DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data
Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.
Two-Component Disaggregation of ROE
General Electric Co., decomposition of ROE (quarterly data)
|
|
|
|
|
|
|
ROE |
= |
ROA |
× |
Financial Leverage |
Sep 30, 2022 |
-18.56% |
= |
-3.23% |
× |
5.75 |
Jun 30, 2022 |
-12.75% |
= |
-2.38% |
× |
5.35 |
Mar 31, 2022 |
-12.20% |
= |
-2.48% |
× |
4.92 |
Dec 31, 2021 |
-16.17% |
= |
-3.28% |
× |
4.93 |
Sep 30, 2021 |
-0.11% |
= |
-0.02% |
× |
6.33 |
Jun 30, 2021 |
-7.29% |
= |
-1.03% |
× |
7.09 |
Mar 31, 2021 |
-9.82% |
= |
-1.34% |
× |
7.30 |
Dec 31, 2020 |
16.04% |
= |
2.25% |
× |
7.13 |
Sep 30, 2020 |
11.41% |
= |
1.49% |
× |
7.64 |
Jun 30, 2020 |
-13.31% |
= |
-1.75% |
× |
7.62 |
Mar 31, 2020 |
-6.71% |
= |
-0.90% |
× |
7.43 |
Dec 31, 2019 |
-17.58% |
= |
-1.87% |
× |
9.40 |
Sep 30, 2019 |
-17.71% |
= |
-1.88% |
× |
9.42 |
Jun 30, 2019 |
-51.07% |
= |
-5.86% |
× |
8.71 |
Mar 31, 2019 |
-50.11% |
= |
-5.59% |
× |
8.96 |
Dec 31, 2018 |
-72.16% |
= |
-7.23% |
× |
9.98 |
Sep 30, 2018 |
-104.15% |
= |
-10.51% |
× |
9.91 |
Jun 30, 2018 |
-14.81% |
= |
-2.38% |
× |
6.22 |
Mar 31, 2018 |
-13.55% |
= |
-2.12% |
× |
6.40 |
Dec 31, 2017 |
-9.00% |
= |
-1.53% |
× |
5.88 |
Sep 30, 2017 |
— |
= |
— |
× |
4.97 |
Jun 30, 2017 |
— |
= |
— |
× |
4.79 |
Mar 31, 2017 |
— |
= |
— |
× |
4.72 |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).
Three-Component Disaggregation of ROE
General Electric Co., decomposition of ROE (quarterly data)
|
|
|
|
|
|
|
|
|
ROE |
= |
Net Profit Margin |
× |
Asset Turnover |
× |
Financial Leverage |
Sep 30, 2022 |
-18.56% |
= |
-8.10% |
× |
0.40 |
× |
5.75 |
Jun 30, 2022 |
-12.75% |
= |
-6.18% |
× |
0.39 |
× |
5.35 |
Mar 31, 2022 |
-12.20% |
= |
-6.70% |
× |
0.37 |
× |
4.92 |
Dec 31, 2021 |
-16.17% |
= |
-9.17% |
× |
0.36 |
× |
4.93 |
Sep 30, 2021 |
-0.11% |
= |
-0.06% |
× |
0.30 |
× |
6.33 |
Jun 30, 2021 |
-7.29% |
= |
-3.39% |
× |
0.30 |
× |
7.09 |
Mar 31, 2021 |
-9.82% |
= |
-4.68% |
× |
0.29 |
× |
7.30 |
Dec 31, 2020 |
16.04% |
= |
7.81% |
× |
0.29 |
× |
7.13 |
Sep 30, 2020 |
11.41% |
= |
4.92% |
× |
0.30 |
× |
7.64 |
Jun 30, 2020 |
-13.31% |
= |
-5.55% |
× |
0.31 |
× |
7.62 |
Mar 31, 2020 |
-6.71% |
= |
-2.75% |
× |
0.33 |
× |
7.43 |
Dec 31, 2019 |
-17.58% |
= |
-5.69% |
× |
0.33 |
× |
9.40 |
Sep 30, 2019 |
-17.71% |
= |
-5.25% |
× |
0.36 |
× |
9.42 |
Jun 30, 2019 |
-51.07% |
= |
-18.26% |
× |
0.32 |
× |
8.71 |
Mar 31, 2019 |
-50.11% |
= |
-16.48% |
× |
0.34 |
× |
8.96 |
Dec 31, 2018 |
-72.16% |
= |
-19.69% |
× |
0.37 |
× |
9.98 |
Sep 30, 2018 |
-104.15% |
= |
-28.80% |
× |
0.36 |
× |
9.91 |
Jun 30, 2018 |
-14.81% |
= |
-7.05% |
× |
0.34 |
× |
6.22 |
Mar 31, 2018 |
-13.55% |
= |
-6.61% |
× |
0.32 |
× |
6.40 |
Dec 31, 2017 |
-9.00% |
= |
-5.11% |
× |
0.30 |
× |
5.88 |
Sep 30, 2017 |
— |
= |
— |
× |
— |
× |
4.97 |
Jun 30, 2017 |
— |
= |
— |
× |
— |
× |
4.79 |
Mar 31, 2017 |
— |
= |
— |
× |
— |
× |
4.72 |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).
