Return on Equity (ROE)
since 2005
Calculation
Altria Group Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net earnings (losses) attributable to Altria1 | ÷ | Stockholders’ equity (deficit) attributable to Altria1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | — | = | 100 | × | 8,130) | ÷ | (3,540) |
| Dec 31, 2022 | — | = | 100 | × | 5,764) | ÷ | (3,973) |
| Dec 31, 2021 | — | = | 100 | × | 2,475) | ÷ | (1,606) |
| Dec 31, 2020 | 157.34% | = | 100 | × | 4,467) | ÷ | 2,839) |
| Dec 31, 2019 | -20.78% | = | 100 | × | (1,293) | ÷ | 6,222) |
| Dec 31, 2018 | 47.09% | = | 100 | × | 6,963) | ÷ | 14,787) |
| Dec 31, 2017 | 66.48% | = | 100 | × | 10,222) | ÷ | 15,377) |
| Dec 31, 2016 | 111.50% | = | 100 | × | 14,239) | ÷ | 12,770) |
| Dec 31, 2015 | 181.98% | = | 100 | × | 5,241) | ÷ | 2,880) |
| Dec 31, 2014 | 168.21% | = | 100 | × | 5,070) | ÷ | 3,014) |
| Dec 31, 2013 | 110.10% | = | 100 | × | 4,535) | ÷ | 4,119) |
| Dec 31, 2012 | 131.94% | = | 100 | × | 4,180) | ÷ | 3,168) |
| Dec 31, 2011 | 92.12% | = | 100 | × | 3,390) | ÷ | 3,680) |
| Dec 31, 2010 | 75.21% | = | 100 | × | 3,905) | ÷ | 5,192) |
| Dec 31, 2009 | 78.79% | = | 100 | × | 3,206) | ÷ | 4,069) |
| Dec 31, 2008 | 174.33% | = | 100 | × | 4,930) | ÷ | 2,828) |
| Dec 31, 2007 | 52.74% | = | 100 | × | 9,786) | ÷ | 18,554) |
| Dec 31, 2006 | 30.34% | = | 100 | × | 12,022) | ÷ | 39,619) |
| Dec 31, 2005 | 29.22% | = | 100 | × | 10,435) | ÷ | 35,707) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial data reveals significant fluctuations in net earnings attributable to the company over the analyzed period. Initially, the net earnings demonstrated a strong upward trend, peaking in 2006 at 12,022 million US dollars. However, there was a marked decline in earnings from 2007 through 2009, reaching a low point of 3,206 million in 2009. This was followed by a period of recovery, with net earnings generally increasing through 2016 and peaking notably at 14,239 million in that year. A sharp decline occurred in 2019, where the company recorded a net loss of 1,293 million, yet earnings rebounded in subsequent years to 8,130 million by 2023.
Stockholders’ equity attributable to the company showed a generally volatile pattern with significant decreases and increases over the years. Starting from 35,707 million US dollars in 2005, equity dropped dramatically to a low of 2,828 million in 2008 before partially recovering in the following years. After reaching 15,377 million in 2017, there was a downward trend, reaching negative equity in 2021 (-1,606 million) and further declining slightly through 2023. Negative stockholders’ equity indicates that liabilities exceeded assets during these later years, which could be a sign of financial distress or significant restructuring.
Return on Equity (ROE) displayed pronounced volatility and extreme values during the period. ROE was exceptionally high in the late 2000s, with peaks such as 174.33% in 2008 and 181.98% in 2014, reflecting extremely high returns relative to equity, often influenced by the low or negative shareholder equity base. The ROE trend declined from 2015 onward and even turned negative in 2019 (-20.78%) corresponding to the net loss recorded. The recovered ROE in 2020 to 157.34% indicates a rebound in profitability relative to equity. However, ROE data is incomplete for the years after 2020, limiting trend analysis for recent periods.
Overall, the data depicts a company experiencing significant earnings volatility and financial restructuring, as evidenced by fluctuating equity levels and corresponding returns on equity. The presence of negative equity and losses in certain years highlights periods of financial challenge, while recoveries in net earnings and ROE point to resilience and capacity for profitability recovery. These patterns suggest that financial results are highly sensitive to underlying business conditions and capital structure changes throughout the observed timeframe.
