DuPont-FiveComponent.xlsx

Sheet1

Meta Platforms Inc.
Five-component disaggregation of ROE
	ROE	=	Tax Burden	×	Interest Burden	×	EBIT Margin	×	Asset Turnover	×	Financial Leverage
Dec 31, 2021	31.53%		0.83		1.00		40.11%		0.71		1.33
Dec 31, 2020	22.72%		0.88		1.00		38.61%		0.54		1.24
Dec 31, 2019	18.29%		0.75		1.00		35.12%		0.53		1.32
Dec 31, 2018	26.28%		0.87		1.00		45.44%		0.57		1.16
Dec 31, 2017	21.43%		0.77		1.00		50.67%		0.48		1.14
Comcast Corp.
Five-component disaggregation of ROE
	ROE	=	Tax Burden	×	Interest Burden	×	EBIT Margin	×	Asset Turnover	×	Financial Leverage
Dec 31, 2021	14.73%		0.73		0.82		20.36%		0.42		2.87
Dec 31, 2020	11.66%		0.76		0.75		17.85%		0.38		3.03
Dec 31, 2019	15.78%		0.78		0.79		19.55%		0.41		3.18
Dec 31, 2018	16.38%		0.78		0.81		19.74%		0.38		3.51
Dec 31, 2017	33.11%		1.50		0.83		21.56%		0.45		2.72
Walt Disney Co.
Five-component disaggregation of ROE
	ROE	=	Tax Burden	×	Interest Burden	×	EBIT Margin	×	Asset Turnover	×	Financial Leverage
Oct 2, 2021	2.25%		0.99		0.57		5.29%		0.33		2.30
Oct 3, 2020	-3.43%		—		—		-0.79%		0.32		2.41
Sep 28, 2019	12.44%		0.78		0.92		22.04%		0.36		2.18
Sep 29, 2018	25.83%		0.88		0.95		25.14%		0.60		2.02
Sep 30, 2017	21.74%		0.67		0.96		25.23%		0.58		2.32
Oct 1, 2016	21.71%		0.65		0.98		26.64%		0.60		2.13