Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Union Pacific Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
- Operating Profit Margin
- The operating profit margin demonstrated a positive trend early in the period, increasing from 39.8% in the first quarter of 2021 to a peak of 42.9% in the first quarter of 2022. After this peak, there was a gradual decline over the subsequent quarters, reaching a low of 37.64% in the third quarter of 2023. From this point onwards, the margin showed a steady recovery, climbing back up to 40.62% by the third quarter of 2025. Overall, the margin exhibited some volatility but maintained a relatively high level throughout the period.
- Net Profit Margin
- The net profit margin followed a similar pattern to the operating profit margin, rising from 27.02% in the first quarter of 2021 to a peak of 30.06% in the first quarter of 2022. Subsequently, it declined gradually to around 26.37%-26.45% during 2023, the lowest values within the observed timeframe. The metric steadily increased thereafter, reaching 28.73% in the third quarter of 2025. This trend indicates a period of margin compression followed by recovery, though net margins remained robust overall.
- Return on Equity (ROE)
- Return on equity showed a notable upward trajectory in the early quarters, starting at 32.09% in the first quarter of 2021 and peaking at 60.21% in the third quarter of 2022. After this peak, ROE gradually declined over the next year and a half to around 39.38%-40.02% before showing minor fluctuations and settling around 40.75% by the third quarter of 2025. Despite the decline from its peak, ROE maintained a relatively high level throughout the timeframe, reflecting strong profitability relative to shareholder equity during most of the period.
- Return on Assets (ROA)
- Return on assets experienced a steady increase from 8.44% in the first quarter of 2021 to 10.82% in the third quarter of 2022. Following this peak, ROA stabilized with minor fluctuations between 9.5% and 10.27%, ending at 10.27% in the third quarter of 2025. This stability at elevated levels suggests efficient use of assets throughout the period, with a slight improvement over time.
Return on Sales
Return on Investment
Operating Profit Margin
Union Pacific Corp., operating profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Operating income | 2,549) | 2,525) | 2,371) | 2,525) | 2,416) | 2,400) | 2,372) | 2,407) | 2,177) | 2,204) | 2,294) | 2,412) | 2,633) | 2,495) | 2,377) | 2,440) | 2,432) | 2,473) | 1,993) | ||||||
| Operating revenues | 6,244) | 6,154) | 6,027) | 6,121) | 6,091) | 6,007) | 6,031) | 6,159) | 5,941) | 5,963) | 6,056) | 6,180) | 6,566) | 6,269) | 5,860) | 5,733) | 5,566) | 5,504) | 5,001) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | 40.62% | 40.33% | 40.06% | 40.05% | 39.51% | 38.76% | 38.02% | 37.65% | 37.64% | 38.53% | 39.22% | 39.87% | 40.71% | 41.59% | 42.90% | 42.83% | 41.98% | 41.35% | 39.80% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| FedEx Corp. | 5.67% | 5.64% | 5.88% | 6.34% | 6.29% | 6.03% | 5.88% | 5.45% | 5.76% | 5.97% | 6.37% | 6.68% | 6.67% | 6.47% | 6.54% | 6.98% | 5.76% | 5.27% | 4.24% | ||||||
| Uber Technologies Inc. | 9.19% | 9.53% | 8.49% | 6.36% | 6.39% | 5.03% | 4.00% | 2.98% | 0.88% | -1.64% | -4.76% | -5.75% | -7.71% | -9.07% | -13.04% | -21.97% | -28.04% | -36.73% | -47.47% | ||||||
| United Airlines Holdings Inc. | 8.27% | 8.62% | 9.71% | 8.93% | 8.20% | 8.56% | 7.94% | 7.84% | 8.74% | 8.47% | 7.52% | 5.20% | 1.35% | 0.37% | -3.51% | -4.15% | -13.85% | -37.01% | -63.87% | ||||||
| United Parcel Service Inc. | 9.18% | 9.30% | 9.37% | 9.30% | 8.84% | 8.24% | 9.15% | 10.05% | 10.59% | 12.09% | 12.52% | 13.05% | 13.64% | 13.56% | 13.46% | 13.17% | 11.60% | 11.27% | 10.48% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
1 Q3 2025 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2025
+ Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024)
÷ (Operating revenuesQ3 2025
+ Operating revenuesQ2 2025
+ Operating revenuesQ1 2025
+ Operating revenuesQ4 2024)
= 100 × (2,549 + 2,525 + 2,371 + 2,525)
÷ (6,244 + 6,154 + 6,027 + 6,121)
