Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Profitability Ratios (Summary)
AmerisourceBergen Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
The financial margins show distinct patterns over the analyzed quarters. The gross profit margin has exhibited a steady increase over the period, rising from just under 3.0% at the end of 2017 to around 3.4% by mid-2023. This gradual upward trend suggests improving efficiency or pricing power in the core business operations.
Operating profit margin demonstrates more volatility across the quarters. Initially fluctuating around the 0.5% to 0.9% range until early 2020, there is a notable sharp decline into negative territory during 2020, with margins reaching as low as approximately -2.7%. Subsequently, the margin recovers to positive territory from late 2020 onwards but remains below the higher levels seen before. The negative margins in 2020 indicate a period of operational challenges, likely connected to extraordinary events impacting profitability.
The net profit margin follows a similar trajectory to the operating margin, maintaining modest positive margins around 0.5% to 1.0% during most quarters prior to 2020. It also records negative values in 2020, though the negative impact appears less severe than operating margin declines. After 2020, net profitability recovers to positive levels, stabilizing around 0.6% to 0.7%, which reflects some restoration of bottom-line profitability but not reaching pre-2020 peaks.
Return on equity (ROE) reveals significant volatility and extreme values during the period. Early years show robust returns, generally above 25% and peaking near 57% in mid-2018. However, data gaps and abrupt extreme values such as -9862% suggest the presence of extraordinary impairments or accounting adjustments affecting equity. Subsequent periods see recovery with ROE stabilizing in the hundreds of percent range, which may indicate residual distortions. The overall pattern indicates significant fluctuations in equity returns, influenced by substantial one-time events or structural changes.
Return on assets (ROA) parallels the overall margin trends with a steady increase from around 2.7% at the beginning to mid-2019 levels. Like operating margin, ROA plunges into negative territory in 2020, reaching nearly -8%, signaling a pronounced decline in asset profitability during that period. Afterwards, ROA rebounds, stabilizing near 2.7% to 3.2%, reflecting a return to consistent asset utilization generating positive returns.
- Gross Profit Margin
- Steady upward trend from ~3.0% to ~3.4%, indicating improving profitability at the gross level.
- Operating Profit Margin
- Fluctuated generally between 0.5% and 0.9% pre-2020; severe decline into negative margins in 2020; partial recovery post-2020 but not to previous highs.
- Net Profit Margin
- Modest positive margins before 2020, negative margins during 2020, subsequent recovery but remaining below prior levels.
- Return on Equity (ROE)
- High volatility with extreme negative and positive outliers in 2020; otherwise mostly robust returns though affected by unusual valuation or accounting events.
- Return on Assets (ROA)
- Generally steady growth until 2020; sharp drop to negative values in 2020; recovery and stabilization to around 3% thereafter.
In summary, the financial ratios display resilience in underlying profitability as seen in the gross margin improvements. However, operating and net margins, as well as returns on assets and equity, were heavily impacted during 2020 by extraordinary adverse conditions, followed by gradual but incomplete recovery. The volatility in ROE warrants cautious interpretation due to the presence of significant one-time effects or adjustments affecting equity values.
Return on Sales
Return on Investment
Gross Profit Margin
AmerisourceBergen Corp., gross profit margin calculation (quarterly data)
| Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Gross profit | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q3 2023 Calculation
Gross profit margin = 100
× (Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023
+ Gross profitQ4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Revenue Trend
- Revenue exhibited an overall upward trajectory during the period under review. Starting at approximately $40.5 billion at the end of 2017, it increased steadily to nearly $66.9 billion by mid-2023. While there were fluctuations, notably a decrease in early 2019 and during parts of 2022, the long-term pattern reflects growth in sales volumes or pricing.
- Gross Profit Trend
- Gross profit demonstrated variability but generally increased alongside revenue growth. From about $1.11 billion at the close of 2017, gross profit peaked beyond $2.2 billion by the end of 2021 and remained near that level through mid-2023. This suggests sustained improvements in profit generation capacity before consideration of other expenses.
- Gross Profit Margin Trend
- The gross profit margin showed a gradual improvement over the time frame. Initially around 2.9% at the end of 2017, the margin decreased slightly through 2019, reaching a low near 2.7%. From 2020 onwards, there was a steady rise, with margins increasing to about 3.4% by mid-2023. This upward shift indicates enhanced efficiency or favorable cost structures supporting profitability at the gross level.
- Relationship Between Revenue and Gross Profit
- While revenue increased steadily with some short-term declines, gross profit largely mirrored this trend but with higher relative growth in later periods, contributing to margin expansion. Periods of revenue slowdown did not correspond to proportional declines in gross profit, signifying operational stability or improved product mix.
- Seasonal and Short-Term Variations
- Some fluctuations are evident within quarterly data points, with gross profit and revenue showing minor dips and recoveries that may relate to seasonal factors or market conditions. However, these variations did not disrupt the overall positive trends observed.
