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
ROEを3つの要素に分解
ROEを5つの要素に分解
ROAを2つのコンポーネントに分解
ROAを4つの要素に分解
当期純利益率の分解

Constellation Brands Inc.、 ROE の分解(四半期データ)


	ROE	=	ROA	×	財務レバレッジ比率
2022/11/30	1.21%	=	0.41%	×	2.92
2022/08/31	1.11%	=	0.43%	×	2.59
2022/05/31	11.19%	=	4.87%	×	2.30
2022/02/28	-0.34%	=	-0.16%	×	2.20
2021/11/30	-0.47%	=	-0.21%	×	2.27
2021/08/31	6.77%	=	2.99%	×	2.26
2021/05/31	10.34%	=	4.84%	×	2.14
2021/02/28	14.69%	=	7.37%	×	1.99
2020/11/30	15.13%	=	7.29%	×	2.08
2020/08/31	9.35%	=	4.13%	×	2.26
2020/05/31	0.50%	=	0.21%	×	2.36
2020/02/29	-0.10%	=	-0.04%	×	2.25
2019/11/30	7.08%	=	3.06%	×	2.31
2019/08/31	6.79%	=	2.80%	×	2.42
2019/05/31	20.10%	=	8.45%	×	2.38
2019/02/28	27.38%	=	11.75%	×	2.33
2018/11/30	27.73%	=	11.19%	×	2.48
2018/08/31	29.37%	=	13.74%	×	2.14
2018/05/31	25.20%	=	11.52%	×	2.19
2018/02/28	28.82%	=	11.29%	×	2.55
2017/11/30	23.09%	=	9.18%	×	2.52
2017/08/31	22.20%	=	9.06%	×	2.45
2017/05/31	21.92%	=	8.54%	×	2.57
2017/02/28	22.28%	=	8.25%	×	2.70
2016/11/30	—	=	—	×	2.61
2016/08/31	—	=	—	×	2.47
2016/05/31	—	=	—	×	2.57

2023年第3 四半期に比べて株主資本利益率(ROE)が上昇した主な理由は、財務レバレッジ比率の増加です。

Constellation Brands Inc.、 ROE の分解(四半期データ)


	ROE	=	純利益率	×	資産回転率	×	財務レバレッジ比率
2022/11/30	1.21%	=	1.06%	×	0.39	×	2.92
2022/08/31	1.11%	=	1.11%	×	0.39	×	2.59
2022/05/31	11.19%	=	13.73%	×	0.35	×	2.30
2022/02/28	-0.34%	=	-0.46%	×	0.34	×	2.20
2021/11/30	-0.47%	=	-0.61%	×	0.34	×	2.27
2021/08/31	6.77%	=	8.62%	×	0.35	×	2.26
2021/05/31	10.34%	=	14.61%	×	0.33	×	2.14
2021/02/28	14.69%	=	23.19%	×	0.32	×	1.99
2020/11/30	15.13%	=	23.51%	×	0.31	×	2.08
2020/08/31	9.35%	=	13.45%	×	0.31	×	2.26
2020/05/31	0.50%	=	0.68%	×	0.31	×	2.36
2020/02/29	-0.10%	=	-0.14%	×	0.31	×	2.25
2019/11/30	7.08%	=	10.07%	×	0.30	×	2.31
2019/08/31	6.79%	=	9.40%	×	0.30	×	2.42
2019/05/31	20.10%	=	29.96%	×	0.28	×	2.38
2019/02/28	27.38%	=	42.33%	×	0.28	×	2.33
2018/11/30	27.73%	=	38.61%	×	0.29	×	2.48
2018/08/31	29.37%	=	41.84%	×	0.33	×	2.14
2018/05/31	25.20%	=	34.56%	×	0.33	×	2.19
2018/02/28	28.82%	=	30.57%	×	0.37	×	2.55
2017/11/30	23.09%	=	24.78%	×	0.37	×	2.52
2017/08/31	22.20%	=	23.60%	×	0.38	×	2.45
2017/05/31	21.92%	=	21.90%	×	0.39	×	2.57
2017/02/28	22.28%	=	20.94%	×	0.39	×	2.70
2016/11/30	—	=	—	×	—	×	2.61
2016/08/31	—	=	—	×	—	×	2.47
2016/05/31	—	=	—	×	—	×	2.57

2023年第3 四半期に比べて株主資本利益率(ROE)が上昇した主な理由は、財務レバレッジ比率の増加です。

Constellation Brands Inc.、 ROE の分解(四半期データ)


