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Microsoft Excel LibreOffice Calc

Home Depot Inc. (HD)


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

Difficulty: Beginner


Two-Component Disaggregation of ROE

Home Depot Inc., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Feb 3, 2019 hidden = hidden × hidden
Jan 28, 2018 hidden = hidden × hidden
Jan 29, 2017 hidden = hidden × hidden
Jan 31, 2016 hidden = hidden × hidden
Feb 1, 2015 hidden = hidden × hidden
Feb 2, 2014 hidden = hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in financial leverage ratio.


Three-Component Disaggregation of ROE

Home Depot Inc., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Feb 3, 2019 hidden = hidden × hidden × hidden
Jan 28, 2018 hidden = hidden × hidden × hidden
Jan 29, 2017 hidden = hidden × hidden × hidden
Jan 31, 2016 hidden = hidden × hidden × hidden
Feb 1, 2015 hidden = hidden × hidden × hidden
Feb 2, 2014 hidden = hidden × hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in financial leverage ratio.


Five-Component Disaggregation of ROE

Home Depot Inc., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Feb 3, 2019 hidden = hidden × hidden × hidden × hidden × hidden
Jan 28, 2018 hidden = hidden × hidden × hidden × hidden × hidden
Jan 29, 2017 hidden = hidden × hidden × hidden × hidden × hidden
Jan 31, 2016 hidden = hidden × hidden × hidden × hidden × hidden
Feb 1, 2015 hidden = hidden × hidden × hidden × hidden × hidden
Feb 2, 2014 hidden = hidden × hidden × hidden × hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

The primary reason for the decrease in return on equity ratio (ROE) over 2019 year is the decrease in financial leverage ratio.


Two-Component Disaggregation of ROA

Home Depot Inc., decomposition of ROA

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Feb 3, 2019 hidden = hidden × hidden
Jan 28, 2018 hidden = hidden × hidden
Jan 29, 2017 hidden = hidden × hidden
Jan 31, 2016 hidden = hidden × hidden
Feb 1, 2015 hidden = hidden × hidden
Feb 2, 2014 hidden = hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

The primary reason for the increase in return on assets ratio (ROA) over 2019 year is the increase in profitability measured by net profit margin ratio.


Four-Component Disaggregation of ROA

Home Depot Inc., decomposition of ROA

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Feb 3, 2019 hidden = hidden × hidden × hidden × hidden
Jan 28, 2018 hidden = hidden × hidden × hidden × hidden
Jan 29, 2017 hidden = hidden × hidden × hidden × hidden
Jan 31, 2016 hidden = hidden × hidden × hidden × hidden
Feb 1, 2015 hidden = hidden × hidden × hidden × hidden
Feb 2, 2014 hidden = hidden × hidden × hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

The primary reason for the increase in return on assets ratio (ROA) over 2019 year is the increase in effect of taxes measured by tax burden ratio.


Disaggregation of Net Profit Margin

Home Depot Inc., decomposition of net profit margin ratio

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Feb 3, 2019 hidden = hidden × hidden × hidden
Jan 28, 2018 hidden = hidden × hidden × hidden
Jan 29, 2017 hidden = hidden × hidden × hidden
Jan 31, 2016 hidden = hidden × hidden × hidden
Feb 1, 2015 hidden = hidden × hidden × hidden
Feb 2, 2014 hidden = hidden × hidden × hidden

Based on: 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27).

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