- Summary
- The analyzed financial metrics indicate a robust growth profile with improving gross profitability over the multi-year period. The increase in revenue supported higher gross profits, while the gross profit margin trend signals enhanced cost management or pricing power. These trends collectively suggest strengthening operational performance at the gross profit level.
Operating Profit Margin
AmerisourceBergen Corp., operating profit margin calculation (quarterly data)
| Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Operating income (loss) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q3 2023 Calculation
Operating profit margin = 100
× (Operating income (loss)Q3 2023
+ Operating income (loss)Q2 2023
+ Operating income (loss)Q1 2023
+ Operating income (loss)Q4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Revenue Trend
- Revenue demonstrated a generally upward trajectory from the end of 2017 through mid-2023. Starting at approximately 40.5 billion USD in December 2017, revenue increased steadily with some fluctuations, reaching over 66.9 billion USD by June 2023. Notable jumps occurred in quarters ending December 2020 and subsequent periods, highlighting periods of accelerated growth.
- Operating Income (Loss) Analysis
- Operating income exhibited significant volatility over the analyzed period. Early years showed relatively stable positive operating income with periodic fluctuations, for example, roughly 479 million USD at the end of 2018. A critical observation is the marked operating loss recorded in the third quarter of 2020, with an exceptional operating loss exceeding 6 billion USD, contrasting sharply with all other quarters. Post this event, operating income recovered substantially, returning to positive territory and reaching highs over 780 million USD by the first half of 2022. However, some variability persisted towards the last quarters.
- Operating Profit Margin Insights
- The operating profit margin was generally positive but low relative to total revenue, mostly fluctuating between 0.5% and 0.9% in the periods before 2020. The third quarter of 2020 showed a dramatic decline, with margins turning significantly negative (approximately -2.7%), consistent with the large operating loss observed for the same period. Following this downturn, margins gradually improved, returning to a more normal range slightly above 1% in 2021 and stabilizing near 0.9% in the subsequent periods. Despite recovery, margins remained relatively modest, indicating tight operational profitability.
- Summary of Key Patterns and Insights
- The data reveals steady revenue growth accompanied by significant fluctuations in operating income and margins, heavily impacted in late 2020 by an extraordinary loss event. The recovery following this loss suggests resilience in the operating structure, though profitability margins remain low. The patterns imply operational challenges amid overall growth, highlighting the need to monitor cost controls and margin improvements to sustain financial health.
Net Profit Margin
AmerisourceBergen Corp., net profit margin calculation (quarterly data)
| Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to AmerisourceBergen Corporation | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q3 2023 Calculation
Net profit margin = 100
× (Net income (loss) attributable to AmerisourceBergen CorporationQ3 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ2 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ1 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ4 2022)
÷ (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Trends
- The net income attributable to the company shows considerable volatility across the observed quarters. Initially, net income figures fluctuate moderately, with values generally maintaining a positive range through 2017 and 2018. However, a substantial negative spike is observed in the third quarter of 2020, where net income plunged dramatically to a significant loss. Subsequent quarters indicate a recovery trend, with net income reverting to positive values and exhibiting moderate growth through 2021 to mid-2023. This recovery suggests successful mitigation of extraordinary impairments or losses recognized in 2020.
- Revenue Patterns
- Revenue generally demonstrates an upward trajectory over the timeframe, starting near $40.5 billion at the end of 2017 and increasing to approximately $67 billion by mid-2023. Despite some fluctuations, the overall pattern is one of consistent growth, indicating expanding business operations or increased sales volume. Periods within 2020 and early 2021 reveal some variability that may align with external economic factors, but revenue quickly resumed its growth thereafter.
- Net Profit Margin Analysis
- The net profit margin exhibits a relatively narrow range of values, generally between 0.35% and 1%, except for the notable dip during 2020. During this period, margins turn negative, reaching as low as -1.91%, which aligns with the net income loss observed. This negative margin phase suggests that costs or extraordinary charges significantly outweighed revenues during this quarter. Post-2020, the margin returns to positive territory around 0.7%, maintaining a stable but modest profitability level, consistent with the pattern of recovering net income.
- Correlation Between Metrics
- The negative net income and margin recorded in 2020 coincide with continued revenue growth, implying that increased costs or one-time expenses adversely affected profitability despite rising sales. The recovery in earnings and margins following this period, alongside steady revenue increases, reflects enhanced operational efficiency or resolution of non-recurring financial adversities.
- Summary of Financial Health
- Overall, the financial data reflects a company experiencing revenue expansion with generally modest profit margins. The significant loss event in 2020 introduces volatility in profitability metrics but appears to be an isolated incident with subsequent recovery. The trends indicate resilience and an ability to regain profitability while maintaining growth in revenue over the longer term.
