Microsoft Excel LibreOffice Calc

Qualcomm Inc. (QCOM)

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

Difficulty: Beginner

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

Two-Component Disaggregation of ROE

Qualcomm Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Jun 30, 2019 62.00% = 9.92% × 6.25
Mar 31, 2019 63.55% = 7.22% × 8.80
Dec 30, 2018 59.64% = 6.30% × 9.47
Sep 30, 2018 -524.14% = -14.88% × 35.22
Jun 24, 2018 -18.22% = -6.77% × 2.69
Mar 25, 2018 -19.12% = -7.10% × 2.69
Dec 24, 2017 -17.43% = -6.48% × 2.69
Sep 24, 2017 8.02% = 3.77% × 2.13
Jun 25, 2017 12.45% = 6.05% × 2.06
Mar 26, 2017 14.27% = 7.98% × 1.79
Dec 25, 2016 15.66% = 9.34% × 1.68
Sep 25, 2016 17.95% = 10.90% × 1.65
Jun 26, 2016 16.86% = 10.18% × 1.66
Mar 27, 2016 16.56% = 9.80% × 1.69
Dec 27, 2015 15.86% = 9.55% × 1.66
Sep 27, 2015 16.78% = 10.38% × 1.62
Jun 28, 2015 18.38% = 11.67% × 1.58
Mar 29, 2015 18.92% = 15.17% × 1.25
Dec 28, 2014 20.77% = 16.64% × 1.25
Sep 28, 2014 20.34% = 16.40% × 1.24
Jun 29, 2014 19.52% = 15.66% × 1.25
Mar 30, 2014 18.08% = 14.44% × 1.25
Dec 29, 2013 18.42% = 14.74% × 1.25
Sep 29, 2013 18.99% = 15.06% × 1.26
Jun 30, 2013 — = — × 1.25
Mar 31, 2013 — = — × 1.27
Dec 30, 2012 — = — × 1.27

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.

Three-Component Disaggregation of ROE

Qualcomm Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Jun 30, 2019 62.00% = 13.41% × 0.74 × 6.25
Mar 31, 2019 63.55% = 11.57% × 0.62 × 8.80
Dec 30, 2018 59.64% = 10.03% × 0.63 × 9.47
Sep 30, 2018 -524.14% = -21.40% × 0.70 × 35.22
Jun 24, 2018 -18.22% = -18.40% × 0.37 × 2.69
Mar 25, 2018 -19.12% = -20.15% × 0.35 × 2.69
Dec 24, 2017 -17.43% = -18.64% × 0.35 × 2.69
Sep 24, 2017 8.02% = 11.06% × 0.34 × 2.13
Jun 25, 2017 12.45% = 17.26% × 0.35 × 2.06
Mar 26, 2017 14.27% = 19.25% × 0.41 × 1.79
Dec 25, 2016 15.66% = 20.56% × 0.45 × 1.68
Sep 25, 2016 17.95% = 24.22% × 0.45 × 1.65
Jun 26, 2016 16.86% = 22.64% × 0.45 × 1.66
Mar 27, 2016 16.56% = 21.70% × 0.45 × 1.69
Dec 27, 2015 15.86% = 20.02% × 0.48 × 1.66
Sep 27, 2015 16.78% = 20.85% × 0.50 × 1.62
Jun 28, 2015 18.38% = 23.02% × 0.51 × 1.58
Mar 29, 2015 18.92% = 26.04% × 0.58 × 1.25
Dec 28, 2014 20.77% = 29.91% × 0.56 × 1.25
Sep 28, 2014 20.34% = 30.08% × 0.55 × 1.24
Jun 29, 2014 19.52% = 28.82% × 0.54 × 1.25
Mar 30, 2014 18.08% = 26.89% × 0.54 × 1.25
Dec 29, 2013 18.42% = 26.78% × 0.55 × 1.25
Sep 29, 2013 18.99% = 27.56% × 0.55 × 1.26
Jun 30, 2013 — = — × — × 1.25
Mar 31, 2013 — = — × — × 1.27
Dec 30, 2012 — = — × — × 1.27

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.

