Stock Analysis on Net
Stock Analysis on Net

Netflix Inc. (NASDAQ:NFLX)

デュポン分析: ROE、ROA、純利益率の内訳 
四半期データ

Microsoft Excel

ROE分解では、純利益を株主資本で割ったものを構成比率の積として表します。

ROEを2つのコンポーネントに分解

Netflix Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = ROA × 財務レバレッジ比率
2023/12/31 26.27% = 11.10% × 2.37
2023/09/30 20.47% = 9.14% × 2.24
2023/06/30 18.60% = 8.36% × 2.23
2023/03/31 19.24% = 8.49% × 2.27
2022/12/31 21.62% = 9.24% × 2.34
2022/09/30 24.57% = 10.61% × 2.32
2022/06/30 26.71% = 10.99% × 2.43
2022/03/31 28.54% = 11.05% × 2.58
2021/12/31 32.28% = 11.48% × 2.81
2021/09/30 32.98% = 11.82% × 2.79
2021/06/30 31.68% = 10.72% × 2.96
2021/03/31 29.18% = 9.37% × 3.11
2020/12/31 24.96% = 7.03% × 3.55
2020/09/30 27.16% = 7.27% × 3.74
2020/06/30 28.73% = 7.21% × 3.98
2020/03/31 26.54% = 6.37% × 4.17
2019/12/31 24.62% = 5.49% × 4.48
2019/09/30 — = — × 4.51
2019/06/30 — = — × 4.94
2019/03/31 — = — × 4.77

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の株主資本利益率(ROE)が上昇した主な理由は、総資産利益率(ROA)で測定した収益性の向上です。

ROEを3つの要素に分解

Netflix Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 純利益率 × 資産回転率 × 財務レバレッジ比率
2023/12/31 26.27% = 16.04% × 0.69 × 2.37
2023/09/30 20.47% = 13.82% × 0.66 × 2.24
2023/06/30 18.60% = 13.22% × 0.63 × 2.23
2023/03/31 19.24% = 13.16% × 0.64 × 2.27
2022/12/31 21.62% = 14.21% × 0.65 × 2.34
2022/09/30 24.57% = 16.03% × 0.66 × 2.32
2022/06/30 26.71% = 16.42% × 0.67 × 2.43
2022/03/31 28.54% = 16.47% × 0.67 × 2.58
2021/12/31 32.28% = 17.23% × 0.67 × 2.81
2021/09/30 32.98% = 17.64% × 0.67 × 2.79
2021/06/30 31.68% = 15.92% × 0.67 × 2.96
2021/03/31 29.18% = 14.24% × 0.66 × 3.11
2020/12/31 24.96% = 11.05% × 0.64 × 3.55
2020/09/30 27.16% = 11.78% × 0.62 × 3.74
2020/06/30 28.73% = 11.85% × 0.61 × 3.98
2020/03/31 26.54% = 10.43% × 0.61 × 4.17
2019/12/31 24.62% = 9.26% × 0.59 × 4.48
2019/09/30 — = — × — × 4.51
2019/06/30 — = — × — × 4.94
2019/03/31 — = — × — × 4.77

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の株主資本利益率(ROE)が増加した主な理由は、純利益率で測定される収益性の向上です。

ROEを5つの要素に分解

Netflix Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 税負担 × 利息負担 × EBITマージン × 資産回転率 × 財務レバレッジ比率
2023/12/31 26.27% = 0.87 × 0.90 × 20.48% × 0.69 × 2.37
2023/09/30 20.47% = 0.89 × 0.88 × 17.69% × 0.66 × 2.24
2023/06/30 18.60% = 0.88 × 0.87 × 17.12% × 0.63 × 2.23
2023/03/31 19.24% = 0.88 × 0.87 × 17.07% × 0.64 × 2.27
2022/12/31 21.62% = 0.85 × 0.88 × 18.88% × 0.65 × 2.34
2022/09/30 24.57% = 0.87 × 0.89 × 20.65% × 0.66 × 2.32
2022/06/30 26.71% = 0.88 × 0.89 × 21.13% × 0.67 × 2.43
2022/03/31 28.54% = 0.87 × 0.88 × 21.52% × 0.67 × 2.58
2021/12/31 32.28% = 0.88 × 0.88 × 22.24% × 0.67 × 2.81
2021/09/30 32.98% = 0.87 × 0.88 × 22.94% × 0.67 × 2.79
2021/06/30 31.68% = 0.88 × 0.86 × 20.94% × 0.67 × 2.96
2021/03/31 29.18% = 0.85 × 0.85 × 19.76% × 0.66 × 3.11
2020/12/31 24.96% = 0.86 × 0.81 × 15.87% × 0.64 × 3.55
2020/09/30 27.16% = 0.99 × 0.79 × 15.07% × 0.62 × 3.74
2020/06/30 28.73% = 0.90 × 0.81 × 16.37% × 0.61 × 3.98
2020/03/31 26.54% = 0.91 × 0.78 × 14.64% × 0.61 × 4.17
2019/12/31 24.62% = 0.91 × 0.77 × 13.34% × 0.59 × 4.48
2019/09/30 — = — × — × — × — × 4.51
2019/06/30 — = — × — × — × — × 4.94
2019/03/31 — = — × — × — × — × 4.77

