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

Accenture PLC (NYSE:ACN)

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

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Nov 30, 2020 29.33% = 13.72% × 2.14
Aug 31, 2020 30.05% = 13.78% × 2.18
May 31, 2020 30.91% = 14.12% × 2.19
Feb 29, 2020 32.13% = 14.84% × 2.17
Nov 30, 2019 32.05% = 14.66% × 2.19
Aug 31, 2019 33.17% = 16.04% × 2.07
May 31, 2019 34.05% = 16.62% × 2.05
Feb 28, 2019 33.53% = 16.33% × 2.05
Nov 30, 2018 33.21% = 15.77% × 2.11
Aug 31, 2018 39.17% = 16.61% × 2.36
May 31, 2018 40.45% = 17.04% × 2.37
Feb 28, 2018 37.07% = 15.52% × 2.39
Nov 30, 2017 39.16% = 15.51% × 2.52
Aug 31, 2017 38.50% = 15.18% × 2.54
May 31, 2017 43.86% = 16.95% × 2.59
Feb 28, 2017 47.84% = 18.97% × 2.52
Nov 30, 2016 57.94% = 21.02% × 2.76
Aug 31, 2016 54.42% = 19.95% × 2.73
May 31, 2016 53.04% = 19.70% × 2.69
Feb 29, 2016 53.98% = 20.26% × 2.66
Nov 30, 2015 51.54% = 16.90% × 3.05
Aug 31, 2015 49.78% = 16.72% × 2.98
May 31, 2015 — = — × 2.93
Feb 28, 2015 — = — × 2.84
Nov 30, 2014 — = — × 3.22

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2021 is the decrease in financial leverage ratio.

Three-Component Disaggregation of ROE

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Nov 30, 2020 29.33% = 11.74% × 1.17 × 2.14
Aug 31, 2020 30.05% = 11.52% × 1.20 × 2.18
May 31, 2020 30.91% = 11.11% × 1.27 × 2.19
Feb 29, 2020 32.13% = 11.13% × 1.33 × 2.17
Nov 30, 2019 32.05% = 11.06% × 1.33 × 2.19
Aug 31, 2019 33.17% = 11.06% × 1.45 × 2.07
May 31, 2019 34.05% = 10.93% × 1.52 × 2.05
Feb 28, 2019 33.53% = 10.51% × 1.55 × 2.05
Nov 30, 2018 33.21% = 9.99% × 1.58 × 2.11
Aug 31, 2018 39.17% = 9.76% × 1.70 × 2.36
May 31, 2018 40.45% = 9.76% × 1.75 × 2.37
Feb 28, 2018 37.07% = 9.18% × 1.69 × 2.39
Nov 30, 2017 39.16% = 9.43% × 1.65 × 2.52
Aug 31, 2017 38.50% = 9.37% × 1.62 × 2.54
May 31, 2017 43.86% = 9.92% × 1.71 × 2.59
Feb 28, 2017 47.84% = 10.67% × 1.78 × 2.52
Nov 30, 2016 57.94% = 12.16% × 1.73 × 2.76
Aug 31, 2016 54.42% = 11.82% × 1.69 × 2.73
May 31, 2016 53.04% = 11.05% × 1.78 × 2.69
Feb 29, 2016 53.98% = 10.97% × 1.85 × 2.66
Nov 30, 2015 51.54% = 9.20% × 1.84 × 3.05
Aug 31, 2015 49.78% = 9.28% × 1.80 × 2.98
May 31, 2015 — = — × — × 2.93
Feb 28, 2015 — = — × — × 2.84
Nov 30, 2014 — = — × — × 3.22

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2021 is the decrease in efficiency measured by asset turnover ratio.