= 40.62%
2 Click competitor name to see calculations.
- Operating Income
- Operating income demonstrated fluctuations throughout the observed periods. It increased from 1,993 million US dollars in the first quarter of 2021 to reach a peak of 2,633 million US dollars by the third quarter of 2022. Subsequently, it experienced some volatility with decreases and slight recoveries, settling around 2,549 million US dollars in the third quarter of 2025. The general trend indicates a growth phase through mid-2022 followed by relatively stable but slightly variable outcomes.
- Operating Revenues
- Operating revenues showed a steady upward trajectory in the early part of the timeline, rising from 5,001 million US dollars in the first quarter of 2021 to a high of 6,566 million US dollars by the third quarter of 2022. After this peak, revenues dipped in the fourth quarter of 2022 but largely stabilized around the 6,000 to 6,200 million US dollar range thereafter. This suggests a period of expansion followed by a plateau with minor fluctuations.
- Operating Profit Margin
- The operating profit margin began at 39.8% in the first quarter of 2021 and increased steadily to a peak of 42.9% by the first quarter of 2022. Following this, there was a gradual decline to a low of 37.64% in the third quarter of 2023. From this low point, the margin showed a recovery trend, increasing back to approximately 40.62% by the third quarter of 2025. Overall, the margin exhibited cyclic behavior with a peak in early 2022, a trough around late 2023, and partial recovery thereafter.
- Summary of Trends and Insights
- The company’s financial performance reflects several phases over the specified quarters. Initially, both operating income and revenues grew steadily up until mid-2022, indicating expansion and increased business activity. After this period, revenues and operating income plateaued and experienced minor volatility, suggesting possible market or operational challenges limiting further growth. Meanwhile, the operating profit margin showed an early increase, signifying improved profitability, followed by a notable decline and subsequent recovery. This cyclical pattern in profitability margins might be influenced by changes in cost structures, pricing strategies, or external economic factors. Despite fluctuations, the operating profit margin remained near 40% or above for most of the periods, underscoring sustained operational efficiency overall.
Net Profit Margin
Union Pacific Corp., net profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income | 1,788) | 1,876) | 1,626) | 1,762) | 1,671) | 1,673) | 1,641) | 1,652) | 1,528) | 1,569) | 1,630) | 1,638) | 1,895) | 1,835) | 1,630) | 1,711) | 1,673) | 1,798) | 1,341) | ||||||
| Operating revenues | 6,244) | 6,154) | 6,027) | 6,121) | 6,091) | 6,007) | 6,031) | 6,159) | 5,941) | 5,963) | 6,056) | 6,180) | 6,566) | 6,269) | 5,860) | 5,733) | 5,566) | 5,504) | 5,001) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | 28.73% | 28.43% | 27.77% | 27.82% | 27.33% | 26.90% | 26.52% | 26.45% | 26.37% | 27.18% | 27.91% | 28.13% | 28.95% | 29.23% | 30.06% | 29.92% | 29.19% | 28.60% | 27.02% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| FedEx Corp. | 4.46% | 4.45% | 4.62% | 4.94% | 5.02% | 4.87% | 4.71% | 4.41% | 3.23% | 3.54% | 3.79% | 4.09% | 5.60% | 5.49% | 5.88% | 6.23% | 3.85% | 3.28% | 2.50% | ||||||
