Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Profitability Ratios (Summary)
Monster Beverage Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 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 demonstrates a declining trend from March 31, 2020, when it stood at approximately 59.95%, decreasing steadily to a low of 50.3% by December 31, 2022. Following this trough, a moderate recovery is visible, with the margin increasing to 53.45% by March 31, 2024. This suggests a period of margin compression possibly due to rising costs or pricing pressures, with some improvement in recent quarters.
- Operating profit margin
- The operating profit margin initially rose slightly from 33.4% in March 31, 2020, reaching a peak of 35.51% at March 31, 2021. However, after this peak, it declined gradually to 25.11% by December 31, 2022. From there, it shows signs of recovery, finishing at 27.39% in March 31, 2024. This pattern implies increased operating expenses or cost challenges following early 2021, along with recent efforts toward operational efficiency.
- Net profit margin
- The net profit margin rose markedly from 26.37% in March 31, 2020, to a high of 30.65% by March 31, 2021. Subsequently, it decreased steadily to a low of 18.88% in December 31, 2022, indicative of pressures on bottom-line profitability. Thereafter, a gradual improvement is observed, with the margin reaching 22.83% as of March 31, 2024. These fluctuations mirror the broader profitability challenges and partial recovery reflected in operating results.
- Return on equity (ROE)
- Return on equity peaked at 29.07% during June 30, 2019, followed by a mostly downward trajectory, dropping to 16.96% by March 31, 2023. The last four quarters show a modest upward correction, ending at 19.53% in March 31, 2024. The declining ROE suggests diminishing efficiency in generating returns on shareholders' equity over most of the period, with some recent improvement.
- Return on assets (ROA)
- The return on assets also followed a declining trend from 23.05% in June 30, 2019, falling to 14.37% by March 31, 2023. In the most recent periods, ROA recovered somewhat to 16.59% by March 31, 2024. This indicates a decrease in the overall effectiveness of asset utilization for generating earnings over time, partially reversing in the latest quarters.
Return on Sales
Return on Investment
Gross Profit Margin
Monster Beverage Corp., gross profit margin calculation (quarterly data)
| Mar 31, 2024 | 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 sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||||||
| Mondelēz International Inc. | ||||||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Gross profit margin = 100
× (Gross profitQ1 2024
+ Gross profitQ4 2023
+ Gross profitQ3 2023
+ Gross profitQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The analyzed financial data reveals distinct trends and fluctuations in gross profit, net sales, and gross profit margin over the reported periods.
- Gross Profit
- Gross profit demonstrates a generally upward trajectory from March 2019 through March 2024. There is a noticeable increase from 573,532 thousand US dollars in March 2019 to over 1,027,129 thousand US dollars in March 2024. Despite some quarter-to-quarter volatility, the overall pattern indicates sustained growth. Periods such as June 2021 and September 2023 show peaks above 900,000 thousand US dollars, highlighting strong profitability in several recent quarters.
- Net Sales
- Net sales also follow an increasing trend over the time frame. Starting at 945,991 thousand US dollars in March 2019, net sales rise markedly to nearly 1,899,098 thousand US dollars by March 2024. The data exhibit some fluctuations each quarter, but the growth is consistent and robust, indicating expanding revenue generation. The net sales peak notably in June 2023 and September 2023 quarters, aligning with strong gross profit figures in those periods.
- Gross Profit Margin
- The gross profit margin presents a declining trend from early 2020, where it is around 59.95%, down to slightly above 50% from 2021 onward. The margin decreases steadily through 2022 and 2023, reaching lows around 50.3% to 50.74%. However, from late 2023 into early 2024, there is a moderate recovery with the margin increasing towards 53.45%. This trend suggests pressure on profitability ratios despite increasing sales and gross profits, possibly indicating higher costs or changing pricing strategies during the period.
In summary, the company exhibits strong growth in revenue and gross profit across the observed quarters, with net sales nearly doubling from 2019 to 2024. The gross profit margin contraction suggests challenges in maintaining profitability proportions relative to sales, although a slight improvement towards the end of the period may point to operational adjustments or market conditions improving. These patterns reflect a dynamic financial profile with overall positive growth tempered by margin pressures during most of the time frame.
