Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Paying user area
Try for free
Norfolk Southern Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Norfolk Southern Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Profitability Ratios (Summary)
Norfolk Southern Corp., profitability ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Gross Profit Margin
- The gross profit margin demonstrated a downward trend starting from 78.64% on March 31, 2017, decreasing steadily to 75.41% by March 31, 2019. From that point, it fluctuated modestly but remained relatively stable, hovering around an average of approximately 76-78% through March 31, 2022. This indicates a slight erosion in gross profitability in the earlier period followed by a stabilization in recent years.
- Operating Profit Margin
- The operating profit margin remained relatively consistent between March 31, 2017, and March 31, 2019, with values mostly within a narrow range of approximately 33.99% to 35.69%. However, a notable decline occurred starting in March 31, 2020, reaching a low of about 30.08% in September 2020. Subsequently, a marked improvement was observed, with margins rising sharply and peaking at 39.91% in December 2021, before a slight decline to 39.56% by March 2022. This trend suggests operational challenges during 2020 followed by strong recovery and enhanced efficiency.
- Net Profit Margin
- The net profit margin showed high values above 50% from March 2017 to December 2017, peaking at approximately 52.82%. This figure then sharply declined starting in early 2018, stabilizing at roughly one-half of the earlier range, near 23-24% through to March 2019. The margin further decreased in 2020, reaching a low around 20%, likely reflecting impacts from external factors during that period. In 2021, a gradual recovery emerged, with margins increasing to nearly 27% in December 2021 before a slight drop to 26.58% by March 2022. Overall, net profitability experienced volatility but has shown resilience and recovery post-2020.
- Return on Equity (ROE)
- Return on equity mirrored some of the patterns observed in net profit margin. Starting with a range around 33-38% from March 2017 through December 2017, it then declined significantly, falling to approximately 13.44% by September 2020. Following this trough, there was progressive improvement through 2021, with ROE increasing to 22.55% by March 2022. This suggests initial strong equity returns diminishing substantially during the 2018-2020 period and subsequent recovery, possibly reflecting changing profitability and equity management.
- Return on Assets (ROA)
- The return on assets showed a similar trend to ROE but at lower absolute values. It started in the 15-16% range from March 2017 through December 2017, then sharply declined to a low around 5.26% by September 2020. After this period, a modest recovery occurred, resulting in ROA values near 7.7% by March 2022. This indicates a decline in asset efficiency during the 2018-2020 period, followed by a gradual improvement, in line with other profitability metrics.
Return on Sales
Return on Investment
Gross Profit Margin
Norfolk Southern Corp., gross profit margin calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Gross profit | ||||||||||||||||||||||||||||
| Railway operating revenues | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Gross profit margin = 100
× (Gross profitQ1 2022
+ Gross profitQ4 2021
+ Gross profitQ3 2021
+ Gross profitQ2 2021)
÷ (Railway operating revenuesQ1 2022
+ Railway operating revenuesQ4 2021
+ Railway operating revenuesQ3 2021
+ Railway operating revenuesQ2 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reflects several noteworthy trends in the quarterly performance over the analyzed periods. Gross profit demonstrates a generally stable pattern with some fluctuations. Starting at 1985 million USD in March 2017, it peaks at 2253 million USD in June 2019 before experiencing a significant decline in mid-2020, reaching the lowest point of 1629 million USD in June 2020. Subsequently, gross profit recovers steadily, stabilizing around the 2100 million USD mark by early 2022.
Railway operating revenues show an overall upward trajectory with seasonal variations. Beginning at 2575 million USD in March 2017, these revenues reach their highest level at 2947 million USD in September 2018. However, a marked decrease is observed during the mid-2020 period, with revenues dropping to approximately 2085 million USD in June 2020, likely correlating with external disruptions. Thereafter, the revenues gradually improve, nearing pre-decline levels and reaching 2915 million USD by March 2022.
Gross profit margin exhibits slight volatility but maintains a consistent range predominantly between 75% and 78%. The margin decreases gradually from about 78.64% in March 2017 to a trough around 75.41% in March 2019. Following this, the percentage remains relatively constant with minor quarterly variations, reaching 77.34% in March 2022. This stability suggests effective cost management relative to revenues despite fluctuations in absolute profit and revenue figures.
Overall, the data indicates resilience in core profitability and revenue generation, with a notable dip around mid-2020 likely due to external economic conditions. Recovery patterns in both revenues and gross profit post-2020 reflect adaptability and return towards previously established performance levels. Persistent gross profit margins near the high 70% range reinforce the company's ability to maintain profitability ratios even amid volume and revenue changes.
- Gross profit trends
- Stable with fluctuations; peak in mid-2019; significant decline mid-2020; recovery by early 2022.
- Revenue trends
- Overall upward with seasonal patterns; highest in late 2018; sharp drop mid-2020; gradual recovery to pre-drop levels.