| Uber Technologies Inc. | 33.54% | 26.68% | 27.07% | 22.41% | 10.49% | 5.02% | 3.60% | 5.06% | 2.93% | -1.07% | -9.95% | -28.68% | -30.45% | -39.39% | -29.52% | -2.84% | -15.87% | -7.97% | -36.50% | ||||||
| United Airlines Holdings Inc. | 5.64% | 5.71% | 6.34% | 5.52% | 4.94% | 5.28% | 4.90% | 4.87% | 5.45% | 5.24% | 3.93% | 1.64% | -1.85% | -3.43% | -6.85% | -7.97% | -16.19% | -37.89% | -63.43% | ||||||
| United Parcel Service Inc. | 6.15% | 6.34% | 6.44% | 6.35% | 6.25% | 5.87% | 6.60% | 7.37% | 9.19% | 10.41% | 10.90% | 11.51% | 11.07% | 10.92% | 10.90% | 13.25% | 6.83% | 6.57% | 5.78% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
1 Q3 2025 Calculation
Net profit margin = 100
× (Net incomeQ3 2025
+ Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024)
÷ (Operating revenuesQ3 2025
+ Operating revenuesQ2 2025
+ Operating revenuesQ1 2025
+ Operating revenuesQ4 2024)
= 100 × (1,788 + 1,876 + 1,626 + 1,762)
÷ (6,244 + 6,154 + 6,027 + 6,121)
= 28.73%
2 Click competitor name to see calculations.
- Net Income Trends
- Net income exhibited a generally fluctuating pattern over the observed quarters. Starting at 1,341 million USD in March 2021, it peaked at 1,895 million USD in September 2022 before declining to 1,528 million USD in September 2023. Thereafter, net income showed a recovery trend reaching 1,876 million USD by September 2025. This reflects periods of both growth and contraction, with the most recent data indicating a positive trajectory.
- Operating Revenues Patterns
- Operating revenues increased from 5,001 million USD in March 2021 to a high of 6,566 million USD in September 2022. However, a decline followed, with revenues dropping to 5,941 million USD by September 2023. Revenues then stabilized and experienced moderate growth, reaching 6,244 million USD in September 2025. This indicates some volatility with a general recovery after a downward phase.
- Net Profit Margin Behavior
- The net profit margin held steady at relatively high levels throughout the periods, starting at 27.02% in March 2021 and peaking near 30.06% in March 2022. After a gradual decline through 2023, where margins fell to around 26.37%, it rebounded to 28.73% by September 2025. The range between approximately 26% to 30% suggests consistent profitability with slight margin compression and subsequent recovery over time.
- Overall Insights
- The financial data reveals a cycle of expansion and contraction in both net income and operating revenues, accompanied by stable profitability margins. Revenue and income peaks around late 2022 were followed by declines in 2023, but both metrics have shown signs of growth and improvement into 2025. The net profit margin's stability highlights the company's ability to maintain profitability despite fluctuations in revenue and income.
