[ { "name": "Canonical profit sweep", "description": "Move net income through the canonical value.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "canonical-fixture", "canonical_output_match": true, "state_counts": { "calculated": 61 }, "value_min": 0.12, "value_max": 0.36, "segments": [ { "start_step": 0, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "12.00%", "end_value_label": "36.00%" } ] }, "states": [ { "step": 0, "value": 0.12, "value_label": "12.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 48.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.04, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.12, "direct_roe": 0.12, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 1, "value": 0.124, "value_label": "12.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 49.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.041333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.124, "direct_roe": 0.124, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": 0.128, "value_label": "12.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 51.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.042666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.128, "direct_roe": 0.128, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": 0.132, "value_label": "13.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 52.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.044, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.132, "direct_roe": 0.132, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": 0.136, "value_label": "13.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 54.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.045333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.136, "direct_roe": 0.136, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": 0.14, "value_label": "14.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 56.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.046666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.14, "direct_roe": 0.14, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": 0.144, "value_label": "14.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 57.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.048, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.144, "direct_roe": 0.144, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": 0.148, "value_label": "14.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 59.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.049333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.148, "direct_roe": 0.148, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": 0.152, "value_label": "15.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 60.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.050666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.152, "direct_roe": 0.152, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 0.156, "value_label": "15.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 62.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.052, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.156, "direct_roe": 0.156, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 0.16, "value_label": "16.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 64.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.053333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.16, "direct_roe": 0.16, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 0.164, "value_label": "16.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 65.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.054666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.164, "direct_roe": 0.164, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 0.168, "value_label": "16.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 67.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.056, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.168, "direct_roe": 0.168, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 0.172, "value_label": "17.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 68.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.057333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.172, "direct_roe": 0.172, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 0.176, "value_label": "17.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 70.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.058666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.176, "direct_roe": 0.176, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 0.18, "value_label": "18.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 72.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.06, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.18, "direct_roe": 0.18, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 0.184, "value_label": "18.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 73.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.061333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.184, "direct_roe": 0.184, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 0.188, "value_label": "18.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 75.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.062666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.188, "direct_roe": 0.188, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 0.192, "value_label": "19.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 76.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.064, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.192, "direct_roe": 0.192, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 0.196, "value_label": "19.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 78.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.065333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.196, "direct_roe": 0.196, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 0.2, "value_label": "20.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 80.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.066666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.2, "direct_roe": 0.2, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.204, "value_label": "20.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 81.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.068, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.204, "direct_roe": 0.204, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.208, "value_label": "20.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 83.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.069333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.208, "direct_roe": 0.208, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.212, "value_label": "21.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 84.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.070666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.212, "direct_roe": 0.212, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.216, "value_label": "21.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 86.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.072, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.216, "direct_roe": 0.216, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.22, "value_label": "22.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 88.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.073333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.22, "direct_roe": 0.22, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.224, "value_label": "22.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 89.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.074666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.224, "direct_roe": 0.224, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.228, "value_label": "22.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 91.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.076, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.228, "direct_roe": 0.228, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.232, "value_label": "23.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 92.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.077333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.232, "direct_roe": 0.232, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.236, "value_label": "23.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 94.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.078666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.236, "direct_roe": 0.236, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.244, "value_label": "24.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 97.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.081333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.244, "direct_roe": 0.244, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.248, "value_label": "24.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 99.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.082666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.248, "direct_roe": 0.248, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.252, "value_label": "25.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 100.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.084, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.252, "direct_roe": 0.252, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.256, "value_label": "25.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 102.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.085333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.256, "direct_roe": 0.256, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.26, "value_label": "26.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 104.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.086666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.26, "direct_roe": 0.26, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.264, "value_label": "26.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 105.