Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

NVIDIA Corp. (NASDAQ:NVDA)

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Beginner level

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

NVIDIA Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Jul 26, 2020 24.36% = 13.46% × 1.81
Apr 26, 2020 25.34% = 14.27% × 1.78
Jan 26, 2020 22.91% = 16.15% × 1.42
Oct 27, 2019 21.50% = 15.25% × 1.41
Jul 28, 2019 26.53% = 18.56% × 1.43
Apr 28, 2019 33.91% = 23.47% × 1.44
Jan 27, 2019 44.33% = 31.15% × 1.42
Oct 28, 2018 49.54% = 34.37% × 1.44
Jul 29, 2018 48.91% = 33.40% × 1.46
Apr 29, 2018 49.03% = 33.02% × 1.49
Jan 28, 2018 40.78% = 27.11% × 1.50
Oct 29, 2017 40.66% = 26.28% × 1.55
Jul 30, 2017 38.29% = 24.32% × 1.57
Apr 30, 2017 32.05% = 20.88% × 1.53
Jan 29, 2017 28.91% = 16.93% × 1.71
Oct 30, 2016 22.90% = 12.68% × 1.81
Jul 31, 2016 20.60% = 12.37% × 1.67
May 1, 2016 16.40% = 9.68% × 1.69
Jan 31, 2016 13.74% = 8.33% × 1.65
Oct 25, 2015 13.42% = 8.35% × 1.61
Jul 26, 2015 12.57% = 7.54% × 1.67
Apr 26, 2015 13.79% = 8.61% × 1.60
Jan 25, 2015 14.27% = 8.76% × 1.63
Oct 26, 2014 — = — × 1.64
Jul 27, 2014 — = — × 1.61
Apr 27, 2014 — = — × 1.65

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2021 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

NVIDIA Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Jul 26, 2020 24.36% = 25.94% × 0.52 × 1.81
Apr 26, 2020 25.34% = 28.18% × 0.51 × 1.78
Jan 26, 2020 22.91% = 25.61% × 0.63 × 1.42
Oct 27, 2019 21.50% = 24.07% × 0.63 × 1.41
Jul 28, 2019 26.53% = 26.92% × 0.69 × 1.43
Apr 28, 2019 33.91% = 30.67% × 0.77 × 1.44
Jan 27, 2019 44.33% = 35.34% × 0.88 × 1.42
Oct 28, 2018 49.54% = 37.79% × 0.91 × 1.44
Jul 29, 2018 48.91% = 36.22% × 0.92 × 1.46
Apr 29, 2018 49.03% = 34.45% × 0.96 × 1.49
Jan 28, 2018 40.78% = 31.37% × 0.86 × 1.50
Oct 29, 2017 40.66% = 28.78% × 0.91 × 1.55
Jul 30, 2017 38.29% = 27.41% × 0.89 × 1.57
Apr 30, 2017 32.05% = 26.05% × 0.80 × 1.53
Jan 29, 2017 28.91% = 24.11% × 0.70 × 1.71
Oct 30, 2016 22.90% = 19.86% × 0.64 × 1.81
Jul 31, 2016 20.60% = 16.97% × 0.73 × 1.67
May 1, 2016 16.40% = 13.32% × 0.73 × 1.69
Jan 31, 2016 13.74% = 12.26% × 0.68 × 1.65
Oct 25, 2015 13.42% = 12.33% × 0.68 × 1.61
Jul 26, 2015 12.57% = 11.01% × 0.68 × 1.67
Apr 26, 2015 13.79% = 13.28% × 0.65 × 1.60
Jan 25, 2015 14.27% = 13.47% × 0.65 × 1.63
Oct 26, 2014 — = — × — × 1.64
Jul 27, 2014 — = — × — × 1.61
Apr 27, 2014 — = — × — × 1.65

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2021 is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

