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Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Aerojet Rocketdyne Holdings's annualized net income for the quarter that ended in Mar. 2023 was $111 Mil. Aerojet Rocketdyne Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2023 was $363 Mil. Therefore, Aerojet Rocketdyne Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2023 was 30.62%.
The historical rank and industry rank for Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity or its related term are showing as below:
During the past 13 years, Aerojet Rocketdyne Holdings's highest Return-on-Tangible-Equity was 626.94%. The lowest was 20.59%. And the median was 71.54%.
The historical data trend for Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity 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.
Aerojet Rocketdyne Holdings Annual Data | |||||||||||||||||||||
Trend | Nov13 | Nov14 | Nov15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | |||||||||||
Return-on-Tangible-Equity | Get a 7-Day Free Trial | 626.94 | 51.71 | 71.54 | 82.75 | 21.81 |
Aerojet Rocketdyne Holdings Quarterly Data | ||||||||||||||||||||
Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | |
Return-on-Tangible-Equity | Get a 7-Day Free Trial | 32.59 | 17.81 | 15.33 | 18.79 | 30.62 |
For the Aerospace & Defense subindustry, Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Aerospace & Defense industry and Industrials sector, Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity falls into.
Aerojet Rocketdyne Holdings's annualized Return-on-Tangible-Equity for the fiscal year that ended in Dec. 2022 is calculated as
Return-on-Tangible-Equity | = | Net Income | / | ( (Total Tangible Equity | + | Total Tangible Equity) | / count ) |
(A: Dec. 2022 ) | (A: Dec. 2021 ) | (A: Dec. 2022 ) | |||||
= | Net Income | / | ( (Total Stockholders Equity - Intangible Assets | + | Total Stockholders Equity - Intangible Assets ) | / count ) | |
(A: Dec. 2022 ) | (A: Dec. 2021 ) | (A: Dec. 2022 ) | |||||
= | 74 | / | ( (327 | + | 351.6 ) | / 2 ) | |
= | 74 | / | 339.3 | ||||
= | 21.81 % |
Aerojet Rocketdyne Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2023 is calculated as
Return-on-Tangible-Equity | = | Net Income | / | ( (Total Tangible Equity | + | Total Tangible Equity) | / count ) |
(Q: Mar. 2023 ) | (Q: Dec. 2022 ) | (Q: Mar. 2023 ) | |||||
= | Net Income | / | ( (Total Stockholders Equity - Intangible Assets | + | Total Stockholders Equity - Intangible Assets) | / count ) | |
(Q: Mar. 2023 ) | (Q: Dec. 2022 ) | (Q: Mar. 2023 ) | |||||
= | 111.2 | / | ( (351.6 | + | 374.8) | / 2 ) | |
= | 111.2 | / | 363.2 | ||||
= | 30.62 % |
* 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2023) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.
Aerojet Rocketdyne Holdings (NYSE:AJRD) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity 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 Return-on-Tangible-Equitys can be extremely high.
Thank you for viewing the detailed overview of Aerojet Rocketdyne Holdings's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
Joseph E. Chontos | officer: See Remarks | 222 N. PACIFIC COAST HIGHWAY, SEGUNDO CA 90245 |
Kevin P. Chilton | director | 1201 LAKE ROBBINS DRIVE, THE WOODLANDS TX 77380 |
Lance W Lord | director | 1110 TRUMPETERS COURT, MONUMENT CO 80132 |
Eileen P. Drake | director, officer: CEO and President | C/O GENCORP INC., P.O. BOX 537012, SACRAMENTO CA 95853-7012 |
Marion C Blakey | director | C/O ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE WA 98188 |
Deborah L James | director | 1710 SAIC DRIVE, MCLEAN VA 22102 |
Gail Baker | director | C/O LEONARDO DRS, INC., 2345 CRYSTAL DRIVE SUITE 1000, ARLINGTON VA 22202 |
Daniel L. Boehle | officer: CFO, VP and Controller | C/O AEROJET ROCKETDYNE HOLDINGS, INC., 222 N. SEPULVEDA BOULEVARD, SUITE 500, EL SEGUNDO CA 90245 |
Warren G Lichtenstein | director, officer: Executive Chairman | C/O STEEL PARTNERS II L P, 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Arjun Kampani | officer: VP, Gen Counsel and Secretary | C/O AEROJET ROCKETDYNE HOLDINGS, INC., 2001 AEROJET ROAD, RANCHO CORDOVA CA 95742 |
John D. Schumacher | officer: SVP, Washington Operations | C/O GENCORP INC., P.O. BOX 537012, SACRAMENTO CA 95853-7012 |
Amy L Gowder | officer: Chief Operating Officer | AEROJET ROCKETDYNE HOLDINGS, INC., 222 N. PACIFIC COAST HIGHWAY, SUITE 500, EL SEGUNDO CA 90245 |
Audrey A. Mcniff | director | C/O AEROJET ROCKETDYNE HOLDINGS, INC., 222 N. PACIFIC COAST HIGHWAY, SUITE 500, EL SEGUNDO CA 90245 |
Thomas A Corcoran | director | 3790 VIA DE LA VALLE, SUITE 311, DEL MAR CA 92014 |
Martin Turchin | director | CB RICHARD ELLIS, 200 PARK AVENUE, NEW YOK NY 10166 |
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