Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Gross Profit Margin
- The gross profit margin demonstrates a generally positive trend from March 2019 through September 2023. Initially fluctuating around 29%, it declined steadily from 28.89% in March 2021 to a low of 27.46% in March 2022. Following this decline, the margin recovered and consistently increased, reaching 34.28% by September 2023. This indicates an improvement in the company's ability to manage production costs relative to revenue over the most recent periods.
- Operating Profit Margin
- Operating profit margin exhibits a similar upward trajectory. Starting from approximately 12.43% in March 2019, the margin maintains a stable range near 12.7% through early 2021, followed by a steady growth phase. By September 2023, the margin had increased to 18.77%. This consistent rise reflects enhanced efficiency in core operations and better control of operating expenses.
- Net Profit Margin
- Net profit margin trends upward overall, moving from around 8.04% in March 2019 to 13.22% by September 2023. There is an intermediate period of relative stability between 8% and 9% through early 2021, after which the margin shows continuous improvement. This increase signals stronger bottom-line profitability, likely driven by improved operational results and possibly non-operating factors such as tax management or financing costs.
- Return on Equity (ROE)
- The return on equity shows initial stability around 20% in 2019, but then declines gradually to approximately 16.7% by early 2021. From this point, ROE experiences a marked recovery, increasing sharply to over 25% by September 2023. This pattern suggests enhanced effectiveness in generating shareholder returns, possibly due to increased net income, better asset utilization, or financial leverage adjustments.
- Return on Assets (ROA)
- Return on assets initially fluctuates near 7.4% in 2019, dips to a low near 6.7% in early 2021, and then steadily improves to surpass 12% by September 2023. This significant uptrend indicates improved asset efficiency and profitability, reflecting the company's ability to generate earnings from its asset base more effectively over time.
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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
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 financial data reveals several important trends over the examined quarterly periods. Gross profit and net sales exhibit a generally positive trajectory with some fluctuations, while the gross profit margin shows a steady improvement, especially in the more recent quarters.
- Gross Profit
- Gross profit demonstrates variability over time, with peaks and troughs in several quarters. Between March 2018 and December 2019, gross profit oscillates but remains largely stable within a range of approximately 282,900 to 362,000 thousand US dollars. Starting in 2020, a downward trend is noticeable, with values dipping as low as 280,500 thousand in June 2020, possibly reflecting external economic pressures during that period. Notably, from March 2022 onwards, there is a pronounced rebound and substantial growth, culminating in a peak of 496,200 thousand in June 2023, followed by a slight decrease in September 2023.
- Net Sales
- Net sales follow a broadly upward trend, albeit with periods of decline. Initially, sales increase from 991,200 thousand in March 2018 to a peak near 1,204,000 thousand in September 2019. However, net sales experience a significant decline beginning in the first half of 2020, dropping to around 949,200 thousand in June 2020. Recovery begins in 2021 and continues strongly, with net sales reaching new highs at 1,375,800 thousand by September 2023. This suggests a considerable growth in sales volume or revenue generation capacity in the latter years analyzed.
- Gross Profit Margin
- The gross profit margin data, available from March 2019 onward, indicates a relatively stable percentage around 29% through 2019 and 2020, with minor fluctuations but no strong directional changes. Starting in 2021, the margin begins a gradual ascent, reaching above 30%, and accelerating markedly in 2022 and 2023, peaking at 34.28% in September 2023. This improvement suggests enhanced efficiency in production or favorable shifts in pricing strategies relative to the cost of goods sold.
In summary, the company experienced some volatility in profits and sales from 2018 through 2020, likely influenced by market dynamics affecting demand or operations. However, from 2021 onwards, both net sales and gross profit showed robust recovery and growth, with gross profit margins expanding notably. These trends point to improved operational performance and a stronger financial position in the most recent quarters.
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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
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.
- Net Sales
- Net sales demonstrated a generally increasing trend over the analyzed periods, with some fluctuations. Starting at approximately 991 million USD in March 2018, sales rose to a peak of around 1.37 billion USD by September 2023. However, there were intermittent declines, notably in 2020 during the initial impact of the global environment where quarterly sales dropped below the 1 billion USD mark before recovering steadily. Post-2020, net sales consistently grew, reaching new highs each year, indicating an overall positive growth trajectory.