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.088, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.264, "direct_roe": 0.264, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.268, "value_label": "26.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 107.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.089333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.268, "direct_roe": 0.268, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.272, "value_label": "27.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 108.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.090666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.272, "direct_roe": 0.272, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.276, "value_label": "27.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 110.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.092, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.276, "direct_roe": 0.276, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.28, "value_label": "28.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 112.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.093333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.28, "direct_roe": 0.28, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.284, "value_label": "28.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 113.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.094666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.284, "direct_roe": 0.284, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.288, "value_label": "28.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 115.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.096, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.288, "direct_roe": 0.288, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.292, "value_label": "29.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 116.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.097333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.292, "direct_roe": 0.292, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.296, "value_label": "29.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 118.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.098666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.296, "direct_roe": 0.296, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.3, "value_label": "30.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 120.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.1, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.3, "direct_roe": 0.3, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.304, "value_label": "30.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 121.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.101333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.304, "direct_roe": 0.304, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.308, "value_label": "30.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 123.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.102666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.308, "direct_roe": 0.308, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.312, "value_label": "31.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 124.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.104, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.312, "direct_roe": 0.312, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.316, "value_label": "31.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 126.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.105333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.316, "direct_roe": 0.316, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.32, "value_label": "32.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 128.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.106666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.32, "direct_roe": 0.32, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.324, "value_label": "32.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 129.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.108, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.324, "direct_roe": 0.324, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.328, "value_label": "32.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 131.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.109333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.328, "direct_roe": 0.328, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.332, "value_label": "33.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 132.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.110666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.332, "direct_roe": 0.332, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.336, "value_label": "33.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 134.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.112, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.336, "direct_roe": 0.336, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.34, "value_label": "34.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 136.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.113333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.34, "direct_roe": 0.34, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.344, "value_label": "34.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 137.6, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.114666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.344, "direct_roe": 0.344, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.348, "value_label": "34.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 139.2, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.116, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.348, "direct_roe": 0.348, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.352, "value_label": "35.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 140.8, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.117333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.352, "direct_roe": 0.352, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.356, "value_label": "35.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 142.4, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.118666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.356, "direct_roe": 0.356, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.36, "value_label": "36.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 144.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.12, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.36, "direct_roe": 0.36, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Revenue and turnover", "description": "Change revenue while assets and equity stay fixed.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "canonical-fixture", "canonical_output_match": true, "state_counts": { "calculated": 61 }, "value_min": 0.24, "value_max": 0.24, "segments": [ { "start_step": 0, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "24.00%", "end_value_label": "24.00%" } ] }, "states": [ { "step": 0, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 700.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.137142857143, "asset_turnover": 0.7, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 1, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 716.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.133953488372, "asset_turnover": 0.716666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 733.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.130909090909, "asset_turnover": 0.733333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 750.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.128, "asset_turnover": 0.75, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 766.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.125217391304, "asset_turnover": 0.766666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 783.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.122553191489, "asset_turnover": 0.783333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 800.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.12, "asset_turnover": 0.8, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 816.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.117551020408, "asset_turnover": 0.816666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 833.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.1152, "asset_turnover": 0.833333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 850.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.112941176471, "asset_turnover": 0.85, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 866.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.110769230769, "asset_turnover": 0.866666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 883.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.108679245283, "asset_turnover": 0.883333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 900.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.106666666667, "asset_turnover": 0.9, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 916.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.104727272727, "asset_turnover": 0.916666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 933.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.102857142857, "asset_turnover": 0.933333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 950.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.101052631579, "asset_turnover": 0.95, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 966.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.099310344828, "asset_turnover": 0.966666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 983.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.097627118644, "asset_turnover": 0.983333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1000.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.096, "asset_turnover": 1.0, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1016.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.094426229508, "asset_turnover": 1.016666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1033.