Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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Hilton Worldwide Holdings Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Return on Equity (ROE) since 2013
- Return on Assets (ROA) since 2013
- Analysis of Revenues
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Profitability Ratios (Summary)
Hilton Worldwide Holdings Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
The financial data reveals several noteworthy trends and fluctuations over the periods analyzed. Both profitability margins and asset returns experienced significant variations, particularly during the periods impacted by external disruptions.
- Operating profit margin
- The operating profit margin initially shows a steady positive performance in early 2019, peaking at 17.53% at the end of that year. A sharp decrease begins in early 2020, dropping to negative values by March 31, 2021, with the lowest point around -14.26% in mid-2021. Following this trough, there is a marked recovery trend, with margins improving steadily throughout 2021 and 2022, reaching above 23% by the end of 2022 and maintaining a stable margin slightly above 21% into mid-2024.
- Net profit margin
- The net profit margin follows a pattern broadly similar to that of the operating profit margin but with more pronounced negative values. Starting near 9.32% at the end of 2019, it experienced a steep decline during 2020, reaching a low of -25.79% in mid-2020. Recovery began in late 2020 but was initially uneven, with negative margins persisting through early 2021. From late 2021 onward, the margin improved consistently, reaching approximately 14.31% by the end of 2022. In subsequent quarters, net profit margins remain positive, stabilizing around 11% into mid-2024.
- Return on assets (ROA)
- The ROA demonstrates a similar trajectory to profitability margins, with significant declines during 2020 which reflect the challenging operating environment. From a positive 5.89% at the close of 2019, ROA falls into negative territory, bottoming around -5.26% mid-2020, then gradually recovers through 2021. By the end of 2022, ROA climbs back to near 7%, continuing an upward trend into 2023 and 2024, with values hovering around 7.5% in recent quarters. This indicates improved asset utilization and profitability on the asset base following the recovery period.
- Return on equity (ROE)
- No data was available on return on equity throughout the periods examined.
Overall, the data illustrates a clear impact of adverse conditions beginning in early 2020, resulting in sharp declines in all reported profitability metrics. The subsequent stabilization and recovery indicate improving operational efficiency and profitability from late 2020 through mid-2024. Margins and returns approaching or exceeding pre-2020 levels suggest successful adaptation to market conditions and a strengthening financial performance trend in the most recent quarters.
Return on Sales
Return on Investment
Operating Profit Margin
Hilton Worldwide Holdings Inc., operating profit margin calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating income (loss) | |||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | |||||||||||||||||||||||||||||
| Booking Holdings Inc. | |||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | |||||||||||||||||||||||||||||
| DoorDash, Inc. | |||||||||||||||||||||||||||||
| McDonald’s Corp. | |||||||||||||||||||||||||||||
| Starbucks Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q2 2024 Calculation
Operating profit margin = 100
× (Operating income (loss)Q2 2024
+ Operating income (loss)Q1 2024
+ Operating income (loss)Q4 2023
+ Operating income (loss)Q3 2023)
÷ (RevenuesQ2 2024
+ RevenuesQ1 2024
+ RevenuesQ4 2023
+ RevenuesQ3 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Operating Income (Loss) Trends
- Operating income exhibited significant volatility throughout the analyzed period. Initially, from early 2019 through the end of that year, operating income remained positive and relatively stable, peaking at 519 million USD in Q3 2019. However, starting in Q1 2020, a sharp decline is evident, with operating income turning negative by mid-year, notably hitting a low of -302 million USD in Q2 2020. This adverse trend likely corresponds to broader economic impacts during that timeframe.
- Subsequently, operating income began a gradual recovery from Q3 2020 onward, oscillating between small gains and losses until Q4 2020. From 2021 forward, income progressively improved, consistently achieving positive values and notable growth. Peaks were observed in Q3 2022 (623 million USD) and Q2 2024 (725 million USD), demonstrating a robust resurgence in operational profitability.
- Revenues Analysis
- Revenue trends mirrored operating income fluctuations, with strong performance in 2019, maintaining levels mostly above 2 billion USD quarterly. This was followed by a pronounced drop beginning Q1 2020, hitting a nadir in Q2 2020 at 564 million USD, reflecting a contraction exceeding 70% from prior years’ norms.
- A recovery phase ensued post-Q2 2020, with revenues gradually increasing across subsequent quarters. By 2021, revenues consistently rose, nearing and surpassing 2 billion USD in multiple quarters in 2022 and 2023. The highest recorded quarterly revenue was 2.95 billion USD in Q2 2024, representing a strong rebound and growth relative to pre-pandemic figures.
- Operating Profit Margin Insights
- Margin data, available from Q4 2019 onward, reveals a peak of 17.53% in Q4 2019, followed by a decline in early 2020, dropping to -14.26% in Q2 2020 which aligns with the negative operating income during the pandemic onset.
- From Q3 2020, margins began to recover, transitioning back to positive territory by Q4 2020 and progressively improving through 2021 and beyond. Margins exceeded 20% consistently from Q2 2022 through Q3 2023, indicating enhanced operational efficiency and profitability during the recovery phase. Although a slight decline in margin is noted by mid-2024, it remains above 21%, maintaining a strong performance stance.