- Operating Income
- Operating income exhibited notable volatility over the examined quarters. From around 99.6 million USD in March 2018, income increased to peaks near 163.8 million USD by September 2018 but then experienced significant troughs, especially during late 2019 and 2020, where it decreased to approximately 119.8 million USD in December 2020. Subsequent periods show a marked recovery and growth, with operating income reaching a peak of 287.8 million USD in June 2023 before a slight decrease in September 2023. This indicates widening profitability margins and an improvement in operational efficiency or higher volume of profitable sales in recent periods.
- Operating Profit Margin
- The operating profit margin data, available from December 2018 onward, reveals a steady upward trend. Initially around 12.43%, the margin gradually rose each quarter, reaching an impressive 18.77% by September 2023. This increasing margin suggests enhanced cost management and profitability relative to net sales. Throughout the period, the incremental margin gains show a consistent improvement in how effectively the company converts net sales into operating income, culminating in a margin expansion of over 6 percentage points within approximately five years.
- Summary of Trends and Insights
- The collective trends indicate that while net sales experienced some volatility, particularly around 2020, the company has managed significant growth recovery and expansion, both in sales and operating income. The substantial improvement in operating profit margin highlights enhanced operational efficiency and profitability. The consistent margin increase alongside rising operating income, especially in recent quarters, points to strong financial health and effective cost control strategies. These trends reflect positively on the company's capacity to adapt and grow in changing market conditions.
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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
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.
The data reveals clear developments in profitability, revenue, and efficiency across the series of quarters analyzed. There is a notable upward trend in net income attributable to the company, with values showing significant oscillations but overall growth especially pronounced in the recent periods. Net income starts at 58.3 million USD in the first quarter of 2018, reaching a high point of 206.8 million USD by the second quarter of 2023, demonstrating considerable expansion in absolute earnings.
Net sales exhibit a variable pattern with general growth over the entire timeframe. Sales begin at approximately 991.2 million USD in the first quarter of 2018 and progressively increase, peaking in the third quarter of 2023 at around 1.38 billion USD. Despite some short-term decreases and fluctuations, the overall trajectory in sales points to solid business expansion, with occasional quarterly declines likely reflecting market or seasonal factors.
The net profit margin shows a consistent improvement throughout the period where data is available, starting near 8% in early 2019 and rising steadily to exceed 13% by the third quarter of 2023. This increase in margin percentage signifies enhanced operational efficiency or improved cost management, allowing the company to convert a growing share of sales into net income. The rising margin, coupled with expanding sales and increasing net income, suggests strong financial health and effective management of profitability drivers.
Some volatility is observable in net income relative to sales, indicating periods of varying profitability despite stable or growing revenues. For instance, net income dipped in early 2020 despite sales remaining high, possibly reflecting external challenges impacting profitability. However, subsequent quarters show recovery and continued margin expansion, reinforcing resilience and capacity for sustained profit growth.
- Net Income Trend
- Overall increase from 58.3 million USD to over 200 million USD; notable peaks and troughs with stronger growth after 2020.
- Net Sales Trend
- Progressive increase from just under 1 billion USD to nearly 1.38 billion USD; some fluctuations with an underlying upward trend.
- Net Profit Margin
- Consistent growth from circa 8% to above 13%, indicating improved profitability and operational efficiency.
- Volatility and Recovery
- Periods of income variability potentially linked to external market conditions with subsequent robust recovery and margin enhancement.
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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
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.
- Net Income Trends
- The net income attributable to shareholders exhibited variability over the periods reviewed. Starting at 58.3 million USD in Q1 2018, it rose sharply to a peak of 113.6 million USD by Q3 2018 before declining to 88.0 million USD at the end of that year. In 2019, net income fluctuated, reaching a high of 130.7 million USD in Q3, followed by a decline to 101.9 million USD in Q4. The year 2020 saw a general recovery with quarterly net income values ranging mostly between 75 and 107 million USD, although the last quarter registered a lower 80.9 million USD. In 2021, net income values gradually increased, peaking at 117.6 million USD in Q4. A substantial jump occurred in Q1 2022, with net income reaching 180.2 million USD. Despite fluctuations, the company maintained relatively high net income levels through 2022 and into 2023, with a notable high of 206.8 million USD in Q2 2023, slightly easing to 200.1 million USD by Q3 2023.
