Return on Equity (ROE)
since 2005
Calculation
Hubbell Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to Hubbell Incorporated1 | ÷ | Total Hubbell Incorporated shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 23.12% | = | 100 | × | 545,900) | ÷ | 2,360,900) |
| Dec 31, 2021 | 17.92% | = | 100 | × | 399,500) | ÷ | 2,229,800) |
| Dec 31, 2020 | 16.97% | = | 100 | × | 351,200) | ÷ | 2,070,000) |
| Dec 31, 2019 | 20.59% | = | 100 | × | 400,900) | ÷ | 1,947,100) |
| Dec 31, 2018 | 20.23% | = | 100 | × | 360,200) | ÷ | 1,780,600) |
| Dec 31, 2017 | 14.88% | = | 100 | × | 243,100) | ÷ | 1,634,200) |
| Dec 31, 2016 | 18.40% | = | 100 | × | 293,000) | ÷ | 1,592,800) |
| Dec 31, 2015 | 15.93% | = | 100 | × | 277,300) | ÷ | 1,740,600) |
| Dec 31, 2014 | 16.88% | = | 100 | × | 325,300) | ÷ | 1,927,100) |
| Dec 31, 2013 | 17.13% | = | 100 | × | 326,500) | ÷ | 1,906,400) |
| Dec 31, 2012 | 18.04% | = | 100 | × | 299,700) | ÷ | 1,661,200) |
| Dec 31, 2011 | 18.25% | = | 100 | × | 267,900) | ÷ | 1,467,800) |
| Dec 31, 2010 | 14.88% | = | 100 | × | 217,200) | ÷ | 1,459,200) |
| Dec 31, 2009 | 13.87% | = | 100 | × | 180,100) | ÷ | 1,298,200) |
| Dec 31, 2008 | 22.09% | = | 100 | × | 222,700) | ÷ | 1,008,100) |
| Dec 31, 2007 | 19.24% | = | 100 | × | 208,300) | ÷ | 1,082,600) |
| Dec 31, 2006 | 15.57% | = | 100 | × | 158,100) | ÷ | 1,015,500) |
| Dec 31, 2005 | 16.54% | = | 100 | × | 165,100) | ÷ | 998,100) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 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), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial trajectory from 2005 to 2022 is characterized by a substantial long-term expansion in both profitability and the equity base, with Return on Equity (ROE) exhibiting cyclical fluctuations and a strong recovery in the final analysis period.
- Net Income Trends
- Net income attributable to the company grew from 165.1 million in 2005 to 545.9 million in 2022. While the overall trend is upward, the growth was non-linear, featuring notable declines in 2009 and 2017. A significant acceleration in earnings is observed between 2021 and 2022, where net income rose by approximately 36.5%, marking the highest absolute profit level in the recorded period.
- Shareholders' Equity Growth
- Total shareholders' equity experienced a consistent long-term increase, rising from 998.1 million in 2005 to 2,360.9 million in 2022. The equity base more than doubled over this timeframe. Minor contractions occurred in 2008 and 2016, but these were followed by periods of sustained growth, particularly from 2017 onward, indicating a strengthening of the company's capital position.
- Return on Equity (ROE) Analysis
- ROE demonstrated volatility, ranging from a minimum of 13.87% in 2009 to a maximum of 23.12% in 2022. A sharp decline in ROE was observed between 2008 and 2009, driven by a simultaneous decrease in net income and an increase in total equity. Following this dip, the ratio generally stabilized between 14% and 20% for over a decade. The peak ROE achieved in 2022 suggests a significant improvement in the efficiency of generating profits from shareholders' capital compared to all previous years in the series.
