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Bristol-Myers Squibb Co. (NYSE:BMY)
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
Bristol-Myers Squibb Co., decomposition of ROE (quarterly data)
Based on: 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28).
The primary reason for the decrease in return on equity ratio (ROE) over Q4 2019 is the decrease in profitability measured by return on assets ratio (ROA).
Three-Component Disaggregation of ROE
Bristol-Myers Squibb Co., decomposition of ROE (quarterly data)
Based on: 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28).
The primary reason for the decrease in return on equity ratio (ROE) over Q4 2019 is the decrease in efficiency measured by asset turnover ratio.
Two-Component Disaggregation of ROA
Bristol-Myers Squibb Co., decomposition of ROA (quarterly data)
Based on: 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28).
The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in asset turnover ratio.