Five-Component Disaggregation of ROE
General Electric Co., decomposition of ROE (quarterly data)
|
|
|
|
|
|
|
|
|
|
|
|
|
ROE |
= |
Tax Burden |
× |
Interest Burden |
× |
EBIT Margin |
× |
Asset Turnover |
× |
Financial Leverage |
Sep 30, 2022 |
-18.56% |
= |
— |
× |
— |
× |
-5.06% |
× |
0.40 |
× |
5.75 |
Jun 30, 2022 |
-12.75% |
= |
— |
× |
— |
× |
-3.04% |
× |
0.39 |
× |
5.35 |
Mar 31, 2022 |
-12.20% |
= |
— |
× |
— |
× |
-4.51% |
× |
0.37 |
× |
4.92 |
Dec 31, 2021 |
-16.17% |
= |
— |
× |
— |
× |
-6.94% |
× |
0.36 |
× |
4.93 |
Sep 30, 2021 |
-0.11% |
= |
— |
× |
-0.10 |
× |
2.76% |
× |
0.30 |
× |
6.33 |
Jun 30, 2021 |
-7.29% |
= |
— |
× |
— |
× |
-0.88% |
× |
0.30 |
× |
7.09 |
Mar 31, 2021 |
-9.82% |
= |
— |
× |
— |
× |
-1.01% |
× |
0.29 |
× |
7.30 |
Dec 31, 2020 |
16.04% |
= |
1.09 |
× |
0.62 |
× |
11.64% |
× |
0.29 |
× |
7.13 |
Sep 30, 2020 |
11.41% |
= |
0.98 |
× |
0.53 |
× |
9.57% |
× |
0.30 |
× |
7.64 |
Jun 30, 2020 |
-13.31% |
= |
— |
× |
-22.26 |
× |
0.21% |
× |
0.31 |
× |
7.62 |
Mar 31, 2020 |
-6.71% |
= |
— |
× |
-0.77 |
× |
2.60% |
× |
0.33 |
× |
7.43 |
Dec 31, 2019 |
-17.58% |
= |
— |
× |
— |
× |
-0.03% |
× |
0.33 |
× |
9.40 |
Sep 30, 2019 |
-17.71% |
= |
— |
× |
— |
× |
-0.55% |
× |
0.36 |
× |
9.42 |
Jun 30, 2019 |
-51.07% |
= |
— |
× |
— |
× |
-13.77% |
× |
0.32 |
× |
8.71 |
Mar 31, 2019 |
-50.11% |
= |
— |
× |
— |
× |
-11.25% |
× |
0.34 |
× |
8.96 |
Dec 31, 2018 |
-72.16% |
= |
— |
× |
— |
× |
-14.72% |
× |
0.37 |
× |
9.98 |
Sep 30, 2018 |
-104.15% |
= |
— |
× |
— |
× |
-26.11% |
× |
0.36 |
× |
9.91 |
Jun 30, 2018 |
-14.81% |
= |
— |
× |
— |
× |
-4.82% |
× |
0.34 |
× |
6.22 |
Mar 31, 2018 |
-13.55% |
= |
— |
× |
— |
× |
-4.93% |
× |
0.32 |
× |
6.40 |
Dec 31, 2017 |
-9.00% |
= |
— |
× |
— |
× |
-3.50% |
× |
0.30 |
× |
5.88 |
Sep 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
× |
4.97 |
Jun 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
× |
4.79 |
Mar 31, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
× |
4.72 |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).
