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
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Profitability Ratios (Summary)
Express Scripts Holding Co., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
- Gross Profit Margin
- The gross profit margin demonstrated a gradual upward trend over the observed periods. Starting at 7.78% in the first quarter of 2014, it showed slight but consistent increases, reaching 8.81% by the third quarter of 2018. This steady improvement indicates enhanced efficiency in managing costs related to goods sold or services rendered relative to revenue.
- Operating Profit Margin
- The operating profit margin exhibited consistent growth throughout the timeframe. Beginning at 3.36% in the first quarter of 2014, it progressively improved to a peak of 5.49% in the fourth quarter of 2017 before experiencing a minor decline to 5.27% by the third quarter of 2018. This pattern reflects increasing operational efficiency and better control over operating expenses over time.
- Net Profit Margin
- The net profit margin showed a clear upward trajectory across the reported quarters. The margin improved from 1.77% in early 2014 to 4.83% by the third quarter of 2018, indicating stronger overall profitability after accounting for all expenses, taxes, and non-operating items. Notably, the increase became more pronounced starting in 2016, signaling improved bottom-line performance.
- Return on Equity (ROE)
- The return on equity reflected a significant and steady increase over the periods analyzed. Beginning at 8.23% in the first quarter of 2014, ROE climbed substantially, peaking at 24.93% in the fourth quarter of 2017 before slightly moderating to 23.82% in the third quarter of 2018. This indicates that the company was increasingly effective in generating profits from shareholders' equity, enhancing shareholder value.
- Return on Assets (ROA)
- Return on assets also showed consistent growth, advancing from 3.41% in early 2014 to 8.84% by the third quarter of 2018. The acceleration in ROA after 2015 reflects improved asset utilization and profitability, indicating more efficient use of the company's assets to generate earnings.
Return on Sales
Return on Investment
Gross Profit Margin
Express Scripts Holding Co., gross profit margin calculation (quarterly data)
| Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
1 Q3 2018 Calculation
Gross profit margin = 100
× (Gross profitQ3 2018
+ Gross profitQ2 2018
+ Gross profitQ1 2018
+ Gross profitQ4 2017)
÷ (RevenuesQ3 2018
+ RevenuesQ2 2018
+ RevenuesQ1 2018
+ RevenuesQ4 2017)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals notable trends in revenue, gross profit, and gross profit margin over the analyzed periods.
- Revenues
- Revenues show fluctuation without a clear consistent growth trajectory. After increasing from approximately US$23.7 billion in March 2014 to a peak near US$26.3 billion by December 2014, revenues then generally decline and fluctuate around a range between US$24.6 billion and US$26.4 billion in subsequent years. The data suggests moderate volatility with no strong upward or downward secular trend over the full time span.
- Gross Profit
- Gross profit trends generally follow the direction of revenues but with some variability in magnitude. From about US$1.75 billion in March 2014, gross profit rose steadily to a high near US$2.33 billion at the end of 2016, before experiencing some fluctuations around the US$2.2 billion to US$2.5 billion range later. The gross profit appears to maintain a general upward trajectory, indicating cost management may be improving even while revenues show some instability.
- Gross Profit Margin
- The gross profit margin demonstrates a gradual but consistent improvement throughout the entire period. Starting at approximately 7.78% in early 2014, the margin increases steadily, reaching around 8.8% by late 2018. This upward trend in margin percentage suggests improved efficiency or favorable shifts in cost structure relative to revenue generation over time.
In summary, while total revenues exhibit some fluctuations and lack a clear growth trend, the company shows positive signs in profitability metrics. Gross profit generally increases in absolute terms, and gross profit margin consistently improves, indicating enhanced operational efficiency or better pricing dynamics. The data points to a strengthening profitability profile despite inconsistent revenue trends.
Operating Profit Margin
Express Scripts Holding Co., operating profit margin calculation (quarterly data)
| Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Operating income | |||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
1 Q3 2018 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2018
+ Operating incomeQ2 2018
+ Operating incomeQ1 2018
+ Operating incomeQ4 2017)
÷ (RevenuesQ3 2018
+ RevenuesQ2 2018
+ RevenuesQ1 2018
+ RevenuesQ4 2017)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The analysis of the quarterly financial performance reveals several notable trends in the company's operating income, revenues, and operating profit margin over the observed periods.
