Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
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Profitability Ratios (Summary)
Hubbell Inc., profitability ratios (quarterly data)
Based on: 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 analysis of financial ratios over the observed periods reveals several key trends in profitability and efficiency metrics.
- Gross Profit Margin
- The gross profit margin exhibits an overall upward trend, starting near 29% in early 2019, with some fluctuations around that level throughout 2019 and 2020. A noticeable decline occurs in 2021 with margins dropping to below 28%, but from 2022 onwards, there is a consistent increase, reaching over 34% by the third quarter of 2023. This indicates improving cost management or pricing power in more recent periods.
- Operating Profit Margin
- The operating profit margin remains relatively stable between 12.5% and 13% from 2019 through 2021, showing minor fluctuations. Starting in 2022, a gradual improvement is observed, climbing steadily to approximately 18.8% by late 2023. This suggests enhanced operational efficiency or favorable changes in operating expenses relative to revenue.
- Net Profit Margin
- Net profit margin shows modest fluctuations around 8-9% through the initial periods, with a dip in mid-2020 possibly linked to external challenges or increased expenses. From early 2021, the margin rises notably, surpassing 11% by 2022 and continuing upward to over 13% by the third quarter of 2023. This pattern highlights growing profitability after non-operating income, taxes, and other items are accounted for.
- Return on Equity (ROE)
- ROE experienced a decline from over 20% in early 2019 to a low near 17% at the end of 2020. A recovery phase starts in 2021, with substantial improvement through 2022, peaking near 24% before a slight decrease but ending around 25% in late 2023. This indicates enhanced returns generated on shareholders’ equity, potentially reflecting higher net income or efficient capital management.
- Return on Assets (ROA)
- ROA trends mirror other profitability measures with a peak near 8.2% in late 2019, followed by a decline toward below 7% by the end of 2020. From 2021 forward, the ratio steadily rises, reaching over 12% by the third quarter of 2023. This ascent demonstrates improved asset utilization to generate earnings over time.
In summary, the company’s profitability ratios show resilience and recovery following a period of relative stability or slight weakness around 2020. Substantial improvements in margins and returns on equity and assets in 2022 and 2023 reflect enhanced operational and financial performance, suggesting effective management strategies and favorable market conditions during the later periods under review.
Return on Sales
Return on Investment
Gross Profit Margin
Hubbell Inc., gross profit margin calculation (quarterly data)
| 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 thousands) | |||||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 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 Q3 2023 Calculation
Gross profit margin = 100
× (Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023
+ Gross profitQ4 2022)
÷ (Net salesQ3 2023
+ Net salesQ2 2023
+ Net salesQ1 2023
+ Net salesQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The gross profit demonstrates a fluctuating trend with notable variation across the quarters. It initially increased from 307,300 thousand USD in March 2019 to peak at 362,000 thousand USD in September 2019, followed by a decline towards the end of 2019 and some volatility throughout 2020. A downward trend is observed during most of 2021, reaching a lower point in December 2021 at 289,900 thousand USD. Thereafter, the gross profit shows a strong recovery in 2022, advancing to 398,500 thousand USD by September 2022 before a slight dip in December 2022. The upward momentum continues markedly in 2023, with gross profit reaching a peak of 496,200 thousand USD in June 2023, and slightly decreasing to 487,400 thousand USD by September 2023.
Net sales figures show a similar pattern of fluctuation but with more pronounced decreases during 2020, likely reflecting external challenges impacting sales volumes or pricing. From a high of 1,204,000 thousand USD in September 2019, net sales dropped sharply in mid-2020 to 949,200 thousand USD in June 2020, before rebounding steadily. The sales recovered gradually through 2021 and witnessed a stronger growth phase in 2022, surpassing previous highs, with 1,316,200 thousand USD recorded in September 2022. The upward trend continues into 2023, consistently increasing quarter over quarter and reaching 1,375,800 thousand USD in September 2023.
The gross profit margin percentage provides insight into the efficiency and profitability of the company’s core operations. It remained relatively stable around 29% during 2019 and 2020, despite fluctuations in absolute gross profit and net sales. From 2021 onwards, the margin displayed a generally increasing trend, declining slightly towards the end of 2021 but recovering in 2022. The margin increased more significantly in 2023, moving from 31.45% in March 2023 to 34.28% in September 2023, indicating improved cost management or a shift in product mix favoring higher-margin offerings.
Overall, the period analyzed reveals recovery and growth phases following a downturn in 2020. The key performance indicators reflect a company adapting to changing market conditions, improving operational efficiency, and capitalizing on sales growth to enhance profitability. The strengthening gross profit margin in 2023 suggests a positive outlook for sustainable earnings improvements.
