Monsanto Co. (NYSE:MON)

The analysis of the financial data reveals several notable trends and fluctuations over the examined period.

Net Income Attributable to Monsanto Company

The net income shows a generally upward trend from 2005 to 2014, increasing markedly from $255 million in 2005 to a peak of $2,740 million in 2014. This represents a considerable growth in profitability over the decade. However, after reaching this peak, a noticeable decline occurs in 2015 with net income falling to $2,314 million, followed by a sharper decrease to $1,336 million in 2016. In 2017, net income partially recovers, rising to $2,260 million, though it does not match the peak levels of 2013–2014.

Total Monsanto Company Shareowners’ Equity

Shareowners’ equity increased steadily from 2005 through 2013, growing from $5,613 million to a high of $12,559 million. This upward trajectory suggests consistent growth in the company's equity base during this period. Post-2013, there is a significant contraction in equity, with values declining sharply to $7,875 million in 2014, and further dropping to $4,534 million by 2016. In 2017, there is a moderate recovery to $6,438 million, yet equity remains well below the pre-2014 levels.

Return on Equity (ROE)

ROE exhibits variability but with an overall rising pattern. Starting at 4.54% in 2005, it climbs to a high of 21.59% in 2008 and stabilizes around the high teens to low twenties for several subsequent years. A remarkable spike occurs in 2013 (34.79%), followed by a slight decline but maintaining elevated levels in 2014 (33.10%), 2015 (29.47%), and culminating at 35.10% in 2017. The high ROE levels during the latter years indicate strong profitability relative to the equity base despite the contraction in total equity.

In summary, the company experienced robust growth in net income and equity through the early 2000s to the early 2010s, reaching peak profitability and equity levels around 2013–2014. Subsequently, the company faced a period of contraction in equity and earnings in 2015 and 2016. Nevertheless, profitability relative to equity improved significantly during the latter years, as reflected in the high and increasing ROE ratios. This suggests that the company was able to generate greater returns from a reduced equity base, highlighting improved efficiency or operational performance despite overall lower equity levels.