Two-Component Disaggregation of ROA
General Electric Co., decomposition of ROA (quarterly data)
|
|
|
|
|
|
|
ROA |
= |
Net Profit Margin |
× |
Asset Turnover |
Sep 30, 2022 |
-3.23% |
= |
-8.10% |
× |
0.40 |
Jun 30, 2022 |
-2.38% |
= |
-6.18% |
× |
0.39 |
Mar 31, 2022 |
-2.48% |
= |
-6.70% |
× |
0.37 |
Dec 31, 2021 |
-3.28% |
= |
-9.17% |
× |
0.36 |
Sep 30, 2021 |
-0.02% |
= |
-0.06% |
× |
0.30 |
Jun 30, 2021 |
-1.03% |
= |
-3.39% |
× |
0.30 |
Mar 31, 2021 |
-1.34% |
= |
-4.68% |
× |
0.29 |
Dec 31, 2020 |
2.25% |
= |
7.81% |
× |
0.29 |
Sep 30, 2020 |
1.49% |
= |
4.92% |
× |
0.30 |
Jun 30, 2020 |
-1.75% |
= |
-5.55% |
× |
0.31 |
Mar 31, 2020 |
-0.90% |
= |
-2.75% |
× |
0.33 |
Dec 31, 2019 |
-1.87% |
= |
-5.69% |
× |
0.33 |
Sep 30, 2019 |
-1.88% |
= |
-5.25% |
× |
0.36 |
Jun 30, 2019 |
-5.86% |
= |
-18.26% |
× |
0.32 |
Mar 31, 2019 |
-5.59% |
= |
-16.48% |
× |
0.34 |
Dec 31, 2018 |
-7.23% |
= |
-19.69% |
× |
0.37 |
Sep 30, 2018 |
-10.51% |
= |
-28.80% |
× |
0.36 |
Jun 30, 2018 |
-2.38% |
= |
-7.05% |
× |
0.34 |
Mar 31, 2018 |
-2.12% |
= |
-6.61% |
× |
0.32 |
Dec 31, 2017 |
-1.53% |
= |
-5.11% |
× |
0.30 |
Sep 30, 2017 |
— |
= |
— |
× |
— |
Jun 30, 2017 |
— |
= |
— |
× |
— |
Mar 31, 2017 |
— |
= |
— |
× |
— |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).
Four-Component Disaggregation of ROA
General Electric Co., decomposition of ROA (quarterly data)
|
|
|
|
|
|
|
|
|
|
|
ROA |
= |
Tax Burden |
× |
Interest Burden |
× |
EBIT Margin |
× |
Asset Turnover |
Sep 30, 2022 |
-3.23% |
= |
— |
× |
— |
× |
-5.06% |
× |
0.40 |
Jun 30, 2022 |
-2.38% |
= |
— |
× |
— |
× |
-3.04% |
× |
0.39 |
Mar 31, 2022 |
-2.48% |
= |
— |
× |
— |
× |
-4.51% |
× |
0.37 |
Dec 31, 2021 |
-3.28% |
= |
— |
× |
— |
× |
-6.94% |
× |
0.36 |
Sep 30, 2021 |
-0.02% |
= |
— |
× |
-0.10 |
× |
2.76% |
× |
0.30 |
Jun 30, 2021 |
-1.03% |
= |
— |
× |
— |
× |
-0.88% |
× |
0.30 |
Mar 31, 2021 |
-1.34% |
= |
— |
× |
— |
× |
-1.01% |
× |
0.29 |
Dec 31, 2020 |
2.25% |
= |
1.09 |
× |
0.62 |
× |
11.64% |
× |
0.29 |
Sep 30, 2020 |
1.49% |
= |
0.98 |
× |
0.53 |
× |
9.57% |
× |
0.30 |
Jun 30, 2020 |
-1.75% |
= |
— |
× |
-22.26 |
× |
0.21% |
× |
0.31 |
Mar 31, 2020 |
-0.90% |
= |
— |
× |
-0.77 |
× |
2.60% |
× |
0.33 |
Dec 31, 2019 |
-1.87% |
= |
— |
× |
— |
× |
-0.03% |
× |
0.33 |
Sep 30, 2019 |
-1.88% |
= |
— |
× |
— |
× |
-0.55% |
× |
0.36 |
Jun 30, 2019 |
-5.86% |
= |
— |
× |
— |
× |
-13.77% |
× |
0.32 |
Mar 31, 2019 |
-5.59% |
= |
— |
× |
— |
× |
-11.25% |
× |
0.34 |
Dec 31, 2018 |
-7.23% |
= |
— |
× |
— |
× |
-14.72% |
× |
0.37 |
Sep 30, 2018 |
-10.51% |
= |
— |
× |
— |
× |
-26.11% |
× |
0.36 |
Jun 30, 2018 |
-2.38% |
= |
— |
× |
— |
× |
-4.82% |
× |
0.34 |
Mar 31, 2018 |
-2.12% |
= |
— |
× |
— |
× |
-4.93% |
× |
0.32 |
Dec 31, 2017 |
-1.53% |
= |
— |
× |
— |
× |
-3.50% |
× |
0.30 |
Sep 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
Jun 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
Mar 31, 2017 |
— |
= |
— |
× |
— |
× |
— |
× |
— |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).
