Stock Analysis on Net
Stock Analysis on Net

Halliburton Co. (NYSE:HAL)

This company has been moved to the archive! The financial data has not been updated since February 13, 2019.

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

Microsoft Excel

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

Two-Component Disaggregation of ROE

Halliburton Co., decomposition of ROE

Microsoft Excel
ROE = ROA × Financial Leverage
Dec 31, 2018 17.39% = 6.37% × 2.73
Dec 31, 2017 -5.56% = -1.85% × 3.01
Dec 31, 2016 -61.25% = -21.34% × 2.87
Dec 31, 2015 -4.34% = -1.82% × 2.39
Dec 31, 2014 21.52% = 10.86% × 1.98

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Three-Component Disaggregation of ROE

Halliburton Co., decomposition of ROE

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 31, 2018 17.39% = 6.90% × 0.92 × 2.73
Dec 31, 2017 -5.56% = -2.25% × 0.82 × 3.01
Dec 31, 2016 -61.25% = -36.27% × 0.59 × 2.87
Dec 31, 2015 -4.34% = -2.84% × 0.64 × 2.39
Dec 31, 2014 21.52% = 10.65% × 1.02 × 1.98

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Five-Component Disaggregation of ROE

Halliburton Co., decomposition of ROE

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 31, 2018 17.39% = 0.91 × 0.75 × 10.05% × 0.92 × 2.73
Dec 31, 2017 -5.56% = -0.69 × 0.49 × 6.66% × 0.82 × 3.01
Dec 31, 2016 -61.25% = — × — × -43.58% × 0.59 × 2.87
Dec 31, 2015 -4.34% = — × — × -2.04% × 0.64 × 2.39
Dec 31, 2014 21.52% = 0.73 × 0.92 × 15.73% × 1.02 × 1.98

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Two-Component Disaggregation of ROA

Halliburton Co., decomposition of ROA

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Dec 31, 2018 6.37% = 6.90% × 0.92
Dec 31, 2017 -1.85% = -2.25% × 0.82
Dec 31, 2016 -21.34% = -36.27% × 0.59
Dec 31, 2015 -1.82% = -2.84% × 0.64
Dec 31, 2014 10.86% = 10.65% × 1.02

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Four-Component Disaggregation of ROA

Halliburton Co., decomposition of ROA

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 31, 2018 6.37% = 0.91 × 0.75 × 10.05% × 0.92
Dec 31, 2017 -1.85% = -0.69 × 0.49 × 6.66% × 0.82
Dec 31, 2016 -21.34% = — × — × -43.58% × 0.59
Dec 31, 2015 -1.82% = — × — × -2.04% × 0.64
Dec 31, 2014 10.86% = 0.73 × 0.92 × 15.73% × 1.02

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Disaggregation of Net Profit Margin

Halliburton Co., decomposition of net profit margin ratio

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 31, 2018 6.90% = 0.91 × 0.75 × 10.05%
Dec 31, 2017 -2.25% = -0.69 × 0.49 × 6.66%
Dec 31, 2016 -36.27% = — × — × -43.58%
Dec 31, 2015 -2.84% = — × — × -2.04%
Dec 31, 2014 10.65% = 0.73 × 0.92 × 15.73%

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).