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Comparison to Competitors
Hubbell Inc., ROE, long-term trends, comparison to competitors
| Hubbell Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 23.12% | — | 42.25% | 14.45% | 0.62% | 29.74% | 61.86% | 7.16% |
| Dec 31, 2021 | 17.92% | — | 39.37% | 13.06% | -16.17% | 29.85% | 57.62% | 5.29% |
| Dec 31, 2020 | 16.97% | — | 19.56% | 9.44% | 16.04% | 27.23% | 113.60% | -4.88% |
| Dec 31, 2019 | 20.59% | — | 41.77% | 13.75% | -17.58% | 33.22% | 199.23% | 13.25% |
| Dec 31, 2018 | 20.23% | 3,085.55% | 43.79% | 13.32% | -72.16% | 37.21% | 361.98% | 13.70% |
| Dec 31, 2017 | 14.88% | 2,309.01% | 5.50% | 17.30% | -9.00% | 9.58% | — | 15.37% |
| Dec 31, 2016 | 18.40% | 599.14% | -0.51% | 12.90% | 11.65% | 24.83% | 350.89% | 18.33% |
| Dec 31, 2015 | 15.93% | 81.70% | 14.19% | 13.03% | -6.23% | 26.08% | 116.40% | 27.81% |
| Dec 31, 2014 | 16.88% | 62.85% | 22.06% | 11.36% | 11.89% | 24.01% | 106.29% | 19.93% |
| Dec 31, 2013 | 17.13% | 30.82% | 18.21% | 11.08% | 10.00% | 22.47% | 60.61% | 17.95% |
| Dec 31, 2012 | 18.04% | 66.47% | 32.40% | 8.07% | 11.09% | 22.55% | 7,038.46% | 19.80% |
| Dec 31, 2011 | 18.25% | 114.31% | 38.25% | 18.07% | 12.15% | 19.13% | 265.23% | 22.76% |
| Dec 31, 2010 | 14.88% | 119.56% | 24.94% | 12.62% | 9.79% | 18.96% | 78.91% | 20.45% |
| Dec 31, 2009 | 13.87% | 61.65% | 10.24% | 5.65% | 9.40% | 24.34% | 73.24% | 19.08% |
| Dec 31, 2008 | 22.09% | — | 58.44% | 16.75% | 16.63% | 38.85% | 112.29% | 29.46% |
| Dec 31, 2007 | 19.24% | 45.25% | 39.86% | 19.22% | 19.22% | 26.50% | 30.93% | 19.78% |
| Dec 31, 2006 | 15.57% | 46.74% | 51.57% | 23.14% | 18.55% | 21.43% | 36.74% | 21.58% |
| Dec 31, 2005 | 16.54% | 23.26% | 33.85% | 21.31% | 14.95% | 14.71% | 23.20% | 18.06% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 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), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Hubbell Inc., ROE, long-term trends, comparison to sector (capital goods)
| Hubbell Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2022 | 23.12% | 13.39% |
| Dec 31, 2021 | 17.92% | 8.48% |
| Dec 31, 2020 | 16.97% | 4.42% |
| Dec 31, 2019 | 20.59% | 18.11% |
| Dec 31, 2018 | 20.23% | 11.28% |
| Dec 31, 2017 | 14.88% | 10.13% |
| Dec 31, 2016 | 18.40% | 20.08% |
| Dec 31, 2015 | 15.93% | 10.42% |
| Dec 31, 2014 | 16.88% | 18.16% |
| Dec 31, 2013 | 17.13% | 15.14% |
| Dec 31, 2012 | 18.04% | 17.58% |
| Dec 31, 2011 | 18.25% | 19.63% |
| Dec 31, 2010 | 14.88% | 15.88% |
| Dec 31, 2009 | 13.87% | 13.47% |
| Dec 31, 2008 | 22.09% | 24.97% |
| Dec 31, 2007 | 19.24% | 22.64% |
| Dec 31, 2006 | 15.57% | 22.16% |
| Dec 31, 2005 | 16.54% | 17.27% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 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), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Hubbell Inc., ROE, long-term trends, comparison to industry (industrials)
| Hubbell Inc. | Industrials | |
|---|---|---|
| Dec 31, 2022 | 23.12% | 15.38% |
| Dec 31, 2021 | 17.92% | 15.38% |
| Dec 31, 2020 | 16.97% | 0.24% |
| Dec 31, 2019 | 20.59% | 14.56% |
| Dec 31, 2018 | 20.23% | 17.95% |
| Dec 31, 2017 | 14.88% | 18.24% |
| Dec 31, 2016 | 18.40% | 21.69% |
| Dec 31, 2015 | 15.93% | 16.11% |
| Dec 31, 2014 | 16.88% | 19.68% |
| Dec 31, 2013 | 17.13% | 16.40% |
| Dec 31, 2012 | 18.04% | 17.20% |
| Dec 31, 2011 | 18.25% | 20.10% |
| Dec 31, 2010 | 14.88% | 16.41% |
| Dec 31, 2009 | 13.87% | 12.84% |
| Dec 31, 2008 | 22.09% | 20.74% |
| Dec 31, 2007 | 19.24% | 20.36% |
| Dec 31, 2006 | 15.57% | 32.16% |
| Dec 31, 2005 | 16.54% | 7.80% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 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), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).