Operating Profit Margin
Hubbell Inc., operating profit margin calculation (quarterly data)
| 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 thousands) | |||||||||||||||||||||||||
| Operating income | |||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 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 Q3 2023 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2023
+ Operating incomeQ2 2023
+ Operating incomeQ1 2023
+ Operating incomeQ4 2022)
÷ (Net salesQ3 2023
+ Net salesQ2 2023
+ Net salesQ1 2023
+ Net salesQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in operating income, net sales, and operating profit margin over the period from March 2019 through September 2023.
- Operating Income
- Operating income exhibits variability across quarters but demonstrates a generally upward trajectory beginning in early 2022. Initial quarters from 2019 through 2021 show some fluctuations, with peaks in mid-2019 and late 2021. A significant increase appears starting in the first quarter of 2022, reaching a peak in the second and third quarters of 2023. Despite seasonal or cyclical dips, the latest data point in September 2023 shows operating income near its highest value in the observed timeline, indicating improved operational profitability.
- Net Sales
- Net sales data show a moderate uptrend over the entire period, with some periods of decline or stagnant growth. The earliest quarters of 2019 show relatively stable sales around the one million mark, followed by dips in mid-2020, likely influenced by external economic factors. From early 2021 onwards, net sales consistently rise, surpassing pre-2020 levels. Sales peak around mid-2023, maintaining strong performance through the latest quarter. The general trend suggests recovery and growth in sales volumes over time.
- Operating Profit Margin
- The operating profit margin remains relatively stable during 2019 and 2020, fluctuating in a narrow range around 12.6% to 12.9%. Starting in 2021, the margin shows a steady improvement quarter-over-quarter. There is a notable upward shift beginning in 2022, with margins surpassing 13% and continuing to rise sharply through 2023. By the most recent quarter, the operating profit margin reaches approximately 18.8%, reflecting enhanced efficiency or cost control measures that have significantly improved profitability relative to sales.
In summary, the company demonstrates a positive financial performance trend, highlighted by increasing net sales and operating income in recent periods. The marked improvement in operating profit margin suggests successful operational management and possibly favorable market conditions supporting higher profitability. These patterns indicate strengthening financial health as the company advances through 2022 and 2023.
Net Profit Margin
Hubbell Inc., net profit margin calculation (quarterly data)
| 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 thousands) | |||||||||||||||||||||||||
| Net income attributable to Hubbell Incorporated | |||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 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 Q3 2023 Calculation
Net profit margin = 100
× (Net income attributable to Hubbell IncorporatedQ3 2023
+ Net income attributable to Hubbell IncorporatedQ2 2023
+ Net income attributable to Hubbell IncorporatedQ1 2023
+ Net income attributable to Hubbell IncorporatedQ4 2022)
÷ (Net salesQ3 2023
+ Net salesQ2 2023
+ Net salesQ1 2023
+ Net salesQ4 2022)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income
- Net income attributable to the company demonstrated a general upward trend over the examined periods. Starting from a lower base in early 2019, net income increased markedly with some fluctuations, notably peaking at the end of the first quarter in 2023. The highest values were observed in 2023, indicating sustained profitability improvements. Despite some declines in certain quarters such as at the end of 2020 and late 2022, the overall trajectory shows increasing earnings capacity.
- Net Sales
- Net sales exhibited moderate growth over the period but displayed variability linked to economic or market conditions. After an initial rise in 2019, sales dipped during mid-2020, likely reflecting external disruptions. Starting from late 2020, there was a recovery with sales figures climbing gradually through 2021 and 2022, peaking toward the end of 2023. This suggests resilience and effective demand capture in later years, although some quarters experienced temporary slowdowns.
- Net Profit Margin
- The net profit margin consistently improved throughout the periods analyzed. Beginning around 8% in early 2019, the margin increased moderately into 2020 and then more substantially in the following years. By 2023, margins reached levels exceeding 13%, evidencing enhanced operational efficiency or better cost management. This positive trend reflects the company’s improving profitability relative to its sales.
- Overall Financial Trends and Insights
- Across all three key metrics—net income, net sales, and net profit margin—there is clear evidence of financial strengthening over the time frame. Notwithstanding some volatility corresponding with external events affecting sales volume, profitability measures have improved substantially. The rise in profit margins outpacing sales growth suggests effective expense control or higher-margin product mix. The peak net income values in 2023 align with the highest margins, indicating a period of strong financial performance.
