DuPont Analysis: Decomposition of ROE 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
Boeing Co., decomposition of ROE (quarterly data)
| | | |||
ROE | = | ROA | × | Leverage | |
---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||
Sep 30, 2017 | % | % | |||
Jun 30, 2017 | % | % | |||
Mar 31, 2017 | % | % | |||
Dec 31, 2016 | % | % | |||
Sep 30, 2016 | % | % | |||
Jun 30, 2016 | % | % | |||
Mar 31, 2016 | % | % | |||
Dec 31, 2015 | % | % | |||
Sep 30, 2015 | % | % | |||
Jun 30, 2015 | % | % | |||
Mar 31, 2015 | % | % | |||
Dec 31, 2014 | % | % | |||
Sep 30, 2014 | % | % | |||
Jun 30, 2014 | % | % | |||
Mar 31, 2014 | % | % | |||
Dec 31, 2013 | % | % | |||
Sep 30, 2013 | % | % | |||
Jun 30, 2013 | % | % | |||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Return on Equity (ROE) over Q4 2017 is the increase in Financial Leverage.
Three-Component Disaggregation of ROE
Boeing Co., decomposition of ROE (quarterly data)
| | | | ||||
ROE | = | Net Profit Margin | × | Asset Turnover | × | Leverage | |
---|---|---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||||
Sep 30, 2017 | % | % | |||||
Jun 30, 2017 | % | % | |||||
Mar 31, 2017 | % | % | |||||
Dec 31, 2016 | % | % | |||||
Sep 30, 2016 | % | % | |||||
Jun 30, 2016 | % | % | |||||
Mar 31, 2016 | % | % | |||||
Dec 31, 2015 | % | % | |||||
Sep 30, 2015 | % | % | |||||
Jun 30, 2015 | % | % | |||||
Mar 31, 2015 | % | % | |||||
Dec 31, 2014 | % | % | |||||
Sep 30, 2014 | % | % | |||||
Jun 30, 2014 | % | % | |||||
Mar 31, 2014 | % | % | |||||
Dec 31, 2013 | % | % | |||||
Sep 30, 2013 | % | % | |||||
Jun 30, 2013 | % | % | |||||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Return on Equity (ROE) over Q4 2017 is the increase in Financial Leverage.
Five-Component Disaggregation of ROE
Boeing Co., decomposition of ROE (quarterly data)
| | | | | | ||||||
ROE | = | Tax Burden | × | Interest Burden | × | EBIT Margin | × | Asset Turnover | × | Leverage | |
---|---|---|---|---|---|---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||||||||
Sep 30, 2017 | % | % | |||||||||
Jun 30, 2017 | % | % | |||||||||
Mar 31, 2017 | % | % | |||||||||
Dec 31, 2016 | % | % | |||||||||
Sep 30, 2016 | % | % | |||||||||
Jun 30, 2016 | % | % | |||||||||
Mar 31, 2016 | % | % | |||||||||
Dec 31, 2015 | % | % | |||||||||
Sep 30, 2015 | % | % | |||||||||
Jun 30, 2015 | % | % | |||||||||
Mar 31, 2015 | % | % | |||||||||
Dec 31, 2014 | % | % | |||||||||
Sep 30, 2014 | % | % | |||||||||
Jun 30, 2014 | % | % | |||||||||
Mar 31, 2014 | % | % | |||||||||
Dec 31, 2013 | % | % | |||||||||
Sep 30, 2013 | % | % | |||||||||
Jun 30, 2013 | % | % | |||||||||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Return on Equity (ROE) over Q4 2017 is the increase in Financial Leverage.
Two-Way Decomposition of ROA
Boeing Co., decomposition of ROA (quarterly data)
| | | |||
ROA | = | Net Profit Margin | × | Asset Turnover | |
---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||
Sep 30, 2017 | % | % | |||
Jun 30, 2017 | % | % | |||
Mar 31, 2017 | % | % | |||
Dec 31, 2016 | % | % | |||
Sep 30, 2016 | % | % | |||
Jun 30, 2016 | % | % | |||
Mar 31, 2016 | % | % | |||
Dec 31, 2015 | % | % | |||
Sep 30, 2015 | % | % | |||
Jun 30, 2015 | % | % | |||
Mar 31, 2015 | % | % | |||
Dec 31, 2014 | % | % | |||
Sep 30, 2014 | % | % | |||
Jun 30, 2014 | % | % | |||
Mar 31, 2014 | % | % | |||
Dec 31, 2013 | % | % | |||
Sep 30, 2013 | % | % | |||
Jun 30, 2013 | % | % | |||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Return on Assets (ROA) over Q4 2017 is the increase in profitability measured by Net Profit Margin.
Four-Way Decomposition of ROA
Boeing Co., decomposition of ROA (quarterly data)
| | | | | |||||
ROA | = | Tax Burden | × | Interest Burden | × | EBIT Margin | × | Asset Turnover | |
---|---|---|---|---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||||||
Sep 30, 2017 | % | % | |||||||
Jun 30, 2017 | % | % | |||||||
Mar 31, 2017 | % | % | |||||||
Dec 31, 2016 | % | % | |||||||
Sep 30, 2016 | % | % | |||||||
Jun 30, 2016 | % | % | |||||||
Mar 31, 2016 | % | % | |||||||
Dec 31, 2015 | % | % | |||||||
Sep 30, 2015 | % | % | |||||||
Jun 30, 2015 | % | % | |||||||
Mar 31, 2015 | % | % | |||||||
Dec 31, 2014 | % | % | |||||||
Sep 30, 2014 | % | % | |||||||
Jun 30, 2014 | % | % | |||||||
Mar 31, 2014 | % | % | |||||||
Dec 31, 2013 | % | % | |||||||
Sep 30, 2013 | % | % | |||||||
Jun 30, 2013 | % | % | |||||||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Return on Assets (ROA) over Q4 2017 is the increase in effect of taxes measured by Tax Burden.
Decomposition of Net Profit Margin
Boeing Co., decomposition of Net Profit Margin (quarterly data)
| | | | ||||
Net Profit Margin | = | Tax Burden | × | Interest Burden | × | EBIT Margin | |
---|---|---|---|---|---|---|---|
Dec 31, 2017 | % | % | |||||
Sep 30, 2017 | % | % | |||||
Jun 30, 2017 | % | % | |||||
Mar 31, 2017 | % | % | |||||
Dec 31, 2016 | % | % | |||||
Sep 30, 2016 | % | % | |||||
Jun 30, 2016 | % | % | |||||
Mar 31, 2016 | % | % | |||||
Dec 31, 2015 | % | % | |||||
Sep 30, 2015 | % | % | |||||
Jun 30, 2015 | % | % | |||||
Mar 31, 2015 | % | % | |||||
Dec 31, 2014 | % | % | |||||
Sep 30, 2014 | % | % | |||||
Jun 30, 2014 | % | % | |||||
Mar 31, 2014 | % | % | |||||
Dec 31, 2013 | % | % | |||||
Sep 30, 2013 | % | % | |||||
Jun 30, 2013 | % | % | |||||
Mar 31, 2013 | % | % |
Source: Based on data from Boeing Co. Quarterly and Annual Reports
The primary reason for the increase in Net Profit Margin over Q4 2017 is the increase in effect of taxes measured by Tax Burden.