	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
2022/11/30	1.21%	=	0.17	×	0.61	×	9.94%	×	0.39	×	2.92
2022/08/31	1.11%	=	0.19	×	0.61	×	9.64%	×	0.39	×	2.59
2022/05/31	11.19%	=	0.74	×	0.83	×	22.54%	×	0.35	×	2.30
2022/02/28	-0.34%	=	-0.15	×	0.43	×	7.09%	×	0.34	×	2.20
2021/11/30	-0.47%	=	-0.20	×	0.42	×	7.14%	×	0.34	×	2.27
2021/08/31	6.77%	=	0.66	×	0.76	×	17.23%	×	0.35	×	2.26
2021/05/31	10.34%	=	0.76	×	0.82	×	23.43%	×	0.33	×	2.14
2021/02/28	14.69%	=	0.80	×	0.87	×	33.60%	×	0.32	×	1.99
2020/11/30	15.13%	=	0.80	×	0.86	×	33.92%	×	0.31	×	2.08
2020/08/31	9.35%	=	1.45	×	0.65	×	14.23%	×	0.31	×	2.26
2020/05/31	0.50%	=	—	×	—	×	-2.52%	×	0.31	×	2.36
2020/02/29	-0.10%	=	—	×	—	×	-6.59%	×	0.31	×	2.25
2019/11/30	7.08%	=	13.04	×	0.12	×	6.21%	×	0.30	×	2.31
2019/08/31	6.79%	=	1.10	×	0.63	×	13.62%	×	0.30	×	2.42
2019/05/31	20.10%	=	0.88	×	0.88	×	39.01%	×	0.28	×	2.38
2019/02/28	27.38%	=	0.83	×	0.92	×	55.31%	×	0.28	×	2.33
2018/11/30	27.73%	=	0.98	×	0.90	×	43.57%	×	0.29	×	2.48
2018/08/31	29.37%	=	0.95	×	0.91	×	48.45%	×	0.33	×	2.14
2018/05/31	25.20%	=	0.97	×	0.89	×	40.16%	×	0.33	×	2.19
2018/02/28	28.82%	=	0.99	×	0.88	×	35.11%	×	0.37	×	2.55
2017/11/30	23.09%	=	0.78	×	0.88	×	36.01%	×	0.37	×	2.52
2017/08/31	22.20%	=	0.80	×	0.87	×	33.82%	×	0.38	×	2.45
2017/05/31	21.92%	=	0.77	×	0.86	×	32.85%	×	0.39	×	2.57
2017/02/28	22.28%	=	0.73	×	0.86	×	33.04%	×	0.39	×	2.70
2016/11/30	—	=	—	×	—	×	—	×	—	×	2.61
2016/08/31	—	=	—	×	—	×	—	×	—	×	2.47
2016/05/31	—	=	—	×	—	×	—	×	—	×	2.57

2023年第3 四半期に比べて株主資本利益率(ROE)が上昇した主な理由は、財務レバレッジ比率の増加です。

Constellation Brands Inc.、 ROA の分解(四半期データ)


	ROA	=	純利益率	×	資産回転率
2022/11/30	0.41%	=	1.06%	×	0.39
2022/08/31	0.43%	=	1.11%	×	0.39
2022/05/31	4.87%	=	13.73%	×	0.35
2022/02/28	-0.16%	=	-0.46%	×	0.34
2021/11/30	-0.21%	=	-0.61%	×	0.34
2021/08/31	2.99%	=	8.62%	×	0.35
2021/05/31	4.84%	=	14.61%	×	0.33
2021/02/28	7.37%	=	23.19%	×	0.32
2020/11/30	7.29%	=	23.51%	×	0.31
2020/08/31	4.13%	=	13.45%	×	0.31
2020/05/31	0.21%	=	0.68%	×	0.31
2020/02/29	-0.04%	=	-0.14%	×	0.31
2019/11/30	3.06%	=	10.07%	×	0.30
2019/08/31	2.80%	=	9.40%	×	0.30
2019/05/31	8.45%	=	29.96%	×	0.28
2019/02/28	11.75%	=	42.33%	×	0.28
2018/11/30	11.19%	=	38.61%	×	0.29
2018/08/31	13.74%	=	41.84%	×	0.33
2018/05/31	11.52%	=	34.56%	×	0.33
2018/02/28	11.29%	=	30.57%	×	0.37
2017/11/30	9.18%	=	24.78%	×	0.37
2017/08/31	9.06%	=	23.60%	×	0.38
2017/05/31	8.54%	=	21.90%	×	0.39
2017/02/28	8.25%	=	20.94%	×	0.39
2016/11/30	—	=	—	×	—
2016/08/31	—	=	—	×	—
2016/05/31	—	=	—	×	—

2023年第3 四半期に総資産利益率(ROA)が低下した主な理由は、純利益率で測定した収益性の低下です。

Constellation Brands Inc.、 ROA の分解(四半期データ)