- Gross profit margin
- Relatively stable between 75% and 78%; slight decrease nearing 2019; consistent recovery maintaining profitability ratios.
- Insights
- Mid-2020 period shows impact likely due to external disruptions; successful rebound observed in subsequent quarters; operational efficiency maintained.
Operating Profit Margin
Norfolk Southern Corp., operating profit margin calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Income from railway operations | ||||||||||||||||||||||||||||
| Railway operating revenues | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | ||||||||||||||||||||||||||||
| Union Pacific Corp. | ||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | ||||||||||||||||||||||||||||
| United Parcel Service Inc. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Operating profit margin = 100
× (Income from railway operationsQ1 2022
+ Income from railway operationsQ4 2021
+ Income from railway operationsQ3 2021
+ Income from railway operationsQ2 2021)
÷ (Railway operating revenuesQ1 2022
+ Railway operating revenuesQ4 2021
+ Railway operating revenuesQ3 2021
+ Railway operating revenuesQ2 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data over the examined quarters reveal various trends in operational performance and revenue generation. Income from railway operations displays some volatility across the periods, with values ranging between lower points around 568 million USD in early 2020 and higher figures exceeding 1100 million USD in several quarters of 2021. There is an evident decline in income around the first half of 2020, followed by a recovery phase and relative stabilization through 2021 and into early 2022.
Railway operating revenues show a general pattern of moderate growth with seasonal fluctuations. Starting from about 2575 million USD in the first quarter of 2017, revenues increase steadily with specific quarters reaching near or above 2900 million USD, particularly in the periods of 2018 and 2019. A significant dip is noticeable in mid-2020, coinciding with the income downturn, where revenues fall to around 2085 million USD. Post this low point, revenues exhibit a recovery trend, gradually climbing back to nearly 2915 million USD by the first quarter of 2022.
The operating profit margin, available from the fourth quarter of 2017 onward, shows resilience and an overall upward trend across the analyzed years. Initially fluctuating in the low-to-mid 30% range, the margin experiences a slight decline during 2020, reaching approximately 30%. However, from late 2020 forward, the margin improves significantly, surpassing 38% by mid-2021 and maintaining levels close to 39-40% through early 2022. This indicates an improvement in cost efficiency or pricing power despite the fluctuations in revenue and income.
- Income from Railway Operations
- Exhibited variability with a sharp decline in early 2020, likely reflecting external disruptions, followed by a recovery phase through 2021.
- Railway Operating Revenues
- Generally showed a growth trend with periodic fluctuations and a notable drop in mid-2020; subsequent recovery suggests resilience and regained market activity.
- Operating Profit Margin
- Demonstrated strong recovery post-2020 dip, indicating improved operational efficiency or margin management, maintaining robust profitability approaching 40% in recent quarters.
Net Profit Margin
Norfolk Southern Corp., net profit margin calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Railway operating revenues | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | ||||||||||||||||||||||||||||
| Union Pacific Corp. | ||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | ||||||||||||||||||||||||||||
| United Parcel Service Inc. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Net profit margin = 100
× (Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021
+ Net incomeQ2 2021)
÷ (Railway operating revenuesQ1 2022
+ Railway operating revenuesQ4 2021
+ Railway operating revenuesQ3 2021
+ Railway operating revenuesQ2 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data demonstrates various trends in the company's profitability and operational performance over the examined quarters.
- Net Income
- Net income showed considerable fluctuations throughout the observed period. Starting at 433 million USD in Q1 2017, it rose steadily to peak at 3968 million USD in Q4 2017. Subsequently, it declined sharply to lower levels around the 600-700 million USD range, displaying some volatility but generally maintaining a level between 673 and 819 million USD from Q1 2021 through Q4 2021. By Q1 2022, net income decreased slightly to 703 million USD. This pattern indicates an unusual spike in late 2017 followed by stabilization at moderate profit levels.
- Railway Operating Revenues
- The railway operating revenues depict a moderate growth trend with seasonal variations. Revenues started at 2,575 million USD in Q1 2017 and increased, reaching a peak of 2,947 million USD in Q3 2018. Subsequently, there was a noticeable decline in revenue during the mid-2020 period, falling to a low of 2,085 million USD in Q2 2020, likely reflecting adverse external factors during that time. After this trough, revenues recovered gradually, reaching 2,915 million USD by Q1 2022, which is close to the earlier peak levels, signaling a restoration of operational activity and demand.
- Net Profit Margin
- The net profit margin shows a significant variation over the quarters with a remarkable peak of above 50% around Q1 to Q4 2017, indicating exceptional profitability during that year. Following 2017, the margin dropped substantially to a stable range between approximately 20% and 27%. Margins hovered around 24% in 2019, dipped to the lower 20% range mid-2020, and then progressively improved from 2021 onwards, reaching near 27% by Q4 2021 and slightly above 26% by Q1 2022. This reflects an improvement in cost management or pricing strategies following a period of reduced profitability.
