DuPont Decomposition
Why does JUBLINGREA earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
8.6% = 6.1% × 0.82 × 1.72
Latest: FY2025
Profitability
Net Margin
6.1%
4.6% →6.1%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.82x
0.27x →0.82x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.72x
1.60x →1.72x
Assets funded by equity vs debt
Trend Analysis
ROE improved by 6.6 pp over 3 years. Driven by net margin improving (4.6% → 6.1%), asset turnover improving (0.27x → 0.82x).
Historical Decomposition
Last 3 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2023 | ₹0Cr | ₹0Cr | 4.6% | 0.27 | 1.60 | 2.0% |
| FY2024 | ₹0Cr | ₹0Cr | 2.7% | 0.23 | 1.73 | 1.1% |
| FY2025 | ₹0Cr | ₹0Cr | 6.1% | 0.82 | 1.72 | 8.6% |
How to read DuPont
- • Rising ROE from margin = pricing power, operational improvement (good)
- • Rising ROE from turnover = better asset utilization (good)
- • Rising ROE from leverage = more debt, amplified risk (caution)
- • Falling ROE across all three = structural deterioration (red flag)
DuPont decomposition from audited annual financials. Factual analysis, not investment advice.