profit on equity invested. The most recent quarters still show strong returns, with ROE declining moderately to around 44.6% in December 2023, which remains a high level in comparison to typical industry standards.
- Overall Analysis
- The financial data indicate a company experiencing rapid growth and profitability with some periods of volatility, especially in net income. The sharp swings in quarterly net income during 2020 suggest exposure to market or operational risks, but subsequent periods demonstrate recovery and strong earnings generation. Strengthening of stockholders' equity over time supports a more solid capital foundation. Elevated ROE figures across most recent periods confirm effective use of equity to generate profits, underscoring operational efficiency and profitability. However, the notable decrease in net income in the latest quarter requires monitoring for potential emerging challenges or cyclical impacts.
Return on Assets (ROA)
Enphase Energy Inc., ROA calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income (loss) | ||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||
| NVIDIA Corp. | ||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
ROA = 100
× (Net income (loss)Q4 2023
+ Net income (loss)Q3 2023
+ Net income (loss)Q2 2023
+ Net income (loss)Q1 2023)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals distinct patterns in net income, total assets, and return on assets (ROA) over the observed periods.
- Net Income (Loss)
- The net income experienced significant fluctuations throughout the quarters. From March 2019 to December 2019, net income showed a general upward trajectory, peaking notably at the end of 2019. However, the first half of 2020 exhibited volatility, with net income dipping into a loss in June 2020. Following that, net income rebounded and demonstrated a rising trend through 2021 and into 2022, reaching a peak in December 2022. The beginning of 2023 showed continued strong performance, though a decline was observed in the last quarter, indicating some instability or one-time effects impacting profitability at year-end.
- Total Assets
- Total assets revealed steady growth over the entire period, expanding substantially from just over $319 million in early 2019 to more than $3.38 billion by the end of 2023. Notably, there was rapid asset accumulation from 2019 through 2021, with moderate growth afterward. The asset base peaked mid-2023 and slightly declined in the final quarter, which could suggest asset reallocation, disposals, or valuation adjustments.
- Return on Assets (ROA)
- The ROA data are available starting in December 2019, showing a downward trend initially from about 22.6% to around 7.0% by March 2021. From that point forward, ROA gradually improved, climbing back to approximately 16% by September 2023 before decreasing to nearly 13% at year-end. This pattern reflects the company's profitability generated from its asset base had initial pressure but later recovered, aligning with net income trends though showing some volatility towards the end of the period.
In summary, the data indicates that while total assets grew robustly and steadily, net income and profitability experienced volatility with periods of significant recovery and declines. The ROA trend corroborates the fluctuating efficiency in generating profits from the asset base, with a notable recovery after a low point in early 2021 but some weakening at the end of 2023. This suggests operational challenges or market conditions affected margins and returns despite asset growth.