Analysis of Reportable Segments
Hubbell Inc. operates in 2 segments: Utility Solutions and Electrical Solutions.
Segment Profit Margin
Hubbell Inc., profit margin by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 15.26% | 12.17% | 15.51% | 14.07% | 12.96% |
| Electrical Solutions | 13.04% | 13.35% | 10.37% | 12.19% | 12.06% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Utility Solutions | Utility Solutions segment profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level. |
| Electrical Solutions | Electrical Solutions segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Profit Margin: Utility Solutions
Hubbell Inc.; Utility Solutions; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 438,200) | 284,100) | 298,200) | 276,500) | 236,100) |
| Net sales | 2,871,100) | 2,334,400) | 1,922,400) | 1,965,300) | 1,821,100) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 15.26% | 12.17% | 15.51% | 14.07% | 12.96% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 438,200 ÷ 2,871,100 = 15.26%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Utility Solutions | Utility Solutions segment profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level. |
Segment Profit Margin: Electrical Solutions
Hubbell Inc.; Electrical Solutions; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 270,900) | 248,200) | 234,800) | 320,100) | 320,800) |
| Net sales | 2,076,800) | 1,859,700) | 2,263,600) | 2,625,700) | 2,660,600) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 13.04% | 13.35% | 10.37% | 12.19% | 12.06% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 270,900 ÷ 2,076,800 = 13.04%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Electrical Solutions | Electrical Solutions segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Return on Assets (Segment ROA)
Hubbell Inc., ROA by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 14.55% | 10.06% | 11.63% | 11.51% | 9.85% |
| Electrical Solutions | 13.73% | 11.59% | 10.52% | 14.56% | 14.40% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Utility Solutions | Utility Solutions segment ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Electrical Solutions | Electrical Solutions segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment ROA: Utility Solutions
Hubbell Inc.; Utility Solutions; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 438,200) | 284,100) | 298,200) | 276,500) | 236,100) |
| Assets | 3,011,900) | 2,823,800) | 2,563,800) | 2,401,300) | 2,395,800) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.55% | 10.06% | 11.63% | 11.51% | 9.85% |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 438,200 ÷ 3,011,900 = 14.55%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Utility Solutions | Utility Solutions segment ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment ROA: Electrical Solutions
Hubbell Inc.; Electrical Solutions; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 270,900) | 248,200) | 234,800) | 320,100) | 320,800) |
| Assets | 1,972,900) | 2,142,100) | 2,233,000) | 2,197,800) | 2,228,500) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 13.73% | 11.59% | 10.52% | 14.56% | 14.40% |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 270,900 ÷ 1,972,900 = 13.73%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Electrical Solutions | Electrical Solutions segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover
Hubbell Inc., asset turnover by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 0.95 | 0.83 | 0.75 | 0.82 | 0.76 |
| Electrical Solutions | 1.05 | 0.87 | 1.01 | 1.19 | 1.19 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Utility Solutions | Utility Solutions segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Electrical Solutions | Electrical Solutions segment asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Asset Turnover: Utility Solutions
Hubbell Inc.; Utility Solutions; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 2,871,100) | 2,334,400) | 1,922,400) | 1,965,300) | 1,821,100) |
| Assets | 3,011,900) | 2,823,800) | 2,563,800) | 2,401,300) | 2,395,800) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.95 | 0.83 | 0.75 | 0.82 | 0.76 |
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).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Assets
= 2,871,100 ÷ 3,011,900 = 0.95
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Utility Solutions | Utility Solutions segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Electrical Solutions
Hubbell Inc.; Electrical Solutions; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 2,076,800) | 1,859,700) | 2,263,600) | 2,625,700) | 2,660,600) |
| Assets | 1,972,900) | 2,142,100) | 2,233,000) | 2,197,800) | 2,228,500) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.05 | 0.87 | 1.01 | 1.19 | 1.19 |
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).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Assets
= 2,076,800 ÷ 1,972,900 = 1.05
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Electrical Solutions | Electrical Solutions segment asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation
Hubbell Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 0.88 | 0.51 | 0.57 | 0.53 | 0.42 |
| Electrical Solutions | 0.80 | 0.77 | 0.53 | 0.70 | 0.86 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Utility Solutions | Utility Solutions segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Electrical Solutions | Electrical Solutions segment capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Utility Solutions
Hubbell Inc.; Utility Solutions; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 86,900) | 55,800) | 53,100) | 45,400) | 36,800) |
| Depreciation and amortization | 99,200) | 108,500) | 92,500) | 86,000) | 87,000) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.88 | 0.51 | 0.57 | 0.53 | 0.42 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 86,900 ÷ 99,200 = 0.88
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Utility Solutions | Utility Solutions segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Electrical Solutions
Hubbell Inc.; Electrical Solutions; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 39,500) | 31,100) | 34,800) | 45,800) | 53,000) |
| Depreciation and amortization | 49,300) | 40,600) | 65,100) | 65,000) | 61,400) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.80 | 0.77 | 0.53 | 0.70 | 0.86 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 39,500 ÷ 49,300 = 0.80
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Electrical Solutions | Electrical Solutions segment capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net sales
Hubbell Inc., net sales by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 2,871,100) | 2,334,400) | 1,922,400) | 1,965,300) | 1,821,100) |
| Electrical Solutions | 2,076,800) | 1,859,700) | 2,263,600) | 2,625,700) | 2,660,600) |
| Total | 4,947,900) | 4,194,100) | 4,186,000) | 4,591,000) | 4,481,700) |
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).
Operating income
Hubbell Inc., operating income by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 438,200) | 284,100) | 298,200) | 276,500) | 236,100) |
| Electrical Solutions | 270,900) | 248,200) | 234,800) | 320,100) | 320,800) |
| Total | 709,100) | 532,300) | 533,000) | 596,600) | 556,900) |
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).
Assets
Hubbell Inc., assets by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 3,011,900) | 2,823,800) | 2,563,800) | 2,401,300) | 2,395,800) |
| Electrical Solutions | 1,972,900) | 2,142,100) | 2,233,000) | 2,197,800) | 2,228,500) |
| General Corporate | 417,800) | 315,600) | 288,300) | 303,900) | 247,800) |
| Total | 5,402,600) | 5,281,500) | 5,085,100) | 4,903,000) | 4,872,100) |
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).
Capital expenditures
Hubbell Inc., capital expenditures by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 86,900) | 55,800) | 53,100) | 45,400) | 36,800) |
| Electrical Solutions | 39,500) | 31,100) | 34,800) | 45,800) | 53,000) |
| General Corporate | 2,900) | 3,300) | 500) | 2,700) | 6,400) |
| Total | 129,300) | 90,200) | 88,400) | 93,900) | 96,200) |
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).
Depreciation and amortization
Hubbell Inc., depreciation and amortization by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Utility Solutions | 99,200) | 108,500) | 92,500) | 86,000) | 87,000) |
| Electrical Solutions | 49,300) | 40,600) | 65,100) | 65,000) | 61,400) |
| Total | 148,500) | 149,100) | 157,600) | 151,000) | 148,400) |
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).