Disaggregation of Net Profit Margin
General Electric Co., decomposition of net profit margin ratio (quarterly data)
|
|
|
|
|
|
|
|
|
Net Profit Margin |
= |
Tax Burden |
× |
Interest Burden |
× |
EBIT Margin |
Sep 30, 2022 |
-8.10% |
= |
— |
× |
— |
× |
-5.06% |
Jun 30, 2022 |
-6.18% |
= |
— |
× |
— |
× |
-3.04% |
Mar 31, 2022 |
-6.70% |
= |
— |
× |
— |
× |
-4.51% |
Dec 31, 2021 |
-9.17% |
= |
— |
× |
— |
× |
-6.94% |
Sep 30, 2021 |
-0.06% |
= |
— |
× |
-0.10 |
× |
2.76% |
Jun 30, 2021 |
-3.39% |
= |
— |
× |
— |
× |
-0.88% |
Mar 31, 2021 |
-4.68% |
= |
— |
× |
— |
× |
-1.01% |
Dec 31, 2020 |
7.81% |
= |
1.09 |
× |
0.62 |
× |
11.64% |
Sep 30, 2020 |
4.92% |
= |
0.98 |
× |
0.53 |
× |
9.57% |
Jun 30, 2020 |
-5.55% |
= |
— |
× |
-22.26 |
× |
0.21% |
Mar 31, 2020 |
-2.75% |
= |
— |
× |
-0.77 |
× |
2.60% |
Dec 31, 2019 |
-5.69% |
= |
— |
× |
— |
× |
-0.03% |
Sep 30, 2019 |
-5.25% |
= |
— |
× |
— |
× |
-0.55% |
Jun 30, 2019 |
-18.26% |
= |
— |
× |
— |
× |
-13.77% |
Mar 31, 2019 |
-16.48% |
= |
— |
× |
— |
× |
-11.25% |
Dec 31, 2018 |
-19.69% |
= |
— |
× |
— |
× |
-14.72% |
Sep 30, 2018 |
-28.80% |
= |
— |
× |
— |
× |
-26.11% |
Jun 30, 2018 |
-7.05% |
= |
— |
× |
— |
× |
-4.82% |
Mar 31, 2018 |
-6.61% |
= |
— |
× |
— |
× |
-4.93% |
Dec 31, 2017 |
-5.11% |
= |
— |
× |
— |
× |
-3.50% |
Sep 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
Jun 30, 2017 |
— |
= |
— |
× |
— |
× |
— |
Mar 31, 2017 |
— |
= |
— |
× |
— |
× |
— |
Based on:
10-Q (reporting date: 2022-09-30),
10-Q (reporting date: 2022-06-30),
10-Q (reporting date: 2022-03-31),
10-K (reporting date: 2021-12-31),
10-Q (reporting date: 2021-09-30),
10-Q (reporting date: 2021-06-30),
10-Q (reporting date: 2021-03-31),
10-K (reporting date: 2020-12-31),
10-Q (reporting date: 2020-09-30),
10-Q (reporting date: 2020-06-30),
10-Q (reporting date: 2020-03-31),
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).