In summary, the company experienced an extraordinary net income and profit margin peak in 2017, which was not sustained in subsequent years. Operational revenues grew moderately before declining sharply in early 2020, with a recovery trend afterward. Profit margins stabilized at lower levels post-2017 except for the dip in mid-2020, ultimately showing signs of gradual improvement into early 2022.
Return on Equity (ROE)
Norfolk Southern Corp., ROE calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Stockholders’ equity | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | ||||||||||||||||||||||||||||
| Union Pacific Corp. | ||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | ||||||||||||||||||||||||||||
| United Parcel Service Inc. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
ROE = 100
× (Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021
+ Net incomeQ2 2021)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several key trends in profitability and equity metrics over the analyzed periods.
- Net Income
- Net income exhibited a general upward trend from 2017 through 2019, with a peak in the fourth quarter of 2017 where the net income reached 3,968 million US dollars, which significantly surpasses other quarters. Following this spike, the net income stabilized at a lower level ranging between approximately 650 to 720 million from 2018 through 2019. In 2020, net income showed volatility, declining sharply in the first two quarters, likely reflecting external economic factors, before recovering in the latter half of the year. In 2021 and early 2022, net income again increased to levels around 700 to 820 million USD, indicating a recovery and relatively steady profitability in these recent quarters.
- Stockholders’ Equity
- Stockholders' equity demonstrated a generally decreasing trend after peaking around the end of 2017 and early 2018. From approximately 16,300 million USD at the end of 2017, equity gradually declined, reaching near 13,461 million USD by the first quarter of 2022. This gradual reduction suggests either share repurchases, dividend payments exceeding earnings retention, or other equity utilization activities over the period. The decline in equity despite positive net income in most quarters indicates capital management strategies that reduced shareholder equity.
- Return on Equity (ROE)
- The reported ROE figures, beginning from late 2017, show high returns initially, with values exceeding 30% in the fourth quarter of 2017 and early 2018. Following that peak, ROE declined markedly through 2019 and 2020, dropping below 15% at times. This decline correlates with the reduction in net income and the steady decrease in equity. However, ROE started to improve in 2021, reaching over 22% by early 2022, reflecting improved earnings performance relative to equity, possibly due to both increased profitability and reduced equity base.
Overall, the data indicate that the company experienced a substantial earnings peak at the end of 2017, followed by normalization of income levels. The declining trend in stockholders’ equity along with recovering but moderate net income resulted in fluctuating return on equity, which has shown positive momentum in the most recent periods. The evolution in these financial indicators reflects dynamic profitability conditions and active equity management over the analyzed timeframe.
Return on Assets (ROA)
Norfolk Southern Corp., ROA calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | ||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | ||||||||||||||||||||||||||||
| Union Pacific Corp. | ||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | ||||||||||||||||||||||||||||
| United Parcel Service Inc. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
ROA = 100
× (Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021
+ Net incomeQ2 2021)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in profitability, asset management, and return on assets (ROA) across the observed periods.
- Net Income
- Net income demonstrates significant variability over the quarters. There is a pronounced peak at the end of 2017 with net income reaching 3,968 million USD, followed by a notable decline in early 2018. Subsequently, net income shows moderate fluctuations with generally lower values relative to the peak, ranging mostly between 600 and 800 million USD from 2019 through 2022. A downward trend is evident in the year 2020, likely reflecting challenging operating conditions, followed by a recovery and steadiness from late 2020 onward.
- Total Assets
- Total assets exhibit a gradual and consistent increase over time. Starting from approximately 35,145 million USD in early 2017, total assets grow steadily to reach nearly 39,361 million USD by the first quarter of 2022. The asset base expansion appears stable without abrupt changes, suggesting ongoing investments or asset acquisitions without significant disposals.
- Return on Assets (ROA)
- The metric for ROA shows some missing values during the early periods but starts providing data from late 2017. Initially, ROA is relatively high, exceeding 15%, corresponding to the large net income recorded in late 2017. Subsequently, from 2018 to 2019, ROA declines sharply to levels around 7%, reflecting lower profitability relative to asset size. ROA continues to decrease in 2020, dropping below 6%, aligning with the dip in net income. However, from mid-2020 through 2022, ROA gradually improves, reaching approximately 7.7% by the first quarter of 2022, indicating a gradual recovery and improved efficiency in asset utilization.
Overall, the financial data portrays a company that experienced a peak profit event in late 2017, followed by a period of reduced profitability and moderate growth. The asset base expanded consistently, suggesting stable capital investment. The ROA trends mirror profitability shifts and asset growth, revealing an initial decline but a steady rebound in recent quarters. This pattern may indicate strategic adjustments or improvements in operational efficiency post-2020.