Five-Component Disaggregation of ROE

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Nov 30, 2020 29.33% = 0.76 × 0.99 × 15.46% × 1.17 × 2.14
Aug 31, 2020 30.05% = 0.76 × 1.00 × 15.18% × 1.20 × 2.18
May 31, 2020 30.91% = 0.76 × 1.00 × 14.60% × 1.27 × 2.19
Feb 29, 2020 32.13% = 0.76 × 1.00 × 14.63% × 1.33 × 2.17
Nov 30, 2019 32.05% = 0.76 × 1.00 × 14.55% × 1.33 × 2.19
Aug 31, 2019 33.17% = 0.77 × 1.00 × 14.36% × 1.45 × 2.07
May 31, 2019 34.05% = 0.77 × 1.00 × 14.25% × 1.52 × 2.05
Feb 28, 2019 33.53% = 0.75 × 1.00 × 14.13% × 1.55 × 2.05
Nov 30, 2018 33.21% = 0.72 × 1.00 × 13.85% × 1.58 × 2.11
Aug 31, 2018 39.17% = 0.72 × 1.00 × 13.64% × 1.70 × 2.36
May 31, 2018 40.45% = 0.73 × 1.00 × 13.49% × 1.75 × 2.37
Feb 28, 2018 37.07% = 0.76 × 1.00 × 12.05% × 1.69 × 2.39
Nov 30, 2017 39.16% = 0.78 × 1.00 × 12.16% × 1.65 × 2.52
Aug 31, 2017 38.50% = 0.78 × 1.00 × 12.08% × 1.62 × 2.54
May 31, 2017 43.86% = 0.78 × 1.00 × 12.74% × 1.71 × 2.59
Feb 28, 2017 47.84% = 0.76 × 1.00 × 14.00% × 1.78 × 2.52
Nov 30, 2016 57.94% = 0.79 × 1.00 × 15.50% × 1.73 × 2.76
Aug 31, 2016 54.42% = 0.77 × 1.00 × 15.47% × 1.69 × 2.73
May 31, 2016 53.04% = 0.76 × 1.00 × 14.67% × 1.78 × 2.69
Feb 29, 2016 53.98% = 0.76 × 1.00 × 14.48% × 1.85 × 2.66
Nov 30, 2015 51.54% = 0.72 × 1.00 × 12.87% × 1.84 × 3.05
Aug 31, 2015 49.78% = 0.73 × 1.00 × 12.78% × 1.80 × 2.98
May 31, 2015 — = — × — × — × — × 2.93
Feb 28, 2015 — = — × — × — × — × 2.84
Nov 30, 2014 — = — × — × — × — × 3.22

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2021 is the decrease in efficiency measured by asset turnover ratio.

Two-Component Disaggregation of ROA

Accenture PLC, decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Nov 30, 2020 13.72% = 11.74% × 1.17
Aug 31, 2020 13.78% = 11.52% × 1.20
May 31, 2020 14.12% = 11.11% × 1.27
Feb 29, 2020 14.84% = 11.13% × 1.33
Nov 30, 2019 14.66% = 11.06% × 1.33
Aug 31, 2019 16.04% = 11.06% × 1.45
May 31, 2019 16.62% = 10.93% × 1.52
Feb 28, 2019 16.33% = 10.51% × 1.55
Nov 30, 2018 15.77% = 9.99% × 1.58
Aug 31, 2018 16.61% = 9.76% × 1.70
May 31, 2018 17.04% = 9.76% × 1.75
Feb 28, 2018 15.52% = 9.18% × 1.69
Nov 30, 2017 15.51% = 9.43% × 1.65
Aug 31, 2017 15.18% = 9.37% × 1.62
May 31, 2017 16.95% = 9.92% × 1.71
Feb 28, 2017 18.97% = 10.67% × 1.78
Nov 30, 2016 21.02% = 12.16% × 1.73
Aug 31, 2016 19.95% = 11.82% × 1.69
May 31, 2016 19.70% = 11.05% × 1.78
Feb 29, 2016 20.26% = 10.97% × 1.85
Nov 30, 2015 16.90% = 9.20% × 1.84
Aug 31, 2015 16.72% = 9.28% × 1.80
May 31, 2015 — = — × —
Feb 28, 2015 — = — × —
Nov 30, 2014 — = — × —

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2021 is the decrease in asset turnover ratio.