- Operating Income
- Operating income demonstrates a generally upward trajectory with seasonal fluctuations. In the earlier periods, operating income ranged from approximately 709 million to over 1.2 billion US dollars, showing significant growth peaks in the third and fourth quarters of 2015. A mirroring seasonal trend is evident in the subsequent years, with some volatility observed in the first quarters, notably a drop in the first quarter of 2016 and 2018. Despite this volatility, the overall trend from 2014 through 2018 signals a growing operating income base, with the highest reported figures reaching around 1.58 billion US dollars in late 2017.
- Revenues
- Revenues have exhibited relative stability with moderate fluctuations within a band of approximately 23.7 billion to 26.3 billion US dollars throughout the quarters analyzed. Although there are some peaks in the fourth quarters of 2014 and 2017, followed by troughs in early 2015 and early 2018, the revenue figures do not present a strong upward or downward long-term trend but rather indicate a stable revenue base with seasonal variations. The data suggest steady top-line performance with no dramatic increases or declines.
- Operating Profit Margin
- The operating profit margin shows a consistent and clear upward trend across the periods, improving from low 3% ranges in 2014 to above 5% from late 2016 onward. This steady margin growth implies enhanced operational efficiency or cost management over time. Notably, the margin peaks slightly above 5.4% in late 2017 and maintains a level above 5.2% into 2018, reflecting improved profitability relative to revenue.
Overall, the company's financial performance indicates robust improvement in profitability through rising operating income and operating profit margins, despite relatively stable revenue levels. The upward margin trend suggests effective cost controls and efficiency gains, which have translated into higher income even without substantial revenue increases. Seasonal fluctuations are observed in operating income and revenues, underlining the importance of periodic factors in the company’s financial results.
Net Profit Margin
Express Scripts Holding Co., net profit margin calculation (quarterly data)
| Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net income attributable to Express Scripts | |||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
1 Q3 2018 Calculation
Net profit margin = 100
× (Net income attributable to Express ScriptsQ3 2018
+ Net income attributable to Express ScriptsQ2 2018
+ Net income attributable to Express ScriptsQ1 2018
+ Net income attributable to Express ScriptsQ4 2017)
÷ (RevenuesQ3 2018
+ RevenuesQ2 2018
+ RevenuesQ1 2018
+ RevenuesQ4 2017)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial performance over the observed periods reveals several key trends in profitability and revenue generation.
- Net Income
- Net income exhibited a generally increasing trend over the periods, with fluctuations between quarters. Initially, net income rose from 328,300 thousand US dollars in the first quarter of 2014 to a peak of 773,500 thousand US dollars by the end of 2015. After a slight decline in early 2016, net income showed a strong upward surge, culminating in a significant peak of 2,327,600 thousand US dollars in the last quarter of 2017. This peak indicates a notable improvement in profitability during that period. Following this peak, there was a decrease, but net income remained higher than earlier years, maintaining levels above 600,000 thousand US dollars in subsequent quarters through to late 2018.
- Revenues
- Revenues demonstrated relatively stable performance, with minor fluctuations across the quarters. The revenue figures mostly ranged between approximately 24,600,000 and 26,300,000 thousand US dollars quarterly. There is no clear consistent upward or downward trend in revenues, indicating stable sales or service volume over the periods. Despite seasonal variations and some slight decreases, revenues did not exhibit significant volatility nor sustained growth.
- Net Profit Margin
- The net profit margin showed a clear and steady improvement throughout the periods. Starting at 1.77% in early 2014, the margin rose gradually, with small incremental increases each quarter, reaching 4.83% by the third quarter of 2018. This consistent enhancement suggests improved efficiency in operations or cost control measures, allowing the company to convert a higher percentage of revenue into profit over time. The margin growth is particularly notable during 2016 and 2017, coinciding with the surge in net income levels, further confirming increased profitability efficiency during these years.
In summary, while revenues remained relatively consistent with slight fluctuations, net income showed significant growth with some sharp increases, especially in late 2017. The expanding net profit margin corroborates this positive profitability trend, indicating enhanced operational performance and cost management. These factors collectively suggest a strengthening financial position and improved earnings quality during the observed timeframe.