Operating Profit Margin
Monster Beverage Corp., operating profit margin calculation (quarterly data)
| Mar 31, 2024 | 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) | ||||||||||||||||||||||||||||
| Operating income | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||||||
| Mondelēz International Inc. | ||||||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Operating profit margin = 100
× (Operating incomeQ1 2024
+ Operating incomeQ4 2023
+ Operating incomeQ3 2023
+ Operating incomeQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrated a generally upward trend throughout the examined quarterly periods. Starting at approximately 946 million USD in the first quarter of 2019, sales increased steadily with some fluctuations, reaching over 1.9 billion USD by the first quarter of 2024. Notably, there were periods of sharper growth, such as from mid-2021 through mid-2023, where sales consistently exceeded previous year levels. Some quarter-to-quarter variation is observed, with a mild dip near the end of 2023 before rising again in early 2024.
- Operating Income
- Operating income showed variability but maintained an overall rising tendency. Beginning at around 311 million USD in Q1 2019, it increased to a high above 541 million USD by Q1 2024. The data reveals several peaks, particularly in mid-2021 and early 2024. However, the pattern includes intermittent declines after peaks, suggesting possible cyclical influences or operational adjustments. Despite some quarters with reduced income compared to prior quarters, the long-term progression is positive.
- Operating Profit Margin
- The operating profit margin percentages became available starting at Q1 2020, where margins were initially strong at over 33%. From this point, a gradual decline occurred, reaching mid-20% range by late 2022. Margins decreased from approximately 35% in early 2020 to a low near 25% by the end of 2022. After this reduction, there is a modest rebound into the 27% range through 2023 and early 2024. This suggests some margin compression during the middle periods with partial recovery more recently, potentially indicating rising costs or pricing pressures followed by operational improvements.
- Overall Insights
- The enterprise exhibited robust sales growth across the full timeline, highlighting successful revenue expansion efforts. Operating income growth, while fluctuating, followed an ascending trajectory which aligns with increasing sales but is tempered by margin fluctuations. The contraction in operating profit margin during 2020-2022 points to cost management challenges or competitive pricing factors impacting profitability. The subsequent margin recovery indicates adjustments were made to restore profitability levels closer to historical norms. Taken together, the trends reflect a company navigating growth opportunities alongside cost and margin pressures, managing to achieve improved earnings over time despite interim volatility.
Net Profit Margin
Monster Beverage Corp., net profit margin calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||||||
| Mondelēz International Inc. | ||||||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Net profit margin = 100
× (Net incomeQ1 2024
+ Net incomeQ4 2023
+ Net incomeQ3 2023
+ Net incomeQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income
- The net income exhibits an overall upward trend from March 31, 2019, through March 31, 2024. Starting at 261,485 thousand US dollars in the first quarter of 2019, net income increases with some fluctuations to reach 442,049 thousand US dollars by the first quarter of 2024. Notably, there is a significant increase in the fourth quarter of 2020 (471,736 thousand USD), followed by some variability in subsequent quarters. This suggests periods of strong profitability, although occasional declines indicate some volatility in profitability across quarters.
- Net Sales
- Net sales show a consistent upward trajectory over the same timeframe, beginning at 945,991 thousand US dollars in early 2019 and increasing steadily to 1,899,098 thousand US dollars by March 31, 2024. The data demonstrates sustained revenue growth with occasional seasonal fluctuations, such as a dip in the fourth quarter of 2020 and again near the end of 2023. Overall, sales expansion appears robust, reflecting growing market demand or successful sales strategies.
- Net Profit Margin
- The net profit margin exhibits variability with a peak around late 2019 to early 2021, reaching above 30% in several quarters such as December 2019 and March 2021. However, after this peak, the margin declines progressively through 2022, reaching a low near 19.46% by December 2022. In 2023 and early 2024, the margin shows recovery, increasing again to approximately 22.83% at the end of the period. This pattern suggests some pressure on profitability ratios during 2022 with partial improvement thereafter, potentially due to cost factors, pricing adjustments, or changes in the sales mix impacting margins.
- General Observations
- The overall financial performance evidences growth in both net income and net sales, indicating expansion and potentially efficient operations. The fluctuations in net profit margin highlight changing profitability efficiency, with an apparent contraction phase in 2022 followed by stabilization and recovery. The data indicates the company has navigated both growth periods and margin pressure, suggesting an adaptive financial strategy responsive to market and operational conditions over the reported quarters.