- Overall Financial Performance
- The data shows a significant disruption in operating income, revenues, and margins beginning in early 2020, likely reflecting extraordinary external challenges. This period is characterized by a sharp downturn, followed by a steady and sustained recovery over subsequent quarters.
- By mid-2022, financial metrics not only recovered but generally surpassed pre-disruption levels, highlighting strong operational resilience and growth momentum through 2023 and into 2024. The stabilization of profit margins above 20% alongside rising revenues indicates effective cost control and favorable market conditions during the recovery interval.
Net Profit Margin
Hilton Worldwide Holdings Inc., net profit margin calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Hilton stockholders | |||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | |||||||||||||||||||||||||||||
| Booking Holdings Inc. | |||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | |||||||||||||||||||||||||||||
| DoorDash, Inc. | |||||||||||||||||||||||||||||
| McDonald’s Corp. | |||||||||||||||||||||||||||||
| Starbucks Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q2 2024 Calculation
Net profit margin = 100
× (Net income (loss) attributable to Hilton stockholdersQ2 2024
+ Net income (loss) attributable to Hilton stockholdersQ1 2024
+ Net income (loss) attributable to Hilton stockholdersQ4 2023
+ Net income (loss) attributable to Hilton stockholdersQ3 2023)
÷ (RevenuesQ2 2024
+ RevenuesQ1 2024
+ RevenuesQ4 2023
+ RevenuesQ3 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Hilton Stockholders
- The net income demonstrates significant variability across the periods analyzed. During 2019, the company maintained positive earnings ranging from $158 million to $288 million. However, starting in the first quarter of 2020, a sharp decline is evident, with losses intensifying during the mid-2020 quarters, including a substantial recorded loss of $430 million in June 2020. The recovery begins in late 2020, with fluctuations but generally positive results resuming by the end of 2020 and throughout 2021 and 2022. Notably, net income peaks in June 2023 at $411 million before facing a slight decline in subsequent quarters, including a reduction down to $147 million in December 2023 but recovers again by mid-2024 to $421 million. This pattern reflects a disruptive impact likely caused by external factors in 2020, followed by a gradual rebound and stabilization in profitability.
- Revenues
- Revenues experienced a downward trend in early 2020, dropping sharply from approximately $2.4 billion in late 2019 to a low of $564 million in June 2020. This decline aligns with the timing of global economic disruptions during that period. Thereafter, revenues steadily increased through 2021 and into 2022, nearing pre-2020 levels by mid-2022. In 2023 and into 2024, revenues continue an upward trajectory, reaching a high of $2.951 billion by June 2024. The overall trend reveals a significant dip caused in early 2020, followed by a sustained recovery and growth exceeding previous peaks.
- Net Profit Margin
- The net profit margin closely mirrors the trends seen in net income and revenues. While specific percentages for early 2019 are unavailable, the margin stood above 8% in early 2020, before plunging sharply to negative territory mid-year, hitting a low near -25.79% in June 2020. This negative margin reflects the large losses recorded in the same period. Following mid-2020, the profit margin recovers progressively, returning to positive figures by the end of 2020 and continuing to improve through 2021 and 2022, reaching levels above 13% by late 2022 and maintaining percentages around 11-13% through mid-2024. This recovery in margin indicates improved operational efficiency and profitability as the company resumed growth in revenues.
- Overall Analysis
- The data reveals that the company underwent a severe financial impact starting in early 2020, with substantial reductions in revenue and net income, and deeply negative profit margins. This period is characterized by significant losses, reaching the worst point in mid-2020. Following this period, the company exhibited a consistent recovery trend, with revenues returning to and surpassing pre-2020 levels by 2023-2024. Correspondingly, net income rebounded from losses to sustained profits, and net profit margins improved to stable double-digit percentages. The recovery suggests effective management responses and market conditions that favored renewed demand and operational performance during the latter part of the analyzed timeframe.
Return on Equity (ROE)
Hilton Worldwide Holdings Inc., ROE calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Hilton stockholders | |||||||||||||||||||||||||||||
| Total Hilton stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | |||||||||||||||||||||||||||||
| Booking Holdings Inc. | |||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | |||||||||||||||||||||||||||||
| DoorDash, Inc. | |||||||||||||||||||||||||||||
| McDonald’s Corp. | |||||||||||||||||||||||||||||
| Starbucks Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q2 2024 Calculation
ROE = 100
× (Net income (loss) attributable to Hilton stockholdersQ2 2024
+ Net income (loss) attributable to Hilton stockholdersQ1 2024
+ Net income (loss) attributable to Hilton stockholdersQ4 2023
+ Net income (loss) attributable to Hilton stockholdersQ3 2023)
÷ Total Hilton stockholders’ equity (deficit)
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income Trends
- The net income attributable to Hilton stockholders exhibited significant volatility over the examined quarters. From March 2019 through December 2019, net income showed a generally positive trend, peaking at 288 million US dollars in September 2019 before dropping slightly to 175 million US dollars in December 2019. Beginning in March 2020, there was a sharp decline, with net income falling drastically to 18 million US dollars and further plunging into negative territory, reaching as low as -430 million US dollars in June 2020. This downturn reflected challenges likely linked to external economic factors during that period.