Return on Equity (ROE)
Express Scripts Holding Co., ROE calculation (quarterly data)
| Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net income attributable to Express Scripts | |||||||||||||||||||||||||
| Total Express Scripts stockholders’ equity | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
1 Q3 2018 Calculation
ROE = 100
× (Net income attributable to Express ScriptsQ3 2018
+ Net income attributable to Express ScriptsQ2 2018
+ Net income attributable to Express ScriptsQ1 2018
+ Net income attributable to Express ScriptsQ4 2017)
÷ Total Express Scripts stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data over the presented periods reveals notable trends in profitability and equity performance.
- Net Income Attributable to Express Scripts
- The net income shows a generally increasing trend with some fluctuations. Initially, net income rose significantly from 328,300 thousand US dollars in March 2014 to 773,500 thousand by December 2015. Despite a dip in early 2016, reaching 526,100 thousand in March, the income rebounded strongly reaching a peak of 2,327,600 thousand in December 2017. The subsequent quarters in 2018 maintained relatively high values, above 600,000 thousand US dollars, indicating strong profitability in recent periods.
- Total Express Scripts Stockholders’ Equity
- The stockholders’ equity experienced a gradual decline from 21,874,300 thousand US dollars in March 2014 to a low near 15,822,200 thousand in June 2015. Subsequently, equity gradually increased again, reaching 20,565,900 thousand by September 2018. This pattern suggests a period of contraction followed by recovery and growth in the company's equity base.
- Return on Equity (ROE)
- The ROE demonstrates a consistent and robust upward trend throughout the observed periods. Beginning at 8.23% in March 2014, the ROE improves steadily with minor variability, ultimately reaching nearly 24% by late 2017 and early 2018. This improvement reflects enhanced efficiency in generating net income relative to equity, indicating increasing value creation for shareholders over time.
In summary, the data indicates that profitability, as measured by net income, increased substantially particularly towards the end of 2017. Despite fluctuations in equity, the company managed to improve shareholder returns as evidenced by the rising ROE. These trends suggest strengthening operational performance and an improved capacity to leverage equity for generating earnings.
Return on Assets (ROA)
Express Scripts Holding Co., ROA calculation (quarterly data)
| Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||
| Net income attributable to Express Scripts | |||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
1 Q3 2018 Calculation
ROA = 100
× (Net income attributable to Express ScriptsQ3 2018
+ Net income attributable to Express ScriptsQ2 2018
+ Net income attributable to Express ScriptsQ1 2018
+ Net income attributable to Express ScriptsQ4 2017)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data over the analyzed periods reveals a generally positive trend in profitability and efficiency indicators for the company.
- Net Income
- The net income attributable to the company shows variability from quarter to quarter but with an overall upward trajectory. Early quarters in 2014 recorded values around 328 million USD to 582 million USD, which fluctuated through 2015 and 2016. A notable increase is observed in the fourth quarter of 2016 and throughout 2017 and 2018, with net income peaking significantly in the last quarters, reaching over 2.3 billion USD at the end of 2017 and maintaining high values above 600 million USD in the first quarter of 2018. This growth indicates strengthening profitability over time.
- Total Assets
- The total assets show relative stability with mild fluctuations across the quarters. Starting from approximately 52.7 billion USD at the beginning of 2014, the asset base slightly decreased during 2015 and 2016, reaching levels near 50.5 billion USD toward the end of 2017. However, a recovery is noted in 2018, where assets increase again to above 54 billion USD by the third quarter. This pattern suggests cautious asset management with some strategic adjustments or market variations affecting the asset base.
- Return on Assets (ROA)
- The ROA demonstrates a consistent improvement over the course of the observed periods. Beginning around 3.4% in early 2014, there is a steady increase each year, reaching 4.65% by the end of 2015 and continuing to rise through subsequent years. By the end of 2017, the ROA is notably higher at approximately 8.33%, further improving to 8.84% by the third quarter of 2018. This positive momentum in ROA reflects enhanced efficiency in generating profits from the asset base, underscoring effective management and operational performance.
In summary, the analyzed data indicates a company that has strengthened its profitability and asset utilization over the reported quarters, with net income and ROA showing significant growth while total assets have remained relatively stable with moderate fluctuations. This reflects a sound financial improvement trajectory and effective use of resources.