	ROA	=	税負担	×	利息負担	×	EBITマージン	×	資産回転率
2022/11/30	0.41%	=	0.17	×	0.61	×	9.94%	×	0.39
2022/08/31	0.43%	=	0.19	×	0.61	×	9.64%	×	0.39
2022/05/31	4.87%	=	0.74	×	0.83	×	22.54%	×	0.35
2022/02/28	-0.16%	=	-0.15	×	0.43	×	7.09%	×	0.34
2021/11/30	-0.21%	=	-0.20	×	0.42	×	7.14%	×	0.34
2021/08/31	2.99%	=	0.66	×	0.76	×	17.23%	×	0.35
2021/05/31	4.84%	=	0.76	×	0.82	×	23.43%	×	0.33
2021/02/28	7.37%	=	0.80	×	0.87	×	33.60%	×	0.32
2020/11/30	7.29%	=	0.80	×	0.86	×	33.92%	×	0.31
2020/08/31	4.13%	=	1.45	×	0.65	×	14.23%	×	0.31
2020/05/31	0.21%	=	—	×	—	×	-2.52%	×	0.31
2020/02/29	-0.04%	=	—	×	—	×	-6.59%	×	0.31
2019/11/30	3.06%	=	13.04	×	0.12	×	6.21%	×	0.30
2019/08/31	2.80%	=	1.10	×	0.63	×	13.62%	×	0.30
2019/05/31	8.45%	=	0.88	×	0.88	×	39.01%	×	0.28
2019/02/28	11.75%	=	0.83	×	0.92	×	55.31%	×	0.28
2018/11/30	11.19%	=	0.98	×	0.90	×	43.57%	×	0.29
2018/08/31	13.74%	=	0.95	×	0.91	×	48.45%	×	0.33
2018/05/31	11.52%	=	0.97	×	0.89	×	40.16%	×	0.33
2018/02/28	11.29%	=	0.99	×	0.88	×	35.11%	×	0.37
2017/11/30	9.18%	=	0.78	×	0.88	×	36.01%	×	0.37
2017/08/31	9.06%	=	0.80	×	0.87	×	33.82%	×	0.38
2017/05/31	8.54%	=	0.77	×	0.86	×	32.85%	×	0.39
2017/02/28	8.25%	=	0.73	×	0.86	×	33.04%	×	0.39
2016/11/30	—	=	—	×	—	×	—	×	—
2016/08/31	—	=	—	×	—	×	—	×	—
2016/05/31	—	=	—	×	—	×	—	×	—

2023年第3 四半期の総資産利益率(ROA)が低下した主な理由は、税負担率で測定した税の影響額の減少です。

Constellation Brands Inc.、純利益率の分解(四半期データ)


	純利益率	=	税負担	×	利息負担	×	EBITマージン
2022/11/30	1.06%	=	0.17	×	0.61	×	9.94%
2022/08/31	1.11%	=	0.19	×	0.61	×	9.64%
2022/05/31	13.73%	=	0.74	×	0.83	×	22.54%
2022/02/28	-0.46%	=	-0.15	×	0.43	×	7.09%
2021/11/30	-0.61%	=	-0.20	×	0.42	×	7.14%
2021/08/31	8.62%	=	0.66	×	0.76	×	17.23%
2021/05/31	14.61%	=	0.76	×	0.82	×	23.43%
2021/02/28	23.19%	=	0.80	×	0.87	×	33.60%
2020/11/30	23.51%	=	0.80	×	0.86	×	33.92%
2020/08/31	13.45%	=	1.45	×	0.65	×	14.23%
2020/05/31	0.68%	=	—	×	—	×	-2.52%
2020/02/29	-0.14%	=	—	×	—	×	-6.59%
2019/11/30	10.07%	=	13.04	×	0.12	×	6.21%
2019/08/31	9.40%	=	1.10	×	0.63	×	13.62%
2019/05/31	29.96%	=	0.88	×	0.88	×	39.01%
2019/02/28	42.33%	=	0.83	×	0.92	×	55.31%
2018/11/30	38.61%	=	0.98	×	0.90	×	43.57%
2018/08/31	41.84%	=	0.95	×	0.91	×	48.45%
2018/05/31	34.56%	=	0.97	×	0.89	×	40.16%
2018/02/28	30.57%	=	0.99	×	0.88	×	35.11%
2017/11/30	24.78%	=	0.78	×	0.88	×	36.01%
2017/08/31	23.60%	=	0.80	×	0.87	×	33.82%
2017/05/31	21.90%	=	0.77	×	0.86	×	32.85%
2017/02/28	20.94%	=	0.73	×	0.86	×	33.04%
2016/11/30	—	=	—	×	—	×	—
2016/08/31	—	=	—	×	—	×	—
2016/05/31	—	=	—	×	—	×	—

2023年第3 四半期の純利益率の低下の主な理由は、税負担率で測定した税の影響の減少です。

Constellation Brands Inc. (NYSE:STZ)

デュポンの分析: ROE、ROA、純利益率の内訳
四半期データ

ROEを2つのコンポーネントに分解

ROEを3つの要素に分解

ROEを5つの要素に分解

ROAを2つのコンポーネントに分解

ROAを4つの要素に分解

当期純利益率の分解

Constellation Brands Inc. (NYSE:STZ)

デュポンの分析: ROE、ROA、純利益率の内訳 四半期データ

ROEを2つのコンポーネントに分解

ROEを3つの要素に分解

ROEを5つの要素に分解

ROAを2つのコンポーネントに分解

ROAを4つの要素に分解

当期純利益率の分解

デュポンの分析: ROE、ROA、純利益率の内訳
四半期データ