- Subsequent quarters in 2020 remained negative but demonstrated some signs of recovery, with losses moderating to -79 million and -224 million US dollars in September and December respectively. In 2021, the company returned to profitability, albeit with fluctuations: the first quarter showed a negative 108 million US dollars, but by mid-year income had improved to 241 million US dollars, though it later moderated to 147 million US dollars in the final quarter. From 2022 onward, a consistent upward trend in net income was observed, with numbers increasing steadily from 212 million up to a peak of 421 million US dollars in December 2024.
- Total Stockholders’ Equity (Deficit) Patterns
- Stockholders’ equity displayed a continuous and concerning downward trajectory throughout the data period. Starting from a positive 100 million US dollars in March 2019, the equity figure entered deficit territory by mid-2019 and deteriorated progressively. The deficit steepened markedly particularly during 2020, amid the pandemic's impacts, reaching nearly -1,500 million US dollars by the end of 2020.
- Although some quarters in 2021 showed modest improvements, the overall trend remained negative. The equity deficit widened again starting in 2022, culminating in a significant deficit of over -3,000 million US dollars by June 2024. This persistent equity deficit suggests sustained financial strain and possibly increased liabilities or reduced retained earnings relative to assets.
- Return on Equity (ROE)
- Return on equity data were not provided for the analyzed periods; thus, it is not possible to assess changes in profitability relative to shareholders’ equity directly. However, the sharp negative equity levels and fluctuating net income imply that ROE, if calculated, would likely reflect considerable volatility and possibly negative returns during structural downturns.
- Overall Financial Insights
- The financial data indicates that the company faced significant operational and financial challenges starting in early 2020, with net income plummeting into losses and equity becoming increasingly negative. The pattern aligns with a period of crisis likely impacting earnings and capital structure. Recovery is evident in net income starting in 2021 and continuing through 2024, with profits improving consistently and surpassing pre-crisis highs. Despite this operational recovery, the balance sheet weakness persisted, as evidenced by the continuing and expanding stockholders’ equity deficit, raising concerns about long-term financial stability and capital adequacy. Further attention to capital restructuring or asset-liability management may be warranted to address this deficit.
Return on Assets (ROA)
Hilton Worldwide Holdings Inc., ROA calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Hilton stockholders | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | |||||||||||||||||||||||||||||
| Booking Holdings Inc. | |||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | |||||||||||||||||||||||||||||
| DoorDash, Inc. | |||||||||||||||||||||||||||||
| McDonald’s Corp. | |||||||||||||||||||||||||||||
| Starbucks Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q2 2024 Calculation
ROA = 100
× (Net income (loss) attributable to Hilton stockholdersQ2 2024
+ Net income (loss) attributable to Hilton stockholdersQ1 2024
+ Net income (loss) attributable to Hilton stockholdersQ4 2023
+ Net income (loss) attributable to Hilton stockholdersQ3 2023)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income Trends
- The net income attributable to stockholders exhibited significant volatility over the observed periods. Initially, there was a strong positive performance throughout 2019, peaking at 288 million US$ in September. The onset of 2020 marked a sharp decline corresponding with the global economic disruptions; net income turned negative starting from March 2020, reaching the lowest point of -430 million US$ in June 2020. Recovery phases were visible from mid-2021 onwards, with net income steadily increasing and reaching new highs by the end of 2023 and mid-2024, indicating a robust rebound in profitability.
- Total Assets Overview
- Total assets showed moderate fluctuations with a general stability trend across the entire period. The asset base grew slightly from just under 15,000 million US$ at the beginning of 2019 to a peak near 17,126 million US$ in mid-2020. This peak corresponds with the time of net income losses, hinting at potential asset management or strategic adjustments during the economic downturn. Subsequently, total assets slightly decreased and stabilized within a narrow range around 15,000 to 16,000 million US$ through 2021 to mid-2024.
- Return on Assets (ROA) Dynamics
- ROA data beginning from March 2020 clearly reflects the profitability challenges experienced. ROA dropped from positive mid-single digits percentages before the pandemic to negative figures through much of 2020, reaching approximately -5.26%. From early 2021, a steady improvement in ROA was observed, aligning with recovering net income figures. By late 2023 and early 2024, ROA consistently improved, stabilizing around 7.5% to 8.7%, which demonstrates enhanced efficiency in asset utilization and operational recovery.
- Overall Insights
- The confluence of net income, asset base, and ROA trends indicates the company experienced a significant impact from external economic factors around early 2020, followed by a gradual but sustained recovery. While total assets remained relatively stable post-peak, profitability and asset efficiency metrics returned to and surpassed pre-crisis levels by 2023-2024. This pattern suggests effective cost control, operational improvements, or favorable market conditions contributing to financial health restoration.