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.092903225806, "asset_turnover": 1.033333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1050.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.091428571429, "asset_turnover": 1.05, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1066.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.09, "asset_turnover": 1.066666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1083.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.088615384615, "asset_turnover": 1.083333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1100.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.087272727273, "asset_turnover": 1.1, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1116.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.085970149254, "asset_turnover": 1.116666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1133.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.084705882353, "asset_turnover": 1.133333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1150.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08347826087, "asset_turnover": 1.15, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1166.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.082285714286, "asset_turnover": 1.166666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1183.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.081126760563, "asset_turnover": 1.183333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1216.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.078904109589, "asset_turnover": 1.216666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1233.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.077837837838, "asset_turnover": 1.233333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1250.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.0768, "asset_turnover": 1.25, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1266.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.075789473684, "asset_turnover": 1.266666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1283.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.074805194805, "asset_turnover": 1.283333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1300.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.073846153846, "asset_turnover": 1.3, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1316.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.072911392405, "asset_turnover": 1.316666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1333.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.072, "asset_turnover": 1.333333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1350.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.071111111111, "asset_turnover": 1.35, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1366.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.070243902439, "asset_turnover": 1.366666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1383.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.069397590361, "asset_turnover": 1.383333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1400.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.068571428571, "asset_turnover": 1.4, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1416.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.067764705882, "asset_turnover": 1.416666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1433.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.066976744186, "asset_turnover": 1.433333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1450.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.066206896552, "asset_turnover": 1.45, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1466.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.065454545455, "asset_turnover": 1.466666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1483.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.064719101124, "asset_turnover": 1.483333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1500.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.064, "asset_turnover": 1.5, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1516.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.063296703297, "asset_turnover": 1.516666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1533.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.062608695652, "asset_turnover": 1.533333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1550.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.061935483871, "asset_turnover": 1.55, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1566.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.061276595745, "asset_turnover": 1.566666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1583.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.060631578947, "asset_turnover": 1.583333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1600.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.06, "asset_turnover": 1.6, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1616.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.059381443299, "asset_turnover": 1.616666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1633.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.058775510204, "asset_turnover": 1.633333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1650.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.058181818182, "asset_turnover": 1.65, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1666.666666666667, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.0576, "asset_turnover": 1.666666666667, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1683.333333333333, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.05702970297, "asset_turnover": 1.683333333333, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1700.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.056470588235, "asset_turnover": 1.7, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Asset intensity", "description": "Change the asset base and observe turnover.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "canonical-fixture", "canonical_output_match": true, "state_counts": { "calculated": 61 }, "value_min": 0.24, "value_max": 0.24, "segments": [ { "start_step": 0, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "24.00%", "end_value_label": "24.00%" } ] }, "states": [ { "step": 0, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 700.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.5, "equity_multiplier": 2.0, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 800.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 1, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 713.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.487603305785, "equity_multiplier": 2.016666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 806.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 726.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.475409836066, "equity_multiplier": 2.033333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 813.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 740.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.463414634146, "equity_multiplier": 2.05, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 820.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 753.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.451612903226, "equity_multiplier": 2.066666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 826.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 766.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.44, "equity_multiplier": 2.083333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 833.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 780.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.428571428571, "equity_multiplier": 2.1, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 840.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 793.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.417322834646, "equity_multiplier": 2.116666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 846.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 806.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.40625, "equity_multiplier": 2.133333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 853.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 820.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.395348837209, "equity_multiplier": 2.15, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 860.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 833.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.384615384615, "equity_multiplier": 2.166666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 866.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 846.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.374045801527, "equity_multiplier": 2.183333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 873.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 860.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.363636363636, "equity_multiplier": 2.2, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 880.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 873.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.353383458647, "equity_multiplier": 2.216666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 886.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 886.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.34328358209, "equity_multiplier": 2.233333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 893.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 900.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.333333333333, "equity_multiplier": 2.25, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 900.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 913.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.323529411765, "equity_multiplier": 2.266666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 906.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 926.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.313868613139, "equity_multiplier": 2.283333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 913.