NVIDIA Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Jul 26, 2020 24.36% = 0.95 × 0.97 × 28.09% × 0.52 × 1.81
Apr 26, 2020 25.34% = 0.93 × 0.98 × 30.79% × 0.51 × 1.78
Jan 26, 2020 22.91% = 0.94 × 0.98 × 27.68% × 0.63 × 1.42
Oct 27, 2019 21.50% = 1.06 × 0.98 × 23.27% × 0.63 × 1.41
Jul 28, 2019 26.53% = 1.14 × 0.98 × 24.10% × 0.69 × 1.43
Apr 28, 2019 33.91% = 1.11 × 0.98 × 28.24% × 0.77 × 1.44
Jan 27, 2019 44.33% = 1.06 × 0.99 × 33.75% × 0.88 × 1.42
Oct 28, 2018 49.54% = 1.01 × 0.99 × 37.92% × 0.91 × 1.44
Jul 29, 2018 48.91% = 0.96 × 0.99 × 38.11% × 0.92 × 1.46
Apr 29, 2018 49.03% = 0.95 × 0.99 × 36.70% × 0.96 × 1.49
Jan 28, 2018 40.78% = 0.95 × 0.98 × 33.53% × 0.86 × 1.50
Oct 29, 2017 40.66% = 0.91 × 0.98 × 32.38% × 0.91 × 1.55
Jul 30, 2017 38.29% = 0.89 × 0.98 × 31.54% × 0.89 × 1.57
Apr 30, 2017 32.05% = 0.89 × 0.97 × 29.99% × 0.80 × 1.53
Jan 29, 2017 28.91% = 0.87 × 0.97 × 28.41% × 0.70 × 1.71
Oct 30, 2016 22.90% = 0.85 × 0.97 × 24.18% × 0.64 × 1.81
Jul 31, 2016 20.60% = 0.87 × 0.96 × 20.30% × 0.73 × 1.67
May 1, 2016 16.40% = 0.85 × 0.95 × 16.63% × 0.73 × 1.69
Jan 31, 2016 13.74% = 0.83 × 0.94 × 15.77% × 0.68 × 1.65
Oct 25, 2015 13.42% = 0.84 × 0.94 × 15.73% × 0.68 × 1.61
Jul 26, 2015 12.57% = 0.77 × 0.94 × 15.23% × 0.68 × 1.67
Apr 26, 2015 13.79% = 0.82 × 0.94 × 17.13% × 0.65 × 1.60
Jan 25, 2015 14.27% = 0.84 × 0.94 × 17.11% × 0.65 × 1.63
Oct 26, 2014 — = — × — × — × — × 1.64
Jul 27, 2014 — = — × — × — × — × 1.61
Apr 27, 2014 — = — × — × — × — × 1.65

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2021 is the decrease in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

NVIDIA Corp., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Jul 26, 2020 13.46% = 25.94% × 0.52
Apr 26, 2020 14.27% = 28.18% × 0.51
Jan 26, 2020 16.15% = 25.61% × 0.63
Oct 27, 2019 15.25% = 24.07% × 0.63
Jul 28, 2019 18.56% = 26.92% × 0.69
Apr 28, 2019 23.47% = 30.67% × 0.77
Jan 27, 2019 31.15% = 35.34% × 0.88
Oct 28, 2018 34.37% = 37.79% × 0.91
Jul 29, 2018 33.40% = 36.22% × 0.92
Apr 29, 2018 33.02% = 34.45% × 0.96
Jan 28, 2018 27.11% = 31.37% × 0.86
Oct 29, 2017 26.28% = 28.78% × 0.91
Jul 30, 2017 24.32% = 27.41% × 0.89
Apr 30, 2017 20.88% = 26.05% × 0.80
Jan 29, 2017 16.93% = 24.11% × 0.70
Oct 30, 2016 12.68% = 19.86% × 0.64
Jul 31, 2016 12.37% = 16.97% × 0.73
May 1, 2016 9.68% = 13.32% × 0.73
Jan 31, 2016 8.33% = 12.26% × 0.68
Oct 25, 2015 8.35% = 12.33% × 0.68
Jul 26, 2015 7.54% = 11.01% × 0.68
Apr 26, 2015 8.61% = 13.28% × 0.65
Jan 25, 2015 8.76% = 13.47% × 0.65
Oct 26, 2014 — = — × —
Jul 27, 2014 — = — × —
Apr 27, 2014 — = — × —

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2021 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

