Stock Analysis on Net
Stock Analysis on Net

DuPont de Nemours Inc. (NYSE:DD)

This company has been moved to the archive! The financial data has not been updated since February 14, 2020.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

DuPont de Nemours Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Dec 31, 2019 1.22% = 0.72% × 1.69
Sep 30, 2019 1.93% = 1.14% × 1.70
Jun 30, 2019 2.19% = 1.30% × 1.69
Mar 31, 2019 3.53% = 1.72% × 2.05
Dec 31, 2018 4.06% = 2.04% × 1.99
Sep 30, 2018 2.15% = 1.14% × 1.88
Jun 30, 2018 2.16% = 1.13% × 1.91
Mar 31, 2018 1.66% = 0.87% × 1.90
Dec 31, 2017 1.46% = 0.76% × 1.92
Sep 30, 2017 2.70% = 1.40% × 1.93
Jun 30, 2017 10.78% = 3.73% × 2.89
Mar 31, 2017 18.30% = 6.13% × 2.99
Dec 31, 2016 16.62% = 5.43% × 3.06
Sep 30, 2016 27.13% = 9.77% × 2.78
Jun 30, 2016 29.20% = 10.36% × 2.82
Mar 31, 2016 25.24% = 9.44% × 2.67
Dec 31, 2015 30.29% = 11.30% × 2.68
Sep 30, 2015 — = — × 2.87
Jun 30, 2015 — = — × 2.94
Mar 31, 2015 — = — × 3.05

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

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

DuPont de Nemours Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 31, 2019 1.22% = 2.31% × 0.31 × 1.69
Sep 30, 2019 1.93% = 1.57% × 0.72 × 1.70
Jun 30, 2019 2.19% = 1.41% × 0.92 × 1.69
Mar 31, 2019 3.53% = 3.88% × 0.44 × 2.05
Dec 31, 2018 4.06% = 4.47% × 0.46 × 1.99
Sep 30, 2018 2.15% = 2.45% × 0.47 × 1.88
Jun 30, 2018 2.16% = 2.62% × 0.43 × 1.91
Mar 31, 2018 1.66% = 2.37% × 0.37 × 1.90
Dec 31, 2017 1.46% = 2.34% × 0.33 × 1.92
Sep 30, 2017 2.70% = 5.01% × 0.28 × 1.93
Jun 30, 2017 10.78% = 5.83% × 0.64 × 2.89
Mar 31, 2017 18.30% = 9.77% × 0.63 × 2.99
Dec 31, 2016 16.62% = 8.97% × 0.61 × 3.06
Sep 30, 2016 27.13% = 16.91% × 0.58 × 2.78
Jun 30, 2016 29.20% = 18.31% × 0.57 × 2.82
Mar 31, 2016 25.24% = 13.71% × 0.69 × 2.67
Dec 31, 2015 30.29% = 15.76% × 0.72 × 2.68
Sep 30, 2015 — = — × — × 2.87
Jun 30, 2015 — = — × — × 2.94
Mar 31, 2015 — = — × — × 3.05

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

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.

Five-Component Disaggregation of ROE

DuPont de Nemours Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 31, 2019 1.22% = 0.78 × 0.49 × 6.07% × 0.31 × 1.69
Sep 30, 2019 1.93% = 0.55 × 0.54 × 5.29% × 0.72 × 1.70
Jun 30, 2019 2.19% = 0.51 × 0.56 × 4.95% × 0.92 × 1.69
Mar 31, 2019 3.53% = 0.71 × 0.74 × 7.34% × 0.44 × 2.05
Dec 31, 2018 4.06% = 0.72 × 0.78 × 7.95% × 0.46 × 1.99
Sep 30, 2018 2.15% = 1.26 × 0.54 × 3.60% × 0.47 × 1.88
Jun 30, 2018 2.16% = 1.10 × 0.59 × 4.04% × 0.43 × 1.91
Mar 31, 2018 1.66% = 1.22 × 0.53 × 3.66% × 0.37 × 1.90
Dec 31, 2017 1.46% = 1.48 × 0.48 × 3.31% × 0.33 × 1.92
Sep 30, 2017 2.70% = 0.74 × 0.80 × 8.46% × 0.28 × 1.93
Jun 30, 2017 10.78% = 0.82 × 0.81 × 8.78% × 0.64 × 2.89
Mar 31, 2017 18.30% = 0.94 × 0.86 × 12.15% × 0.63 × 2.99
Dec 31, 2016 16.62% = 1.00 × 0.83 × 10.77% × 0.61 × 3.06
Sep 30, 2016 27.13% = 0.91 × 0.91 × 20.50% × 0.58 × 2.78
Jun 30, 2016 29.20% = 0.88 × 0.92 × 22.74% × 0.57 × 2.82
Mar 31, 2016 25.24% = 0.83 × 0.90 × 18.51% × 0.69 × 2.67
Dec 31, 2015 30.29% = 0.78 × 0.91 × 22.10% × 0.72 × 2.68
Sep 30, 2015 — = — × — × — × — × 2.87
Jun 30, 2015 — = — × — × — × — × 2.94
Mar 31, 2015 — = — × — × — × — × 3.05