Return on Equity (ROE)
Union Pacific Corp., ROE calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income | 1,788) | 1,876) | 1,626) | 1,762) | 1,671) | 1,673) | 1,641) | 1,652) | 1,528) | 1,569) | 1,630) | 1,638) | 1,895) | 1,835) | 1,630) | 1,711) | 1,673) | 1,798) | 1,341) | ||||||
| Common shareholders’ equity | 17,304) | 16,258) | 16,039) | 16,890) | 16,584) | 16,489) | 15,665) | 14,788) | 14,004) | 13,194) | 12,454) | 12,163) | 11,743) | 12,710) | 11,897) | 14,161) | 13,917) | 14,303) | 16,254) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | 40.75% | 42.66% | 41.97% | 39.95% | 40.02% | 39.38% | 40.79% | 43.14% | 45.45% | 51.02% | 56.19% | 57.54% | 60.21% | 53.89% | 57.26% | 46.06% | 44.49% | 41.12% | 32.09% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| FedEx Corp. | 14.67% | 14.69% | 14.89% | 15.70% | 16.66% | 16.02% | 15.73% | 15.23% | 12.10% | 13.82% | 14.28% | 15.34% | 20.94% | 19.71% | 20.96% | 21.64% | 13.78% | 11.65% | 9.18% | ||||||
| Uber Technologies Inc. | 59.15% | 55.87% | 55.91% | 45.72% | 29.78% | 16.28% | 12.57% | 16.77% | 11.26% | -4.31% | -44.86% | -124.54% | -141.59% | -151.07% | -70.86% | -3.43% | -16.91% | -7.20% | -28.97% | ||||||
| United Airlines Holdings Inc. | 23.02% | 24.75% | 29.01% | 24.84% | 24.17% | 27.89% | 29.26% | 28.08% | 32.32% | 34.60% | 28.79% | 10.69% | -15.35% | -30.80% | -54.75% | -39.05% | -59.20% | -112.74% | -129.12% | ||||||
| United Parcel Service Inc. | 34.77% | 36.38% | 37.39% | 34.59% | 33.61% | 30.85% | 35.05% | 38.76% | 44.64% | 50.02% | 53.80% | 58.36% | 65.94% | 67.12% | 69.80% | 90.44% | 53.57% | 56.25% | 72.34% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
1 Q3 2025 Calculation
ROE = 100
× (Net incomeQ3 2025
+ Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024)
÷ Common shareholders’ equity
= 100 × (1,788 + 1,876 + 1,626 + 1,762)
÷ 17,304 = 40.75%
2 Click competitor name to see calculations.
- Net Income
- The net income showed a fluctuating yet generally stable trend across the observed periods. Starting at 1,341 million US dollars, it increased significantly to a peak of 1,895 million in the third quarter of 2022. Subsequently, it experienced a decline toward the end of 2022, reaching 1,638 million. The first quarter of 2023 reflected a slight decrease compared to the end of the previous year, followed by some variability with the lowest point of 1,528 million in the third quarter of 2023. From late 2023 through 2025, net income recovered and showed an upward trend, reaching 1,876 million in the second quarter of 2025.
- Common Shareholders' Equity
- Common shareholders' equity demonstrated a downward trend during the initial periods, slipping from 16,254 million US dollars in the first quarter of 2021 to a low of 11,743 million in the third quarter of 2022. Afterward, a steady increase ensued, with equity levels rising consistently through 2023 and 2024, peaking at 16,890 million in the second quarter of 2025. This recovery indicates a restoration of the equity base following earlier declines.
- Return on Equity (ROE)
- ROE displayed high fluctuation during the initial quarters, starting at 32.09% and climbing steadily to reach a peak above 60% in late 2022. Following this peak, there was a clear downward trend in ROE, declining progressively through 2023 and 2024 to approximately 39%-40% by the end of 2024. In 2025, ROE stabilized somewhat, fluctuating between 40% and 43%, suggesting a return to more moderate profitability on equity. This pattern reflects initial strong profitability that tapered off, aligning with changes in net income and equity levels.
- Overall Observations
- The data reflects a period of early growth and strong profitability, seen in rising net income and ROE, countered by a weakening equity base. This was followed by a phase of recovery and stabilization, with equity gradually increasing and ROE normalizing to sustainable levels. The interplay between these metrics suggests effective management of profitability and equity over time, with cyclical variations potentially influenced by external economic conditions or company-specific factors.
