Kellanova (K)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	951,000	825,000	865,000	836,000	960,000	1,492,000	1,488,000	1,542,000	1,488,000	1,260,000	1,301,000	1,272,000	1,251,000	1,191,000	1,090,000	1,025,000	960,000	731,000	864,000	1,174,000
Total stockholders’ equity	US$ in thousands	3,175,000	4,038,000	3,965,000	4,052,000	3,941,000	4,283,000	4,082,000	3,795,000	3,720,000	3,484,000	3,362,000	3,138,000	3,112,000	3,044,000	2,870,000	2,674,000	2,747,000	2,727,000	2,650,000	2,533,000
ROE		29.95%	20.43%	21.82%	20.63%	24.36%	34.84%	36.45%	40.63%	40.00%	36.17%	38.70%	40.54%	40.20%	39.13%	37.98%	38.33%	34.95%	26.81%	32.60%	46.35%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $951,000K ÷ $3,175,000K
= 29.95%

Kellanova's return on equity (ROE) has displayed fluctuations over the past few periods. The ROE was relatively stable around 30% in the earlier periods, with a slight dip to 26.81% in Q4 2019. Thereafter, the ROE saw a significant increase, reaching a peak of 46.35% in Q1 2020.

Subsequently, the ROE gradually declined to around 34.95% in Q4 2020 before embarking on an upward trajectory again. The ROE peaked at 40.63% in Q2 2022 and then fluctuated around the 40% mark until Q3 2023.

In the most recent period, Kellanova's ROE was 29.95%, indicating a decrease compared to the previous quarter. Overall, the company has demonstrated a healthy ROE performance, with periodic fluctuations reflecting changes in profitability and efficiency in utilizing shareholders' equity. It is important for stakeholders to monitor these trends to assess the company's financial health and performance over time.