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

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

DuPont de Nemours Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Dec 31, 2019 0.72% = 2.31% × 0.31
Sep 30, 2019 1.14% = 1.57% × 0.72
Jun 30, 2019 1.30% = 1.41% × 0.92
Mar 31, 2019 1.72% = 3.88% × 0.44
Dec 31, 2018 2.04% = 4.47% × 0.46
Sep 30, 2018 1.14% = 2.45% × 0.47
Jun 30, 2018 1.13% = 2.62% × 0.43
Mar 31, 2018 0.87% = 2.37% × 0.37
Dec 31, 2017 0.76% = 2.34% × 0.33
Sep 30, 2017 1.40% = 5.01% × 0.28
Jun 30, 2017 3.73% = 5.83% × 0.64
Mar 31, 2017 6.13% = 9.77% × 0.63
Dec 31, 2016 5.43% = 8.97% × 0.61
Sep 30, 2016 9.77% = 16.91% × 0.58
Jun 30, 2016 10.36% = 18.31% × 0.57
Mar 31, 2016 9.44% = 13.71% × 0.69
Dec 31, 2015 11.30% = 15.76% × 0.72
Sep 30, 2015 — = — × —
Jun 30, 2015 — = — × —
Mar 31, 2015 — = — × —

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in asset turnover ratio.

Four-Component Disaggregation of ROA

DuPont de Nemours Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 31, 2019 0.72% = 0.78 × 0.49 × 6.07% × 0.31
Sep 30, 2019 1.14% = 0.55 × 0.54 × 5.29% × 0.72
Jun 30, 2019 1.30% = 0.51 × 0.56 × 4.95% × 0.92
Mar 31, 2019 1.72% = 0.71 × 0.74 × 7.34% × 0.44
Dec 31, 2018 2.04% = 0.72 × 0.78 × 7.95% × 0.46
Sep 30, 2018 1.14% = 1.26 × 0.54 × 3.60% × 0.47
Jun 30, 2018 1.13% = 1.10 × 0.59 × 4.04% × 0.43
Mar 31, 2018 0.87% = 1.22 × 0.53 × 3.66% × 0.37
Dec 31, 2017 0.76% = 1.48 × 0.48 × 3.31% × 0.33
Sep 30, 2017 1.40% = 0.74 × 0.80 × 8.46% × 0.28
Jun 30, 2017 3.73% = 0.82 × 0.81 × 8.78% × 0.64
Mar 31, 2017 6.13% = 0.94 × 0.86 × 12.15% × 0.63
Dec 31, 2016 5.43% = 1.00 × 0.83 × 10.77% × 0.61
Sep 30, 2016 9.77% = 0.91 × 0.91 × 20.50% × 0.58
Jun 30, 2016 10.36% = 0.88 × 0.92 × 22.74% × 0.57
Mar 31, 2016 9.44% = 0.83 × 0.90 × 18.51% × 0.69
Dec 31, 2015 11.30% = 0.78 × 0.91 × 22.10% × 0.72
Sep 30, 2015 — = — × — × — × —
Jun 30, 2015 — = — × — × — × —
Mar 31, 2015 — = — × — × — × —

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

DuPont de Nemours Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 31, 2019 2.31% = 0.78 × 0.49 × 6.07%
Sep 30, 2019 1.57% = 0.55 × 0.54 × 5.29%
Jun 30, 2019 1.41% = 0.51 × 0.56 × 4.95%
Mar 31, 2019 3.88% = 0.71 × 0.74 × 7.34%
Dec 31, 2018 4.47% = 0.72 × 0.78 × 7.95%
Sep 30, 2018 2.45% = 1.26 × 0.54 × 3.60%
Jun 30, 2018 2.62% = 1.10 × 0.59 × 4.04%
Mar 31, 2018 2.37% = 1.22 × 0.53 × 3.66%
Dec 31, 2017 2.34% = 1.48 × 0.48 × 3.31%
Sep 30, 2017 5.01% = 0.74 × 0.80 × 8.46%
Jun 30, 2017 5.83% = 0.82 × 0.81 × 8.78%
Mar 31, 2017 9.77% = 0.94 × 0.86 × 12.15%
Dec 31, 2016 8.97% = 1.00 × 0.83 × 10.77%
Sep 30, 2016 16.91% = 0.91 × 0.91 × 20.50%
Jun 30, 2016 18.31% = 0.88 × 0.92 × 22.74%
Mar 31, 2016 13.71% = 0.83 × 0.90 × 18.51%
Dec 31, 2015 15.76% = 0.78 × 0.91 × 22.10%
Sep 30, 2015 — = — × — × —
Jun 30, 2015 — = — × — × —
Mar 31, 2015 — = — × — × —

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the increase in net profit margin ratio over Q4 2019 is the increase in effect of taxes measured by tax burden ratio.