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の株主資本利益率(ROE)が増加した主な理由は、EBITマージン率で測定される営業利益率の増加です。

ROAを2つのコンポーネントに分解

Netflix Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 純利益率 × 資産回転率
2023/12/31 11.10% = 16.04% × 0.69
2023/09/30 9.14% = 13.82% × 0.66
2023/06/30 8.36% = 13.22% × 0.63
2023/03/31 8.49% = 13.16% × 0.64
2022/12/31 9.24% = 14.21% × 0.65
2022/09/30 10.61% = 16.03% × 0.66
2022/06/30 10.99% = 16.42% × 0.67
2022/03/31 11.05% = 16.47% × 0.67
2021/12/31 11.48% = 17.23% × 0.67
2021/09/30 11.82% = 17.64% × 0.67
2021/06/30 10.72% = 15.92% × 0.67
2021/03/31 9.37% = 14.24% × 0.66
2020/12/31 7.03% = 11.05% × 0.64
2020/09/30 7.27% = 11.78% × 0.62
2020/06/30 7.21% = 11.85% × 0.61
2020/03/31 6.37% = 10.43% × 0.61
2019/12/31 5.49% = 9.26% × 0.59
2019/09/30 — = — × —
2019/06/30 — = — × —
2019/03/31 — = — × —

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の総資産利益率(ROA)が上昇した主な理由は、純利益率で測定した収益性の向上です。

ROAを4つの要素に分解

Netflix Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 税負担 × 利息負担 × EBITマージン × 資産回転率
2023/12/31 11.10% = 0.87 × 0.90 × 20.48% × 0.69
2023/09/30 9.14% = 0.89 × 0.88 × 17.69% × 0.66
2023/06/30 8.36% = 0.88 × 0.87 × 17.12% × 0.63
2023/03/31 8.49% = 0.88 × 0.87 × 17.07% × 0.64
2022/12/31 9.24% = 0.85 × 0.88 × 18.88% × 0.65
2022/09/30 10.61% = 0.87 × 0.89 × 20.65% × 0.66
2022/06/30 10.99% = 0.88 × 0.89 × 21.13% × 0.67
2022/03/31 11.05% = 0.87 × 0.88 × 21.52% × 0.67
2021/12/31 11.48% = 0.88 × 0.88 × 22.24% × 0.67
2021/09/30 11.82% = 0.87 × 0.88 × 22.94% × 0.67
2021/06/30 10.72% = 0.88 × 0.86 × 20.94% × 0.67
2021/03/31 9.37% = 0.85 × 0.85 × 19.76% × 0.66
2020/12/31 7.03% = 0.86 × 0.81 × 15.87% × 0.64
2020/09/30 7.27% = 0.99 × 0.79 × 15.07% × 0.62
2020/06/30 7.21% = 0.90 × 0.81 × 16.37% × 0.61
2020/03/31 6.37% = 0.91 × 0.78 × 14.64% × 0.61
2019/12/31 5.49% = 0.91 × 0.77 × 13.34% × 0.59
2019/09/30 — = — × — × — × —
2019/06/30 — = — × — × — × —
2019/03/31 — = — × — × — × —

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の総資産利益率(ROA)が上昇した主な理由は、EBITマージン率で測定した営業利益率の増加です。

純利益率の分解

Netflix Inc.、純利益率の分解(四半期データ)

Microsoft Excel
純利益率 = 税負担 × 利息負担 × EBITマージン
2023/12/31 16.04% = 0.87 × 0.90 × 20.48%
2023/09/30 13.82% = 0.89 × 0.88 × 17.69%
2023/06/30 13.22% = 0.88 × 0.87 × 17.12%
2023/03/31 13.16% = 0.88 × 0.87 × 17.07%
2022/12/31 14.21% = 0.85 × 0.88 × 18.88%
2022/09/30 16.03% = 0.87 × 0.89 × 20.65%
2022/06/30 16.42% = 0.88 × 0.89 × 21.13%
2022/03/31 16.47% = 0.87 × 0.88 × 21.52%
2021/12/31 17.23% = 0.88 × 0.88 × 22.24%
2021/09/30 17.64% = 0.87 × 0.88 × 22.94%
2021/06/30 15.92% = 0.88 × 0.86 × 20.94%
2021/03/31 14.24% = 0.85 × 0.85 × 19.76%
2020/12/31 11.05% = 0.86 × 0.81 × 15.87%
2020/09/30 11.78% = 0.99 × 0.79 × 15.07%
2020/06/30 11.85% = 0.90 × 0.81 × 16.37%
2020/03/31 10.43% = 0.91 × 0.78 × 14.64%
2019/12/31 9.26% = 0.91 × 0.77 × 13.34%
2019/09/30 — = — × — × —
2019/06/30 — = — × — × —
2019/03/31 — = — × — × —

レポートに基づく: 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31), 10-K (報告日: 2019-12-31), 10-Q (報告日: 2019-09-30), 10-Q (報告日: 2019-06-30), 10-Q (報告日: 2019-03-31).

2023年第4 四半期の純利益率が上昇した主な理由は、EBITマージン率で測定した営業利益率の増加です。