## Adjusted Ratios

Difficulty: Advanced

### Adjusted Ratios (Summary)

**Altria Group Inc., adjusted ratios**

Ratio | Description | The company |
---|---|---|

Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. | Altria Group Inc.'s adjusted total asset turnover deteriorated from 2015 to 2016 but then slightly improved from 2016 to 2017. |

Adjusted current ratio |
A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Altria Group Inc.'s adjusted current ratio improved from 2015 to 2016 but then deteriorated significantly from 2016 to 2017. |

Adjusted debt-to-equity ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Altria Group Inc.'s adjusted debt-to-equity ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017. |

Adjusted debt-to-capital ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Altria Group Inc.'s adjusted debt-to-capital ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017. |

Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Altria Group Inc.'s adjusted financial leverage declined from 2015 to 2016 and from 2016 to 2017. |

Adjusted net profit margin |
An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Altria Group Inc.'s adjusted net profit margin improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level. |

Adjusted ROE |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Altria Group Inc.'s adjusted ROE improved from 2015 to 2016 but then deteriorated significantly from 2016 to 2017. |

Adjusted ROA |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Altria Group Inc.'s adjusted ROA improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level. |

### Adjusted Total Asset Turnover

*2017 Calculations*

^{1} Total asset turnover = Net revenues ÷ Total assets

= 25,576 ÷ 43,202 = 0.59

^{2} Adjusted total assets. See Details »

^{3} Adjusted total asset turnover = Net revenues ÷ Adjusted total assets

= 25,576 ÷ 44,064 = 0.58

Ratio | Description | The company |
---|---|---|

Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. | Altria Group Inc.'s adjusted total asset turnover deteriorated from 2015 to 2016 but then slightly improved from 2016 to 2017. |

### Adjusted Current Ratio

*2017 Calculations*

^{1} Current ratio = Current assets ÷ Current liabilities

= 4,344 ÷ 6,792 = 0.64

^{2} Adjusted current assets. See Details »

^{3} Adjusted current ratio = Adjusted current assets ÷ Current liabilities

= 5,044 ÷ 6,792 = 0.74

Ratio | Description | The company |
---|---|---|

Adjusted current ratio |
A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Altria Group Inc.'s adjusted current ratio improved from 2015 to 2016 but then deteriorated significantly from 2016 to 2017. |

### Adjusted Debt to Equity

*2017 Calculations*

^{1} Debt to equity = Total debt ÷ Stockholders’ equity attributable to Altria Group, Inc.

= 13,894 ÷ 15,377 = 0.90

^{2} Adjusted total debt. See Details »

^{3} Adjusted total stockholders’ equity. See Details »

^{4} Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity

= 14,056 ÷ 21,163 = 0.66

Ratio | Description | The company |
---|---|---|

Adjusted debt-to-equity ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Altria Group Inc.'s adjusted debt-to-equity ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017. |

### Adjusted Debt to Capital

*2017 Calculations*

^{1} Debt to capital = Total debt ÷ Total capital

= 13,894 ÷ 29,271 = 0.47

^{2} Adjusted total debt. See Details »

^{3} Adjusted total capital. See Details »

^{4} Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital

= 14,056 ÷ 35,219 = 0.40

Ratio | Description | The company |
---|---|---|

Adjusted debt-to-capital ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Altria Group Inc.'s adjusted debt-to-capital ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017. |

### Adjusted Financial Leverage

*2017 Calculations*

^{1} Financial leverage = Total assets ÷ Stockholders’ equity attributable to Altria Group, Inc.

= 43,202 ÷ 15,377 = 2.81

^{2} Adjusted total assets. See Details »

^{3} Adjusted total stockholders’ equity. See Details »

^{4} Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity

= 44,064 ÷ 21,163 = 2.08

Ratio | Description | The company |
---|---|---|

Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Altria Group Inc.'s adjusted financial leverage declined from 2015 to 2016 and from 2016 to 2017. |

### Adjusted Net Profit Margin

*2017 Calculations*

^{1} Net profit margin = 100 × Net earnings attributable to Altria Group, Inc. ÷ Net revenues

= 100 × 10,222 ÷ 25,576 = 39.97%

^{2} Adjusted comprehensive earnings. See Details »

^{3} Adjusted net profit margin = 100 × Adjusted comprehensive earnings ÷ Net revenues

= 100 × 7,211 ÷ 25,576 = 28.19%

Ratio | Description | The company |
---|---|---|

Adjusted net profit margin |
An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Altria Group Inc.'s adjusted net profit margin improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level. |

### Adjusted Return on Equity (ROE)

*2017 Calculations*

^{1} ROE = 100 × Net earnings attributable to Altria Group, Inc. ÷ Stockholders’ equity attributable to Altria Group, Inc.

= 100 × 10,222 ÷ 15,377 = 66.48%

^{2} Adjusted comprehensive earnings. See Details »

^{3} Adjusted total stockholders’ equity. See Details »

^{4} Adjusted ROE = 100 × Adjusted comprehensive earnings ÷ Adjusted total stockholders’ equity

= 100 × 7,211 ÷ 21,163 = 34.07%

Ratio | Description | The company |
---|---|---|

Adjusted ROE |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Altria Group Inc.'s adjusted ROE improved from 2015 to 2016 but then deteriorated significantly from 2016 to 2017. |

### Adjusted Return on Assets (ROA)

*2017 Calculations*

^{1} ROA = 100 × Net earnings attributable to Altria Group, Inc. ÷ Total assets

= 100 × 10,222 ÷ 43,202 = 23.66%

^{2} Adjusted comprehensive earnings. See Details »

^{3} Adjusted total assets. See Details »

^{4} Adjusted ROA = 100 × Adjusted comprehensive earnings ÷ Adjusted total assets

= 100 × 7,211 ÷ 44,064 = 16.36%

Ratio | Description | The company |
---|---|---|

Adjusted ROA |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Altria Group Inc.'s adjusted ROA improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level. |