Return on Equity (ROE)
AmerisourceBergen Corp., ROE calculation (quarterly data)
| Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to AmerisourceBergen Corporation | ||||||||||||||||||||||||||||||
| Total AmerisourceBergen Corporation stockholders’ equity (deficit) | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q3 2023 Calculation
ROE = 100
× (Net income (loss) attributable to AmerisourceBergen CorporationQ3 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ2 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ1 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ4 2022)
÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to AmerisourceBergen Corporation
- The net income exhibits considerable volatility across the observed periods. Initially, there is a peak of approximately $861.9 million at the end of 2017, followed by a general downward trend into early 2019, with figures fluctuating between roughly $27 million and $393 million. From March 2020 onward, the net income sharply swings, most notably a significant loss near $4.85 billion in September 2020, indicating an extraordinary event impacting profitability. After this loss, net income recovers substantially, maintaining a relatively stable positive trajectory through 2021 and into 2023, with values generally ranging between $292 million and $548 million, signaling recovery and stabilization.
- Total Stockholders’ Equity (Deficit)
- Stockholders’ equity displays a general increase from approximately $2.87 billion at the end of 2017 to a peak of about $3.86 billion by mid-2020. However, coinciding with the large net loss in September 2020, there is a drastic decline into a deficit position around -$1.02 billion. This deficit persists, with equity remaining negative through early 2022. Subsequent quarters show a recovery trajectory, returning to positive equity by late 2022 and further improvement through mid-2023, reaching close to $686 million. Overall, equity trends suggest a period of financial distress mid-cycle, followed by a gradual restoration of shareholders’ funds.
- Return on Equity (ROE)
- ROE presents strong variability, initially robust between approximately 21.98% and 56.55% during 2017 to 2019, indicating high profitability relative to equity. In the period encompassing late 2020 and early 2021, data is missing; however, subsequent available values show extreme figures, including negative and very high positive percentages exceeding 600%, reflecting the volatility in net income and equity. The exceedingly high ROE percentages correspond to periods of very low or negative equity, causing the ratio to be artificially inflated or distorted. Excluding these anomalies, the ROE generally aligns with trends in net income and equity fluctuations, underscoring the unstable profitability and capital base during the period.
- Summary
- The financial data reveals a pattern of initial stability and profitability through 2017 to early 2020, interrupted by a severe loss and corresponding equity deficit in late 2020. The significant impairment event likely led to the large net loss and negative equity experienced during that period. Following this, the company demonstrates recovery in income and equity, returning to positive levels and relatively consistent profitability as reflected in sustained ROE figures by mid-2023. The volatility in ROE during the deficit period highlights sensitivity to equity fluctuations. Overall, the data portrays a cycle of strong performance, substantial financial distress, and subsequent recovery.
Return on Assets (ROA)
AmerisourceBergen Corp., ROA calculation (quarterly data)
| Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to AmerisourceBergen Corporation | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q3 2023 Calculation
ROA = 100
× (Net income (loss) attributable to AmerisourceBergen CorporationQ3 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ2 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ1 2023
+ Net income (loss) attributable to AmerisourceBergen CorporationQ4 2022)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data indicates variable performance in net income and return on assets (ROA) over the analyzed quarters, with total assets generally exhibiting a growth trend.
- Net Income
- The net income attributable shows significant fluctuations throughout the periods. Initially, the net income is strong, with a peak notably high in the early 2020 first quarter. However, there is a drastic negative swing in the third quarter of 2020, marking a substantial loss. Following this loss, net income recovers in subsequent quarters, stabilizing but without reaching the earlier peak levels consistently. The data suggests episodic volatility, likely due to extraordinary items or operational challenges impacting profitability during certain quarters.
- Total Assets
- Total assets present a steady upward trajectory across all quarters, growing from approximately 36 billion US dollars at the end of 2017 to over 61 billion US dollars by mid-2023. This consistent increase in asset base reflects possible investments, acquisitions, or organic growth, which may provide a foundation for enhanced operational capacity and future earnings potential.
- Return on Assets (ROA)
- ROA percentages indicate profitability relative to assets and exhibit notable variability. In the early quarters, ROA ranges between approximately 1.6% and 4.4%, with a pronounced decline during 2020, mirroring the net income loss observed in that period. ROA turns negative in mid to late 2020 quarters, reflecting inefficiencies or losses. Subsequently, ROA recovers and stabilizes around 2.7% to 3.2% in 2021 through 2023, which aligns with the stabilization in net income and increased asset base.
Overall, the data reveals a period of financial stress in 2020 with significant net income losses and negative ROA. Despite this, the company demonstrates resilience, with recovery in profitability ratios and a consistent increase in total assets through to mid-2023. This pattern may imply a response to external shocks or internal restructuring followed by renewed operational strength.