Return on Assets (ROA)
Union Pacific Corp., ROA calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income | 1,788) | 1,876) | 1,626) | 1,762) | 1,671) | 1,673) | 1,641) | 1,652) | 1,528) | 1,569) | 1,630) | 1,638) | 1,895) | 1,835) | 1,630) | 1,711) | 1,673) | 1,798) | 1,341) | ||||||
| Total assets | 68,647) | 68,576) | 68,492) | 67,715) | 67,570) | 67,817) | 67,266) | 67,132) | 66,540) | 66,033) | 65,968) | 65,449) | 65,343) | 64,440) | 64,051) | 63,525) | 62,360) | 62,073) | 61,793) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | 10.27% | 10.11% | 9.83% | 9.96% | 9.82% | 9.58% | 9.50% | 9.50% | 9.57% | 10.19% | 10.61% | 10.69% | 10.82% | 10.63% | 10.64% | 10.27% | 9.93% | 9.48% | 8.44% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| FedEx Corp. | 4.61% | 4.55% | 4.67% | 4.98% | 5.10% | 4.87% | 4.77% | 4.56% | 3.49% | 3.89% | 4.18% | 4.45% | 6.11% | 5.84% | 6.21% | 6.32% | 3.66% | 3.02% | 2.30% | ||||||
| Uber Technologies Inc. | 26.27% | 22.55% | 23.26% | 19.23% | 9.34% | 4.84% | 3.51% | 4.88% | 2.93% | -1.09% | -10.38% | -28.47% | -28.43% | -32.45% | -19.26% | -1.28% | -6.39% | -2.82% | -11.37% | ||||||
| United Airlines Holdings Inc. | 4.32% | 4.29% | 4.81% | 4.25% | 3.81% | 4.01% | 3.74% | 3.68% | 3.91% | 3.64% | 2.73% | 1.09% | -1.09% | -1.73% | -2.87% | -2.88% | -4.64% | -7.78% | -10.90% | ||||||
| United Parcel Service Inc. | 7.71% | 8.08% | 8.55% | 8.25% | 8.30% | 7.57% | 8.76% | 9.47% | 12.17% | 14.23% | 14.93% | 16.24% | 16.09% | 15.60% | 15.35% | 18.57% | 9.81% | 9.37% | 8.17% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
1 Q3 2025 Calculation
ROA = 100
× (Net incomeQ3 2025
+ Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024)
÷ Total assets
= 100 × (1,788 + 1,876 + 1,626 + 1,762)
÷ 68,647 = 10.27%
2 Click competitor name to see calculations.
The financial data reveals several notable trends in the company's quarterly performance and asset base over the observed periods. Net income exhibited fluctuations, with an initial increase from 1,341 million to a peak of 1,895 million during late 2022, followed by some variability around the 1,600 to 1,700 million range in subsequent quarters, and a generalized upward trend toward the end of the dataset, reaching 1,788 million by the first quarter of 2025.
Total assets demonstrated a consistent incremental growth over the quarters. Starting from 61,793 million, assets steadily increased each quarter, crossing the 68,000 million mark by the middle of 2025. The gradual but steady rise in total assets suggests ongoing investments or asset accumulation strategies.
The Return on Assets (ROA) percentage indicates an overall solid profitability relative to the asset base, starting from 8.44% and rising to a peak of 10.82% in late 2022. Post this peak, ROA showed a modest decline, stabilizing mostly between 9.5% and 10.3% in the later periods. This range implies a stable efficiency in asset utilization despite fluctuations in net income.
- Net Income Trends
- Initial growth occurred through 2021 and early 2022, reaching a high in the third quarter of 2022. This was followed by a period of moderate volatility but with no drastic declines, concluding with an upward push in early 2025.
- Total Asset Growth
- Assets grew steadily and consistently, reflecting ongoing asset accumulation without any periods of significant contraction. The growth trajectory indicates a likely focus on expanding the company's balance sheet and possibly investment in capital assets or long-term holdings.
- Return on Assets (ROA) Insights
- ROA improved notably until late 2022, peaking above 10.8%, indicating increased operational efficiency or profitability relative to assets. Although it slightly declined thereafter, it remained within a tight range close to or above 9.5%, signaling sustainable profitability levels despite minor net income fluctuations.