Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Ecolab Inc. (NYSE:ECL)

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

Beginner level

Two-Component Disaggregation of ROE

Ecolab Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Mar 31, 2021 -20.58% = -7.11% × 2.89
Dec 31, 2020 -19.54% = -6.65% × 2.94
Sep 30, 2020 -17.89% = -5.94% × 3.01
Jun 30, 2020 -14.65% = -4.74% × 3.09
Mar 31, 2020 17.52% = 6.92% × 2.53
Dec 31, 2019 17.95% = 7.47% × 2.40
Sep 30, 2019 17.79% = 7.32% × 2.43
Jun 30, 2019 18.18% = 7.18% × 2.53
Mar 31, 2019 17.98% = 7.06% × 2.55
Dec 31, 2018 17.86% = 7.12% × 2.51
Sep 30, 2018 20.18% = 8.01% × 2.52
Jun 30, 2018 19.83% = 7.80% × 2.54
Mar 31, 2018 19.76% = 7.44% × 2.66
Dec 31, 2017 19.80% = 7.56% × 2.62
Sep 30, 2017 18.12% = 6.59% × 2.75
Jun 30, 2017 18.65% = 6.61% × 2.82
Mar 31, 2017 18.39% = 6.51% × 2.82
Dec 31, 2016 17.82% = 6.71% × 2.66
Sep 30, 2016 = × 2.68
Jun 30, 2016 = × 2.76
Mar 31, 2016 = × 2.79

Based on: 10-Q (filing date: 2021-05-06), 10-K (filing date: 2021-02-26), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05).


Three-Component Disaggregation of ROE

Ecolab Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2021 -20.58% = -11.11% × 0.64 × 2.89
Dec 31, 2020 -19.54% = -10.22% × 0.65 × 2.94
Sep 30, 2020 -17.89% = -8.57% × 0.69 × 3.01
Jun 30, 2020 -14.65% = -6.43% × 0.74 × 3.09
Mar 31, 2020 17.52% = 10.72% × 0.65 × 2.53
Dec 31, 2019 17.95% = 10.46% × 0.71 × 2.40
Sep 30, 2019 17.79% = 10.27% × 0.71 × 2.43
Jun 30, 2019 18.18% = 10.12% × 0.71 × 2.53
Mar 31, 2019 17.98% = 10.05% × 0.70 × 2.55
Dec 31, 2018 17.86% = 9.74% × 0.73 × 2.51
Sep 30, 2018 20.18% = 10.99% × 0.73 × 2.52
Jun 30, 2018 19.83% = 10.83% × 0.72 × 2.54
Mar 31, 2018 19.76% = 10.62% × 0.70 × 2.66
Dec 31, 2017 19.80% = 10.90% × 0.69 × 2.62
Sep 30, 2017 18.12% = 9.67% × 0.68 × 2.75
Jun 30, 2017 18.65% = 9.66% × 0.68 × 2.82
Mar 31, 2017 18.39% = 9.47% × 0.69 × 2.82
Dec 31, 2016 17.82% = 9.35% × 0.72 × 2.66
Sep 30, 2016 = × × 2.68
Jun 30, 2016 = × × 2.76
Mar 31, 2016 = × × 2.79

Based on: 10-Q (filing date: 2021-05-06), 10-K (filing date: 2021-02-26), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05).


Two-Component Disaggregation of ROA

Ecolab Inc., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2021 -7.11% = -11.11% × 0.64
Dec 31, 2020 -6.65% = -10.22% × 0.65
Sep 30, 2020 -5.94% = -8.57% × 0.69
Jun 30, 2020 -4.74% = -6.43% × 0.74
Mar 31, 2020 6.92% = 10.72% × 0.65
Dec 31, 2019 7.47% = 10.46% × 0.71
Sep 30, 2019 7.32% = 10.27% × 0.71
Jun 30, 2019 7.18% = 10.12% × 0.71
Mar 31, 2019 7.06% = 10.05% × 0.70
Dec 31, 2018 7.12% = 9.74% × 0.73
Sep 30, 2018 8.01% = 10.99% × 0.73
Jun 30, 2018 7.80% = 10.83% × 0.72
Mar 31, 2018 7.44% = 10.62% × 0.70
Dec 31, 2017 7.56% = 10.90% × 0.69
Sep 30, 2017 6.59% = 9.67% × 0.68
Jun 30, 2017 6.61% = 9.66% × 0.68
Mar 31, 2017 6.51% = 9.47% × 0.69
Dec 31, 2016 6.71% = 9.35% × 0.72
Sep 30, 2016 = ×
Jun 30, 2016 = ×
Mar 31, 2016 = ×

Based on: 10-Q (filing date: 2021-05-06), 10-K (filing date: 2021-02-26), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05).