Comparison to Competitors
Altria Group Inc., ROE, long-term trends, comparison to competitors
| Altria Group Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | — | 41.30% | 17.50% | 49.04% | — |
| Dec 31, 2022 | — | 39.59% | 10.11% | 51.96% | — |
| Dec 31, 2021 | — | 42.48% | 15.21% | 47.48% | — |
| Dec 31, 2020 | 157.34% | 40.14% | 12.89% | 52.92% | — |
| Dec 31, 2019 | -20.78% | 46.99% | 14.19% | 49.47% | — |
| Dec 31, 2018 | 47.09% | 37.89% | 13.19% | 86.20% | — |
| Dec 31, 2017 | 66.48% | 7.31% | 11.19% | 44.60% | — |
| Dec 31, 2016 | 111.50% | 28.30% | 6.59% | 57.04% | — |
| Dec 31, 2015 | 181.98% | 28.77% | 25.94% | 45.73% | — |
| Dec 31, 2014 | 168.21% | 23.41% | 7.87% | 37.35% | — |
| Dec 31, 2013 | 110.10% | 25.88% | 12.09% | 27.76% | — |
| Dec 31, 2012 | 131.94% | 27.51% | 9.40% | 27.71% | — |
| Dec 31, 2011 | 92.12% | 27.10% | 10.02% | 31.29% | 3,751.53% |
| Dec 31, 2010 | 75.21% | 38.09% | 11.48% | 29.86% | 207.05% |
| Dec 31, 2009 | 78.79% | 27.52% | 11.67% | 35.38% | 110.95% |
| Dec 31, 2008 | 174.33% | 28.37% | 13.07% | 42.47% | 91.87% |
| Dec 31, 2007 | 52.74% | 27.51% | 9.49% | 32.83% | — |
| Dec 31, 2006 | 30.34% | 30.02% | 10.72% | 36.71% | — |
| Dec 31, 2005 | 29.22% | 29.79% | 8.89% | 28.62% | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Altria Group Inc., ROE, long-term trends, comparison to sector (food, beverage & tobacco)
| Altria Group Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2023 | — | 52.90% |
| Dec 31, 2022 | — | 51.06% |
| Dec 31, 2021 | — | 53.84% |
| Dec 31, 2020 | 157.34% | 55.44% |
| Dec 31, 2019 | -20.78% | 55.17% |
| Dec 31, 2018 | 47.09% | 67.69% |
| Dec 31, 2017 | 66.48% | 35.87% |
| Dec 31, 2016 | 111.50% | 46.07% |
| Dec 31, 2015 | 181.98% | 51.57% |
| Dec 31, 2014 | 168.21% | 37.04% |
| Dec 31, 2013 | 110.10% | 33.90% |
| Dec 31, 2012 | 131.94% | 32.24% |
| Dec 31, 2011 | 92.12% | 30.95% |
| Dec 31, 2010 | 75.21% | 32.24% |
| Dec 31, 2009 | 78.79% | 30.24% |
| Dec 31, 2008 | 174.33% | 33.30% |
| Dec 31, 2007 | 52.74% | 21.47% |
| Dec 31, 2006 | 30.34% | 22.65% |
| Dec 31, 2005 | 29.22% | 19.24% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Altria Group Inc., ROE, long-term trends, comparison to industry (consumer staples)
| Altria Group Inc. | Consumer Staples | |
|---|---|---|
| Dec 31, 2023 | — | 30.71% |
| Dec 31, 2022 | — | 32.10% |
| Dec 31, 2021 | — | 31.40% |
| Dec 31, 2020 | 157.34% | 30.98% |
| Dec 31, 2019 | -20.78% | 22.71% |
| Dec 31, 2018 | 47.09% | 28.05% |
| Dec 31, 2017 | 66.48% | 25.14% |
| Dec 31, 2016 | 111.50% | 25.00% |
| Dec 31, 2015 | 181.98% | 23.15% |
| Dec 31, 2014 | 168.21% | 23.21% |
| Dec 31, 2013 | 110.10% | 24.09% |
| Dec 31, 2012 | 131.94% | 23.55% |
| Dec 31, 2011 | 92.12% | 23.75% |
| Dec 31, 2010 | 75.21% | 24.19% |
| Dec 31, 2009 | 78.79% | 23.20% |
| Dec 31, 2008 | 174.33% | 22.49% |
| Dec 31, 2007 | 52.74% | 18.15% |
| Dec 31, 2006 | 30.34% | 18.58% |
| Dec 31, 2005 | 29.22% | 22.40% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).