Five-Component Disaggregation of ROE

Qualcomm Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Jun 30, 2019 62.00% = 0.56 × 0.90 × 26.83% × 0.74 × 6.25
Mar 31, 2019 63.55% = 1.59 × 0.68 × 10.76% × 0.62 × 8.80
Dec 30, 2018 59.64% = 1.96 × 0.59 × 8.62% × 0.63 × 9.47
Sep 30, 2018 -524.14% = -9.48 × 0.40 × 5.64% × 0.70 × 35.22
Jun 24, 2018 -18.22% = -2.44 × 0.70 × 10.71% × 0.37 × 2.69
Mar 25, 2018 -19.12% = -2.80 × 0.72 × 10.04% × 0.35 × 2.69
Dec 24, 2017 -17.43% = -1.96 × 0.79 × 12.06% × 0.35 × 2.69
Sep 24, 2017 8.02% = 0.82 × 0.86 × 15.77% × 0.34 × 2.13
Jun 25, 2017 12.45% = 0.86 × 0.92 × 21.95% × 0.35 × 2.06
Mar 26, 2017 14.27% = 0.83 × 0.94 × 24.65% × 0.41 × 1.79
Dec 25, 2016 15.66% = 0.82 × 0.95 × 26.53% × 0.45 × 1.68
Sep 25, 2016 17.95% = 0.83 × 0.96 × 30.28% × 0.45 × 1.65
Jun 26, 2016 16.86% = 0.84 × 0.95 × 28.12% × 0.45 × 1.66
Mar 27, 2016 16.56% = 0.84 × 0.96 × 26.89% × 0.45 × 1.69
Dec 27, 2015 15.86% = 0.81 × 0.97 × 25.38% × 0.48 × 1.66
Sep 27, 2015 16.78% = 0.81 × 0.98 × 26.08% × 0.50 × 1.62
Jun 28, 2015 18.38% = 0.81 × 1.00 × 28.37% × 0.51 × 1.58
Mar 29, 2015 18.92% = 0.83 × 1.00 × 31.25% × 0.58 × 1.25
Dec 28, 2014 20.77% = 0.87 × 1.00 × 34.58% × 0.56 × 1.25
Sep 28, 2014 20.34% = 0.86 × 1.00 × 34.78% × 0.55 × 1.24
Jun 29, 2014 19.52% = 0.86 × 1.00 × 33.41% × 0.54 × 1.25
Mar 30, 2014 18.08% = 0.84 × 1.00 × 31.87% × 0.54 × 1.25
Dec 29, 2013 18.42% = 0.85 × 1.00 × 31.65% × 0.55 × 1.25
Sep 29, 2013 18.99% = 0.84 × 1.00 × 32.98% × 0.55 × 1.26
Jun 30, 2013 — = — × — × — × — × 1.25
Mar 31, 2013 — = — × — × — × — × 1.27
Dec 30, 2012 — = — × — × — × — × 1.27

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in effect of taxes measured by tax burden ratio.

Two-Component Disaggregation of ROA

Qualcomm Inc., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Jun 30, 2019 9.92% = 13.41% × 0.74
Mar 31, 2019 7.22% = 11.57% × 0.62
Dec 30, 2018 6.30% = 10.03% × 0.63
Sep 30, 2018 -14.88% = -21.40% × 0.70
Jun 24, 2018 -6.77% = -18.40% × 0.37
Mar 25, 2018 -7.10% = -20.15% × 0.35
Dec 24, 2017 -6.48% = -18.64% × 0.35
Sep 24, 2017 3.77% = 11.06% × 0.34
Jun 25, 2017 6.05% = 17.26% × 0.35
Mar 26, 2017 7.98% = 19.25% × 0.41
Dec 25, 2016 9.34% = 20.56% × 0.45
Sep 25, 2016 10.90% = 24.22% × 0.45
Jun 26, 2016 10.18% = 22.64% × 0.45
Mar 27, 2016 9.80% = 21.70% × 0.45
Dec 27, 2015 9.55% = 20.02% × 0.48
Sep 27, 2015 10.38% = 20.85% × 0.50
Jun 28, 2015 11.67% = 23.02% × 0.51
Mar 29, 2015 15.17% = 26.04% × 0.58
Dec 28, 2014 16.64% = 29.91% × 0.56
Sep 28, 2014 16.40% = 30.08% × 0.55
Jun 29, 2014 15.66% = 28.82% × 0.54
Mar 30, 2014 14.44% = 26.89% × 0.54
Dec 29, 2013 14.74% = 26.78% × 0.55
Sep 29, 2013 15.06% = 27.56% × 0.55
Jun 30, 2013 — = — × —
Mar 31, 2013 — = — × —
Dec 30, 2012 — = — × —

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2019 is the increase in asset turnover ratio.

