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ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. EQM Midstream Partners LP's annualized net income for the quarter that ended in Mar. 2020 was $1,007 Mil. EQM Midstream Partners LP's average Total Stockholders Equity over the quarter that ended in Mar. 2020 was $5,197 Mil. Therefore, EQM Midstream Partners LP's annualized ROE % for the quarter that ended in Mar. 2020 was 19.37%.
The historical rank and industry rank for EQM Midstream Partners LP's ROE % or its related term are showing as below:
The historical data trend for EQM Midstream Partners LP's ROE % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
EQM Midstream Partners LP Annual Data | |||||||||||||||||||||
Trend | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | |||||||||||
ROE % | Get a 7-Day Free Trial | 31.95 | 28.04 | 15.13 | 12.28 | 3.66 |
EQM Midstream Partners LP Quarterly Data | ||||||||||||||||||||
Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | |
ROE % | Get a 7-Day Free Trial | 20.85 | 11.30 | -0.73 | -15.49 | 19.37 |
For the Oil & Gas Midstream subindustry, EQM Midstream Partners LP's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Oil & Gas industry and Energy sector, EQM Midstream Partners LP's ROE % distribution charts can be found below:
* The bar in red indicates where EQM Midstream Partners LP's ROE % falls into.
EQM Midstream Partners LP's annualized ROE % for the fiscal year that ended in Dec. 2019 is calculated as
ROE % | = | Net Income (A: Dec. 2019 ) | / | ( (Total Stockholders Equity (A: Dec. 2018 ) | + | Total Stockholders Equity (A: Dec. 2019 )) | / count ) |
= | 183.373 | / | ( (4813.299 | + | 5201.593) | / 2 ) | |
= | 183.373 | / | 5007.446 | ||||
= | 3.66 % |
EQM Midstream Partners LP's annualized ROE % for the quarter that ended in Mar. 2020 is calculated as
ROE % | = | Net Income (Q: Mar. 2020 ) | / | ( (Total Stockholders Equity (Q: Dec. 2019 ) | + | Total Stockholders Equity (Q: Mar. 2020 )) | / count ) |
= | 1006.712 | / | ( (5201.593 | + | 5191.812) | / 2 ) | |
= | 1006.712 | / | 5196.7025 | ||||
= | 19.37 % |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2020) net income data. ROE % is displayed in the 30-year financial page.
EQM Midstream Partners LP (NYSE:EQM) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
ROE % | (Q: Mar. 2020 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 1006.712 | / | 5196.7025 | ||
= | (Net Income / Revenue ) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (1006.712 / 1812.452) | * | (1812.452 / 12336.5365) | * | (12336.5365 / 5196.7025) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 55.54 % | * | 0.1469 | * | 2.3739 |
= | ROA % | * | Equity Multiplier | ||
= | 8.16 % | * | 2.3739 | ||
= | 19.37 % |
With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.
The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:
ROE % | (Q: Mar. 2020 ) | ||||||||
= | Net Income | / | Total Stockholders Equity | ||||||
= | 1006.712 | / | 5196.7025 | ||||||
= | (Net Income / Pre-Tax Income) | * | (Pre-Tax Income / Operating Income) | * | (Operating Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (1006.712 / 1021.14) | * | (1021.14 / 1244.396) | * | (1244.396 / 1812.452) | * | (1812.452 / 12336.5365) | * | (12336.5365 / 5196.7025) |
= | Tax Burden | * | Interest Burden | * | Operating Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 0.9859 | * | 0.8206 | * | 68.66 % | * | 0.1469 | * | 2.3739 |
= | 19.37 % |
Note: The net income data used here is four times the quarterly (Mar. 2020) net income data. The Revenue data used here is four times the quarterly (Mar. 2020) revenue data. The same rule applies to Pre-Tax Income and Operating Income. * In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Thank you for viewing the detailed overview of EQM Midstream Partners LP's ROE % provided by GuruFocus.com. Please click on the following links to see related term pages.
Brian P. Pietrandrea | officer: VP & CAO | 2200 ENERGY DRIVE, CANONSBURG PA 15317 |
Kenneth Michael Burke | director | 11742 RIVERVIEW DRIVE, HOUSTON TX 77007 |
Diana M Charletta | director, officer: EVP & Chief Operating Officer | 2200 ENERGY DRIVE, CANONSBURG PA 15317 |
Eqt Corp | 10 percent owner | 625 LIBERTY AVENUE, SUITE 1700, PITTSBURGH PA 15222 |
Phillip D. Swisher | officer: VP & Chief Accounting Officer | 625 LIBERTY AVENUE, SUITE 2000, PITTSBURGH PA 15222 |
Kirk R Oliver | director, officer: SVP & Chief Financial Officer | 1601 BRYAN STREET, DALLAS TX 75201 |
Stephen A Thorington | director | 700 MILAM, SUITE 3100, HOUSTON TX 77002 |
Thomas F Karam | director, officer: President & CEO | C/O SOUTHERN UNION CO, ONE PEI CENTER, WILKES BARRE PA 18711-0601 |
Lewis B Gardner | director | 625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222 |
Julian Mark Bott | director | 625 LIBERTY AVENUE, C/O EQT MIDSTREAM PARTNERS, PITTSBURGH PA 15222 |
Ashcroft Jeremiah J Iii | director, officer: SVP & Chief Operating Officer | ONE GREENWAY PLAZA, SUITE 600, HOUSTON TX 77046 |
M Elise Hyland | director, officer: EVP & Chief Operating Officer | 625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222 |
Steven T Schlotterbeck | director | 625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222 |
Jimmi Sue Smith | officer: Chief Accounting Officer | 625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222 |
Robert Joseph Mcnally | director, officer: Sr. Vice President and CFO | 625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222 |
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