NVIDIA Corp., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Jul 26, 2020 13.46% = 0.95 × 0.97 × 28.09% × 0.52
Apr 26, 2020 14.27% = 0.93 × 0.98 × 30.79% × 0.51
Jan 26, 2020 16.15% = 0.94 × 0.98 × 27.68% × 0.63
Oct 27, 2019 15.25% = 1.06 × 0.98 × 23.27% × 0.63
Jul 28, 2019 18.56% = 1.14 × 0.98 × 24.10% × 0.69
Apr 28, 2019 23.47% = 1.11 × 0.98 × 28.24% × 0.77
Jan 27, 2019 31.15% = 1.06 × 0.99 × 33.75% × 0.88
Oct 28, 2018 34.37% = 1.01 × 0.99 × 37.92% × 0.91
Jul 29, 2018 33.40% = 0.96 × 0.99 × 38.11% × 0.92
Apr 29, 2018 33.02% = 0.95 × 0.99 × 36.70% × 0.96
Jan 28, 2018 27.11% = 0.95 × 0.98 × 33.53% × 0.86
Oct 29, 2017 26.28% = 0.91 × 0.98 × 32.38% × 0.91
Jul 30, 2017 24.32% = 0.89 × 0.98 × 31.54% × 0.89
Apr 30, 2017 20.88% = 0.89 × 0.97 × 29.99% × 0.80
Jan 29, 2017 16.93% = 0.87 × 0.97 × 28.41% × 0.70
Oct 30, 2016 12.68% = 0.85 × 0.97 × 24.18% × 0.64
Jul 31, 2016 12.37% = 0.87 × 0.96 × 20.30% × 0.73
May 1, 2016 9.68% = 0.85 × 0.95 × 16.63% × 0.73
Jan 31, 2016 8.33% = 0.83 × 0.94 × 15.77% × 0.68
Oct 25, 2015 8.35% = 0.84 × 0.94 × 15.73% × 0.68
Jul 26, 2015 7.54% = 0.77 × 0.94 × 15.23% × 0.68
Apr 26, 2015 8.61% = 0.82 × 0.94 × 17.13% × 0.65
Jan 25, 2015 8.76% = 0.84 × 0.94 × 17.11% × 0.65
Oct 26, 2014 — = — × — × — × —
Jul 27, 2014 — = — × — × — × —
Apr 27, 2014 — = — × — × — × —

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2021 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

NVIDIA Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Jul 26, 2020 25.94% = 0.95 × 0.97 × 28.09%
Apr 26, 2020 28.18% = 0.93 × 0.98 × 30.79%
Jan 26, 2020 25.61% = 0.94 × 0.98 × 27.68%
Oct 27, 2019 24.07% = 1.06 × 0.98 × 23.27%
Jul 28, 2019 26.92% = 1.14 × 0.98 × 24.10%
Apr 28, 2019 30.67% = 1.11 × 0.98 × 28.24%
Jan 27, 2019 35.34% = 1.06 × 0.99 × 33.75%
Oct 28, 2018 37.79% = 1.01 × 0.99 × 37.92%
Jul 29, 2018 36.22% = 0.96 × 0.99 × 38.11%
Apr 29, 2018 34.45% = 0.95 × 0.99 × 36.70%
Jan 28, 2018 31.37% = 0.95 × 0.98 × 33.53%
Oct 29, 2017 28.78% = 0.91 × 0.98 × 32.38%
Jul 30, 2017 27.41% = 0.89 × 0.98 × 31.54%
Apr 30, 2017 26.05% = 0.89 × 0.97 × 29.99%
Jan 29, 2017 24.11% = 0.87 × 0.97 × 28.41%
Oct 30, 2016 19.86% = 0.85 × 0.97 × 24.18%
Jul 31, 2016 16.97% = 0.87 × 0.96 × 20.30%
May 1, 2016 13.32% = 0.85 × 0.95 × 16.63%
Jan 31, 2016 12.26% = 0.83 × 0.94 × 15.77%
Oct 25, 2015 12.33% = 0.84 × 0.94 × 15.73%
Jul 26, 2015 11.01% = 0.77 × 0.94 × 15.23%
Apr 26, 2015 13.28% = 0.82 × 0.94 × 17.13%
Jan 25, 2015 13.47% = 0.84 × 0.94 × 17.11%
Oct 26, 2014 — = — × — × —
Jul 27, 2014 — = — × — × —
Apr 27, 2014 — = — × — × —

Based on: 10-Q (filing date: 2020-08-19), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

The primary reason for the decrease in net profit margin ratio over Q2 2021 is the decrease in operating profitability measured by EBIT margin ratio.