- Total Shareholders’ Equity
- Shareholders’ equity showed a steady upward trend throughout the periods under review. Beginning at approximately 1.66 billion USD in Q1 2018, equity grew consistently each quarter, reaching 1.95 billion USD by Q4 2019. This upward trajectory persisted despite global market uncertainties during 2020, with equity rising to just over 2.07 billion USD by year-end. The growth momentum continued through 2021 and 2022, ending the latter year at around 2.36 billion USD. By Q3 2023, shareholders’ equity had expanded further to approximately 2.74 billion USD, reflecting sustained capital strength and retained earnings accumulation.
- Return on Equity (ROE)
- Return on equity data available from Q1 2019 onward revealed strong performance with percentages consistently exceeding 16%. After initially peaking near 20.7% in Q2 2019, ROE slightly declined toward the end of that year but remained above 16%. The early months of 2020 marked a lower point at 16.97%, followed by relatively stable returns through 2020 and 2021, fluctuating between approximately 16.7% and 17%. Notably, a substantial improvement occurred in Q1 2022, with ROE rising sharply to over 22%, peaking at 24.1% in Q3 2022, and maintaining elevated levels near 25% by Q3 2023. This suggests enhanced profitability relative to equity, possibly due to improved net income generation or equity management strategies.
- Summary of Patterns
- Overall, financial indicators demonstrate consistent growth in equity and strengthening profitability despite some fluctuations in net income. The significant increase in ROE during 2022 and 2023 points to enhanced operational efficiency or favorable market conditions improving returns on shareholders’ investments. The steady rise in shareholders’ equity highlights accumulated retained earnings and possibly an effective capital allocation policy. The trends suggest a robust financial position with improving profitability metrics over the analysis period.
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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
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.
- Net income attributable to Hubbell Incorporated
- The net income demonstrates considerable fluctuations over the period analyzed. From March 2018 to December 2018, net income increased significantly, peaking at 113,600 thousand USD in September 2018 before declining to 88,000 thousand USD at year-end. In 2019, a pattern of fluctuations is observed, with values ranging from 72,300 to 130,700 thousand USD, reaching a high in September 2019 and then falling towards December. The year 2020 started with a decline in net income compared to 2019, followed by partial recovery in the third quarter but ending lower in the final quarter. From 2021 through 2023, net income showed a more consistent upward trend, with marked increases particularly evident in the first quarter of 2022, reaching 180,200 thousand USD. Despite periodic declines within quarters, the overall trend shows substantial growth, culminating with net income exceeding 200,000 thousand USD in the latest quarters of 2023.
- Total assets
- Total assets remained relatively stable with minor fluctuations until late 2019. A slight dip is observed around December 2018 and December 2019. Starting in 2020, the total assets experienced a general upward trend, rising from approximately 4,958,100 thousand USD in March 2020 to 5,768,300 thousand USD by September 2023. This increase was gradual but steady, indicating expansion or enhanced asset acquisition over this period.
- Return on Assets (ROA)
- ROA values are available beginning from March 2019, illustrating an improving efficiency in asset utilization. Initial ROA percentages near 7.4% to 7.6% in 2019 gradually increased toward the years following. In 2020, the ROA fluctuated around 7% to 8%, showing some variability but remaining stable. Starting in 2021, a positive upward trend emerged, with ROA rising from approximately 6.9% early in the year to reach above 10% by 2022. This improvement continued into 2023, peaking at 12.02% by September, suggesting heightened profitability relative to asset base over time.
- Summary of trends
- The net income figures exhibit volatility but a long-term upward trajectory, reflecting improved earnings capacity. Simultaneously, total assets have increased steadily, implying asset growth or investments likely supporting business expansion. The ROA metric corroborates these findings, highlighting increasing efficiency in generating earnings from assets, particularly noticeable from 2021 onward. Overall, the data signals strengthening financial performance and operational effectiveness in recent years.