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Pfizer Inc. (PFE)
DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data
Low level of difficulty
Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.
Two-Component Disaggregation of ROE
Pfizer Inc., decomposition of ROE (quarterly data)
Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).
The primary reason for the increase in return on equity ratio (ROE) over Q3 2019 is the increase in profitability measured by return on assets ratio (ROA).
Three-Component Disaggregation of ROE
Pfizer Inc., decomposition of ROE (quarterly data)
Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).
The primary reason for the increase in return on equity ratio (ROE) over Q3 2019 is the increase in profitability measured by net profit margin ratio.
Two-Component Disaggregation of ROA
Pfizer Inc., decomposition of ROA (quarterly data)
Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).
The primary reason for the increase in return on assets ratio (ROA) over Q3 2019 is the increase in profitability measured by net profit margin ratio.