Return on Equity (ROE)
Monster Beverage Corp., ROE calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Stockholders’ equity | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||||||
| Mondelēz International Inc. | ||||||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
ROE = 100
× (Net incomeQ1 2024
+ Net incomeQ4 2023
+ Net incomeQ3 2023
+ Net incomeQ2 2023)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data exhibit notable patterns in net income, stockholders' equity, and return on equity (ROE) over the reported quarterly periods.
- Net Income
- Net income shows a general upward trend with some fluctuations across the quarters. Starting at approximately 261 million US dollars in Q1 2019, net income rises steadily, experiencing a peak of approximately 472 million in Q4 2020. Following this peak, net income exhibits some variability but remains relatively high, reaching another significant peak close to 453 million US dollars in Q3 2023. The latest data point in Q1 2024 shows net income at about 442 million, indicating sustained strong profitability despite occasional quarter-to-quarter variations.
- Stockholders' Equity
- Stockholders’ equity demonstrates consistent growth over the entire period. Beginning at around 3.7 billion US dollars in Q1 2019, equity increases steadily each quarter, with no recorded declines. By the latest quarter, Q1 2024, stockholders’ equity reaches approximately 8.58 billion US dollars, representing more than a doubling since the start of the period. This persistent growth indicates solid capitalization and retained earnings accumulation, supporting the company’s financial stability.
- Return on Equity (ROE)
- Return on equity data, available from Q1 2020 onwards, exhibit a declining trend overall. ROE begins at approximately 26.6% in early 2020 and decreases progressively to around 17.8% by Q4 2022. After this trough, ROE shows a modest recovery, climbing to nearly 19.9% in Q3 2023 and slightly declining again to about 19.5% by Q1 2024. While ROE remains relatively high, the downward trend followed by partial rebound may suggest increased equity outpacing net income growth or changes in profitability efficiency.
In summary, the company demonstrates robust and growing net income and equity levels, indicative of strong financial growth and stability. However, the gradual decline and partial rebound in ROE suggest that while profitability remains strong, the efficiency in generating earnings from equity capital has moderated over time. These insights collectively point to a financially healthy entity with strong earnings performance complemented by prudent equity management.
Return on Assets (ROA)
Monster Beverage Corp., ROA calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||||||
| Mondelēz International Inc. | ||||||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
ROA = 100
× (Net incomeQ1 2024
+ Net incomeQ4 2023
+ Net incomeQ3 2023
+ Net incomeQ2 2023)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the financial data over several quarters reveals notable trends in net income, total assets, and return on assets (ROA) for the company.
- Net Income
- Net income demonstrates a generally upward trajectory over the observed period, with some fluctuations. Beginning at approximately 261.5 million USD in the first quarter of 2019, net income rises steadily, with a significant increase observed in the last quarter of 2020 where net income peaks at about 471.7 million USD. Following this peak, net income exhibits variability but remains at elevated levels compared to early periods, reaching around 442 million USD by the first quarter of 2024. The upward progression suggests strong profitability growth despite some periodic declines.
- Total Assets
- Total assets show a consistent expansion throughout the period. Starting just under 4.7 billion USD in the first quarter of 2019, total assets increase steadily each quarter, crossing the 10 billion USD mark by the first quarter of 2024. This indicates ongoing asset accumulation, possibly reflecting reinvestments, acquisitions, or organic growth contributing to the company’s expanding asset base.
- Return on Assets (ROA)
- ROA data begins from the first quarter of 2020 and shows a declining trend over time. Initially, ROA is robust at about 21.5% in early 2020 and remains above 20% through the end of 2020. However, from 2021 onward, ROA gradually decreases, falling to approximately 14.4% by the first quarter of 2023. A slight recovery is noted towards the end of the period, with ROA rising to about 16.6% by the first quarter of 2024. The downward trend in ROA suggests that asset growth has outpaced net income growth to some degree, impacting efficiency in asset utilization.
In summary, the company has experienced sustained growth in net income and total assets over the analyzed quarters, indicating strong overall expansion. However, the declining trend in ROA implies that while profitability in absolute terms has improved, the efficiency with which assets generate income has lessened somewhat, highlighting potential areas for improved asset management or optimization strategies going forward.