- Compute ROE for all 3 years reported on income statement.
| 2021 | 2020 | 2019 | 2018 | |
| NP | 20.878 | 14.714 | 15.119 | 15.297 |
| SE | 74,023 | 63,278 | 59,471 | 59,752 |
| ROE | 0.304 | 0.240 | 0.254 | 0.256 |
- Compute RNOA and its two components (NOPM and NOAT) for all 3 years reported on the income statement.
| 2021 | 2020 | 2019 | |
| RNOA | 0.145 | 0.099 | 0.106 |
| NOPM | 0.223 | 0.178 | 0.184 |
| NOAT | 0.649 | 0.556 | 0.577 |
2a. ROE & RNOA Differences:
- Which Year was more profitable?
- How do operating and non-operating portions of ROE compare?
- Compare ROE and RNOA with the graph in exhibit 3.8.
- Is NOPM similar for both years?
- Are NOAT ratios similar or markedly different?
- Compare the ratios of the companies; what are the differences over time?
| Vertical Analysis | ||
| 2021 | 2020 | 2019 |
| 100.00% | 100.00% | 100.00% |
| 31.84% | 34.42% | 33.58% |
| 68.16% | 65.58% | 66.42% |
| 26.30% | 26.74% | 27.03% |
| 15.69% | 14.72% | 13.84% |
| 0.96% | 0.22% | 1.08% |
| -0.06% | -0.13% | -0.44% |
| 0.20% | 0.24% | 0.39% |
| 0.52% | 3.51% | 3.08% |
| 0.27% | 0.30% | 0.32% |
| 24.29% | 19.98% | 21.12% |
| 2.02% | 2.16% | 2.69% |
| 22.26% | 17.82% | 18.42% |
| Horizontal Analysis | |
| 2021 | 2020 |
| 13.55% | 0.64% |
| 5.02% | 3.16% |
| 18.03% | -0.63% |
| 11.66% | -0.42% |
| 21.01% | 7.08% |
| 397.24% | -79.66% |
| -52.25% | -68.91% |
| -8.96% | -36.79% |
| -83.13% | 14.81% |
| 2.02% | -7.14% |
| 38.06% | -4.80% |
| 6.45% | -19.28% |
| 41.89% | -2.68% |
| Vertical Analysis | ||
| 2021 | 2020 | 2019 |
| 7.96% | 8.00% | 10.97% |
| 9.41% | 6.40% | 1.26% |
| 8.40% | 7.76% | 9.18% |
| 5.71% | 5.34% | 5.72% |
| 2.03% | 1.79% | 1.52% |
| 0.00% | 0.00% | 0.06% |
| 33.50% | 29.30% | 28.70% |
| 10.42% | 10.73% | 11.20% |
| 25.49% | 30.53% | 30.21% |
| 19.36% | 20.81% | 21.33% |
| 5.62% | 4.88% | 4.96% |
| 5.61% | 3.75% | 3.61% |
| 100.00% | 100.00% | 100.00% |
| 2.07% | 1.50% | 0.76% |
| 6.07% | 5.43% | 5.42% |
| 7.48% | 7.99% | 6.16% |
| 6.64% | 6.58% | 6.90% |
| 1.97% | 1.99% | 2.13% |
| 0.61% | 0.80% | 1.44% |
| 24.85% | 24.30% | 22.80% |
| 16.47% | 18.66% | 16.80% |
| 4.11% | 4.12% | 3.78% |
| 4.89% | 6.16% | 6.76% |
| 3.14% | 3.75% | 4.72% |
| 5.87% | 6.83% | 7.44% |
| 59.33% | 63.82% | 62.30% |
| 0.00% | 0.00% | 0.00% |
| 1.71% | 1.78% | 1.98% |
| -7.17% | -8.71% | -10.07% |
| 67.61% | 65.12% | 70.16% |
| 62.15% | 58.19% | 62.06% |
| 21.48% | 22.01% | 24.36% |
| 40.67% | 36.18% | 37.70% |
| 100.00% | 100.00% | 100.00% |
| Horizontal Analysis | |
| 2021 | 2020 |
| 3.59% | -19.19% |
| 52.87% | 465.09% |
| 12.57% | -6.25% |
| 11.16% | 3.59% |
| 18.17% | 30.94% |
| 100.00% | -100.00% |
| 19.01% | 13.17% |
| 1.04% | 6.27% |
| -13.13% | 12.09% |
| -3.15% | 8.19% |
| 19.79% | 9.14% |
| 55.68% | 15.22% |
| 4.07% | 10.88% |
| 43.14% | 118.89% |
| 16.31% | 11.25% |
| -2.55% | 43.78% |
| 5.06% | 5.79% |
| 2.93% | 3.88% |
| -20.11% | -38.57% |
| 6.43% | 18.15% |
| -8.12% | 23.18% |
| 3.78% | 21.08% |
| -17.39% | 1.01% |
| -12.90% | -11.89% |
| -10.53% | 1.79% |
| -3.24% | 13.60% |
| 100.00% | 100.00% |
| 0.00% | 0.00% |
| -14.33% | -4.08% |
| 8.05% | 2.92% |
| 11.16% | 3.96% |
| 1.58% | 0.19% |
| 16.98% | 6.40% |
| 4.07% | 10.88% |
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