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 940.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.304347826087, "equity_multiplier": 2.3, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 920.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 953.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.294964028777, "equity_multiplier": 2.316666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 926.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 966.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.285714285714, "equity_multiplier": 2.333333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 933.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 980.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.276595744681, "equity_multiplier": 2.35, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 940.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 993.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.267605633803, "equity_multiplier": 2.366666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 946.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1006.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.258741258741, "equity_multiplier": 2.383333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 953.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1020.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.25, "equity_multiplier": 2.4, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 960.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1033.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.241379310345, "equity_multiplier": 2.416666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 966.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1046.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.232876712329, "equity_multiplier": 2.433333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 973.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1060.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.224489795918, "equity_multiplier": 2.45, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 980.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1073.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.216216216216, "equity_multiplier": 2.466666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 986.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1086.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.208053691275, "equity_multiplier": 2.483333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 993.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1113.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.192052980132, "equity_multiplier": 2.516666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1006.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1126.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.184210526316, "equity_multiplier": 2.533333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1013.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1140.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.176470588235, "equity_multiplier": 2.55, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1020.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1153.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.168831168831, "equity_multiplier": 2.566666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1026.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1166.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.161290322581, "equity_multiplier": 2.583333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1033.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1180.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.153846153846, "equity_multiplier": 2.6, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1040.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1193.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.146496815287, "equity_multiplier": 2.616666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1046.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1206.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.139240506329, "equity_multiplier": 2.633333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1053.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1220.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.132075471698, "equity_multiplier": 2.65, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1060.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1233.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.125, "equity_multiplier": 2.666666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1066.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1246.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.11801242236, "equity_multiplier": 2.683333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1073.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1260.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.111111111111, "equity_multiplier": 2.7, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1080.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1273.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.104294478528, "equity_multiplier": 2.716666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1086.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1286.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.09756097561, "equity_multiplier": 2.733333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1093.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1300.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.090909090909, "equity_multiplier": 2.75, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1100.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1313.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.084337349398, "equity_multiplier": 2.766666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1106.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1326.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.077844311377, "equity_multiplier": 2.783333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1113.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1340.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.071428571429, "equity_multiplier": 2.8, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1120.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1353.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.065088757396, "equity_multiplier": 2.816666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1126.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1366.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.058823529412, "equity_multiplier": 2.833333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1133.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1380.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.052631578947, "equity_multiplier": 2.85, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1140.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1393.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.046511627907, "equity_multiplier": 2.866666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1146.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1406.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.040462427746, "equity_multiplier": 2.883333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1153.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1420.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.034482758621, "equity_multiplier": 2.9, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1160.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1433.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.028571428571, "equity_multiplier": 2.916666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1166.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1446.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.022727272727, "equity_multiplier": 2.933333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1173.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1460.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.016949152542, "equity_multiplier": 2.95, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1180.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1473.333333333333, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.011235955056, "equity_multiplier": 2.966666666667, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1186.666666666667, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1486.666666666667, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.005586592179, "equity_multiplier": 2.983333333333, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1193.333333333333, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1500.0, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.0, "equity_multiplier": 3.0, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1200.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Equity multiplier", "description": "Change average equity and the accounting leverage factor.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "canonical-fixture", "canonical_output_match": true, "state_counts": { "calculated": 61 }, "value_min": 0.174545454545, "value_max": 0.384, "segments": [ { "start_step": 0, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "38.40%", "end_value_label": "17.45%" } ] }, "states": [ { "step": 0, "value": 0.384, "value_label": "38.40%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 120.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.0, "dupont_roe": 0.384, "direct_roe": 0.384, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 250.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 1, "value": 0.376470588235, "value_label": "37.65%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 130.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.921568627451, "dupont_roe": 0.376470588235, "direct_roe": 0.376470588235, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 255.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": 0.369230769231, "value_label": "36.92%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 140.