Four-Component Disaggregation of ROA

Accenture PLC, decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Nov 30, 2020 13.72% = 0.76 × 0.99 × 15.46% × 1.17
Aug 31, 2020 13.78% = 0.76 × 1.00 × 15.18% × 1.20
May 31, 2020 14.12% = 0.76 × 1.00 × 14.60% × 1.27
Feb 29, 2020 14.84% = 0.76 × 1.00 × 14.63% × 1.33
Nov 30, 2019 14.66% = 0.76 × 1.00 × 14.55% × 1.33
Aug 31, 2019 16.04% = 0.77 × 1.00 × 14.36% × 1.45
May 31, 2019 16.62% = 0.77 × 1.00 × 14.25% × 1.52
Feb 28, 2019 16.33% = 0.75 × 1.00 × 14.13% × 1.55
Nov 30, 2018 15.77% = 0.72 × 1.00 × 13.85% × 1.58
Aug 31, 2018 16.61% = 0.72 × 1.00 × 13.64% × 1.70
May 31, 2018 17.04% = 0.73 × 1.00 × 13.49% × 1.75
Feb 28, 2018 15.52% = 0.76 × 1.00 × 12.05% × 1.69
Nov 30, 2017 15.51% = 0.78 × 1.00 × 12.16% × 1.65
Aug 31, 2017 15.18% = 0.78 × 1.00 × 12.08% × 1.62
May 31, 2017 16.95% = 0.78 × 1.00 × 12.74% × 1.71
Feb 28, 2017 18.97% = 0.76 × 1.00 × 14.00% × 1.78
Nov 30, 2016 21.02% = 0.79 × 1.00 × 15.50% × 1.73
Aug 31, 2016 19.95% = 0.77 × 1.00 × 15.47% × 1.69
May 31, 2016 19.70% = 0.76 × 1.00 × 14.67% × 1.78
Feb 29, 2016 20.26% = 0.76 × 1.00 × 14.48% × 1.85
Nov 30, 2015 16.90% = 0.72 × 1.00 × 12.87% × 1.84
Aug 31, 2015 16.72% = 0.73 × 1.00 × 12.78% × 1.80
May 31, 2015 — = — × — × — × —
Feb 28, 2015 — = — × — × — × —
Nov 30, 2014 — = — × — × — × —

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2021 is the decrease in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

Accenture PLC, decomposition of net profit margin ratio (quarterly data)

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Nov 30, 2020 11.74% = 0.76 × 0.99 × 15.46%
Aug 31, 2020 11.52% = 0.76 × 1.00 × 15.18%
May 31, 2020 11.11% = 0.76 × 1.00 × 14.60%
Feb 29, 2020 11.13% = 0.76 × 1.00 × 14.63%
Nov 30, 2019 11.06% = 0.76 × 1.00 × 14.55%
Aug 31, 2019 11.06% = 0.77 × 1.00 × 14.36%
May 31, 2019 10.93% = 0.77 × 1.00 × 14.25%
Feb 28, 2019 10.51% = 0.75 × 1.00 × 14.13%
Nov 30, 2018 9.99% = 0.72 × 1.00 × 13.85%
Aug 31, 2018 9.76% = 0.72 × 1.00 × 13.64%
May 31, 2018 9.76% = 0.73 × 1.00 × 13.49%
Feb 28, 2018 9.18% = 0.76 × 1.00 × 12.05%
Nov 30, 2017 9.43% = 0.78 × 1.00 × 12.16%
Aug 31, 2017 9.37% = 0.78 × 1.00 × 12.08%
May 31, 2017 9.92% = 0.78 × 1.00 × 12.74%
Feb 28, 2017 10.67% = 0.76 × 1.00 × 14.00%
Nov 30, 2016 12.16% = 0.79 × 1.00 × 15.50%
Aug 31, 2016 11.82% = 0.77 × 1.00 × 15.47%
May 31, 2016 11.05% = 0.76 × 1.00 × 14.67%
Feb 29, 2016 10.97% = 0.76 × 1.00 × 14.48%
Nov 30, 2015 9.20% = 0.72 × 1.00 × 12.87%
Aug 31, 2015 9.28% = 0.73 × 1.00 × 12.78%
May 31, 2015 — = — × — × —
Feb 28, 2015 — = — × — × —
Nov 30, 2014 — = — × — × —

Based on: 10-Q (filing date: 2020-12-17), 10-K (filing date: 2020-10-22), 10-Q (filing date: 2020-06-25), 10-Q (filing date: 2020-03-19), 10-Q (filing date: 2019-12-19), 10-K (filing date: 2019-10-29), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-03-28), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-24), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-22), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-22), 10-Q (filing date: 2017-03-23), 10-Q (filing date: 2016-12-21), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-06-23), 10-Q (filing date: 2016-03-24), 10-Q (filing date: 2015-12-17), 10-K (filing date: 2015-10-30), 10-Q (filing date: 2015-06-25), 10-Q (filing date: 2015-03-26), 10-Q (filing date: 2014-12-18).

The primary reason for the increase in net profit margin ratio over Q1 2021 is the increase in operating profitability measured by EBIT margin ratio.