Return on Equity (ROE)
Hubbell Inc., ROE calculation (quarterly data)
| 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 thousands) | |||||||||||||||||||||||||
| Net income attributable to Hubbell Incorporated | |||||||||||||||||||||||||
| Total Hubbell Incorporated shareholders’ equity | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 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 Q3 2023 Calculation
ROE = 100
× (Net income attributable to Hubbell IncorporatedQ3 2023
+ Net income attributable to Hubbell IncorporatedQ2 2023
+ Net income attributable to Hubbell IncorporatedQ1 2023
+ Net income attributable to Hubbell IncorporatedQ4 2022)
÷ Total Hubbell Incorporated shareholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis over multiple quarters reveals notable trends in net income, shareholders' equity, and return on equity (ROE) for the company.
- Net Income
-
Net income demonstrates considerable fluctuations over the observed periods. Starting at 72.3 million USD in the first quarter of 2019, it rose sharply to a peak of approximately 130.7 million USD by the third quarter of the same year. Following this peak, net income experienced several oscillations, with notable declines in the first and fourth quarters of 2020. From 2021 onward, a general upward trend is evident, reaching its highest levels in the first three quarters of 2023, with values exceeding 180 million USD consistently, and peaking at approximately 206.8 million USD in the second quarter of 2023. This growth indicates enhanced profitability in recent periods.
- Total Shareholders’ Equity
-
Shareholders’ equity shows a steady upward trajectory over the analyzed timeframe. Beginning at around 1.81 billion USD in early 2019, equity grew continuously through each quarter, reaching approximately 2.74 billion USD by the third quarter of 2023. This steady increase reflects ongoing capital accumulation and retention of earnings within the company, signaling strengthened financial stability and possible reinvestment strategies.
- Return on Equity (ROE)
-
The ROE percentage demonstrates some variability but remains comparatively high throughout the years. Initially recorded above 20% in early 2019, it saw a modest decline in late 2019 through 2020, dropping to a low point near 17% by the fourth quarter of 2020. Starting in 2021, ROE returned to the upper end of its previous range, rising to over 22% by the first quarter of 2022 and continuing to increase slightly through 2023, peaking at around 25.3% in the third quarter of 2023. This indicates improved efficiency in generating profits from shareholders' equity in recent quarters.
In summary, the company has experienced growth in net income and shareholders’ equity alongside an improving ROE ratio, especially pronounced in the 2022 and 2023 periods. These patterns suggest enhanced financial performance with effective utilization of equity to drive profitability gains.
Return on Assets (ROA)
Hubbell Inc., ROA calculation (quarterly data)
| 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 thousands) | |||||||||||||||||||||||||
| Net income attributable to Hubbell Incorporated | |||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 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 Q3 2023 Calculation
ROA = 100
× (Net income attributable to Hubbell IncorporatedQ3 2023
+ Net income attributable to Hubbell IncorporatedQ2 2023
+ Net income attributable to Hubbell IncorporatedQ1 2023
+ Net income attributable to Hubbell IncorporatedQ4 2022)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals discernible trends in net income, total assets, and return on assets (ROA) over the observed periods. There are notable fluctuations and general movements that provide insight into the company's operational performance and asset utilization efficiency.
- Net Income Attributable to Hubbell Incorporated
- Net income exhibited variability across the quarters, with a general upward trajectory beginning in early 2022. Initial quarters starting in March 2019 reflect sizeable earnings with some seasonal volatility. There was a dip around the fourth quarter of 2020, which might reflect external economic factors or internal challenges. However, from March 2022 onwards, net income showed substantial increases, peaking significantly in the first two quarters of 2023. The latest quarters portray the highest net income figures in the data set, indicating a period of strong profitability.
- Total Assets
- Total assets remained relatively stable with gradual growth over the timeframe, starting near 4.98 million thousand US dollars at March 2019 and advancing to approximately 5.77 million thousand US dollars by September 2023. Minor fluctuations are present, including slight decreases at times (notably in late 2019 and around 2020), but the overall trend is upward. This gradual increase in total assets suggests consistent investment or accumulation of asset base supporting the company’s activities.
- Return on Assets (ROA)
- The ROA percentages indicate efficient asset utilization improvements over time. While fluctuating mildly in early periods, the ROA generally rose from approximately 7.5% in 2019 to over 12% by the third quarter of 2023. This increase in ROA aligns with the rising net income and stable, growing assets, reflecting enhanced profitability relative to asset size. The peak ROA values in 2023 suggest that the company achieved better returns on its asset investments during this recent period.
Overall, the financial indicators suggest enhanced profitability coupled with steady asset growth. Despite some interim volatility, particularly in net income, the company appears to have improved its operational effectiveness and asset efficiency substantially by mid-2023.