Four-Component Disaggregation of ROA

Qualcomm Inc., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Jun 30, 2019 9.92% = 0.56 × 0.90 × 26.83% × 0.74
Mar 31, 2019 7.22% = 1.59 × 0.68 × 10.76% × 0.62
Dec 30, 2018 6.30% = 1.96 × 0.59 × 8.62% × 0.63
Sep 30, 2018 -14.88% = -9.48 × 0.40 × 5.64% × 0.70
Jun 24, 2018 -6.77% = -2.44 × 0.70 × 10.71% × 0.37
Mar 25, 2018 -7.10% = -2.80 × 0.72 × 10.04% × 0.35
Dec 24, 2017 -6.48% = -1.96 × 0.79 × 12.06% × 0.35
Sep 24, 2017 3.77% = 0.82 × 0.86 × 15.77% × 0.34
Jun 25, 2017 6.05% = 0.86 × 0.92 × 21.95% × 0.35
Mar 26, 2017 7.98% = 0.83 × 0.94 × 24.65% × 0.41
Dec 25, 2016 9.34% = 0.82 × 0.95 × 26.53% × 0.45
Sep 25, 2016 10.90% = 0.83 × 0.96 × 30.28% × 0.45
Jun 26, 2016 10.18% = 0.84 × 0.95 × 28.12% × 0.45
Mar 27, 2016 9.80% = 0.84 × 0.96 × 26.89% × 0.45
Dec 27, 2015 9.55% = 0.81 × 0.97 × 25.38% × 0.48
Sep 27, 2015 10.38% = 0.81 × 0.98 × 26.08% × 0.50
Jun 28, 2015 11.67% = 0.81 × 1.00 × 28.37% × 0.51
Mar 29, 2015 15.17% = 0.83 × 1.00 × 31.25% × 0.58
Dec 28, 2014 16.64% = 0.87 × 1.00 × 34.58% × 0.56
Sep 28, 2014 16.40% = 0.86 × 1.00 × 34.78% × 0.55
Jun 29, 2014 15.66% = 0.86 × 1.00 × 33.41% × 0.54
Mar 30, 2014 14.44% = 0.84 × 1.00 × 31.87% × 0.54
Dec 29, 2013 14.74% = 0.85 × 1.00 × 31.65% × 0.55
Sep 29, 2013 15.06% = 0.84 × 1.00 × 32.98% × 0.55
Jun 30, 2013 — = — × — × — × —
Mar 31, 2013 — = — × — × — × —
Dec 30, 2012 — = — × — × — × —

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2019 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Qualcomm Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Jun 30, 2019 13.41% = 0.56 × 0.90 × 26.83%
Mar 31, 2019 11.57% = 1.59 × 0.68 × 10.76%
Dec 30, 2018 10.03% = 1.96 × 0.59 × 8.62%
Sep 30, 2018 -21.40% = -9.48 × 0.40 × 5.64%
Jun 24, 2018 -18.40% = -2.44 × 0.70 × 10.71%
Mar 25, 2018 -20.15% = -2.80 × 0.72 × 10.04%
Dec 24, 2017 -18.64% = -1.96 × 0.79 × 12.06%
Sep 24, 2017 11.06% = 0.82 × 0.86 × 15.77%
Jun 25, 2017 17.26% = 0.86 × 0.92 × 21.95%
Mar 26, 2017 19.25% = 0.83 × 0.94 × 24.65%
Dec 25, 2016 20.56% = 0.82 × 0.95 × 26.53%
Sep 25, 2016 24.22% = 0.83 × 0.96 × 30.28%
Jun 26, 2016 22.64% = 0.84 × 0.95 × 28.12%
Mar 27, 2016 21.70% = 0.84 × 0.96 × 26.89%
Dec 27, 2015 20.02% = 0.81 × 0.97 × 25.38%
Sep 27, 2015 20.85% = 0.81 × 0.98 × 26.08%
Jun 28, 2015 23.02% = 0.81 × 1.00 × 28.37%
Mar 29, 2015 26.04% = 0.83 × 1.00 × 31.25%
Dec 28, 2014 29.91% = 0.87 × 1.00 × 34.58%
Sep 28, 2014 30.08% = 0.86 × 1.00 × 34.78%
Jun 29, 2014 28.82% = 0.86 × 1.00 × 33.41%
Mar 30, 2014 26.89% = 0.84 × 1.00 × 31.87%
Dec 29, 2013 26.78% = 0.85 × 1.00 × 31.65%
Sep 29, 2013 27.56% = 0.84 × 1.00 × 32.98%
Jun 30, 2013 — = — × — × —
Mar 31, 2013 — = — × — × —
Dec 30, 2012 — = — × — × —

Based on: 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-07), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-01), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-19), 10-Q (filing date: 2017-01-25), 10-K (filing date: 2016-11-02), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-20), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-11-04), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-11-05), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-29), 10-K (filing date: 2013-11-06), 10-Q (filing date: 2013-07-24), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-30).

The primary reason for the increase in net profit margin ratio over Q3 2019 is the increase in operating profitability measured by EBIT margin ratio.