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.846153846154, "dupont_roe": 0.369230769231, "direct_roe": 0.369230769231, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 260.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": 0.362264150943, "value_label": "36.23%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 150.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.77358490566, "dupont_roe": 0.362264150943, "direct_roe": 0.362264150943, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 265.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": 0.355555555556, "value_label": "35.56%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 160.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.703703703704, "dupont_roe": 0.355555555556, "direct_roe": 0.355555555556, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 270.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": 0.349090909091, "value_label": "34.91%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 170.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.636363636364, "dupont_roe": 0.349090909091, "direct_roe": 0.349090909091, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 275.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": 0.342857142857, "value_label": "34.29%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 180.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.571428571429, "dupont_roe": 0.342857142857, "direct_roe": 0.342857142857, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 280.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": 0.336842105263, "value_label": "33.68%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 190.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.508771929825, "dupont_roe": 0.336842105263, "direct_roe": 0.336842105263, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 285.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": 0.331034482759, "value_label": "33.10%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 200.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.448275862069, "dupont_roe": 0.331034482759, "direct_roe": 0.331034482759, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 290.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 0.325423728814, "value_label": "32.54%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 210.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.389830508475, "dupont_roe": 0.325423728814, "direct_roe": 0.325423728814, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 295.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 0.32, "value_label": "32.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 220.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.333333333333, "dupont_roe": 0.32, "direct_roe": 0.32, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 300.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 0.314754098361, "value_label": "31.48%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 230.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.27868852459, "dupont_roe": 0.314754098361, "direct_roe": 0.314754098361, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 305.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 0.309677419355, "value_label": "30.97%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 240.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.225806451613, "dupont_roe": 0.309677419355, "direct_roe": 0.309677419355, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 310.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 0.304761904762, "value_label": "30.48%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 250.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.174603174603, "dupont_roe": 0.304761904762, "direct_roe": 0.304761904762, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 315.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 0.3, "value_label": "30.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 260.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.125, "dupont_roe": 0.3, "direct_roe": 0.3, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 320.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 0.295384615385, "value_label": "29.54%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 270.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.076923076923, "dupont_roe": 0.295384615385, "direct_roe": 0.295384615385, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 325.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 0.290909090909, "value_label": "29.09%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 280.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.030303030303, "dupont_roe": 0.290909090909, "direct_roe": 0.290909090909, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 330.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 0.286567164179, "value_label": "28.66%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 290.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.985074626866, "dupont_roe": 0.286567164179, "direct_roe": 0.286567164179, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 335.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 0.282352941176, "value_label": "28.24%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 300.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.941176470588, "dupont_roe": 0.282352941176, "direct_roe": 0.282352941176, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 340.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 0.278260869565, "value_label": "27.83%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 310.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.898550724638, "dupont_roe": 0.278260869565, "direct_roe": 0.278260869565, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 345.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 0.274285714286, "value_label": "27.43%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 320.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.857142857143, "dupont_roe": 0.274285714286, "direct_roe": 0.274285714286, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 350.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.270422535211, "value_label": "27.04%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 330.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.816901408451, "dupont_roe": 0.270422535211, "direct_roe": 0.270422535211, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 355.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.266666666667, "value_label": "26.67%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 340.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.777777777778, "dupont_roe": 0.266666666667, "direct_roe": 0.266666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 360.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.26301369863, "value_label": "26.30%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 350.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.739726027397, "dupont_roe": 0.26301369863, "direct_roe": 0.26301369863, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 365.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.259459459459, "value_label": "25.95%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 360.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.702702702703, "dupont_roe": 0.259459459459, "direct_roe": 0.259459459459, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 370.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.256, "value_label": "25.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 370.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.666666666667, "dupont_roe": 0.256, "direct_roe": 0.256, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 375.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.252631578947, "value_label": "25.26%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 380.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.631578947368, "dupont_roe": 0.252631578947, "direct_roe": 0.252631578947, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 380.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.249350649351, "value_label": "24.94%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 390.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.597402597403, "dupont_roe": 0.249350649351, "direct_roe": 0.249350649351, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 385.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.246153846154, "value_label": "24.62%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 400.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.564102564103, "dupont_roe": 0.246153846154, "direct_roe": 0.246153846154, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 390.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.243037974684, "value_label": "24.30%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 410.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.53164556962, "dupont_roe": 0.243037974684, "direct_roe": 0.243037974684, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 395.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.237037037037, "value_label": "23.70%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 430.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.469135802469, "dupont_roe": 0.237037037037, "direct_roe": 0.237037037037, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 405.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.234146341463, "value_label": "23.41%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 440.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.439024390244, "dupont_roe": 0.234146341463, "direct_roe": 0.234146341463, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 410.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.231325301205, "value_label": "23.13%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 450.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.409638554217, "dupont_roe": 0.231325301205, "direct_roe": 0.231325301205, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 415.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.228571428571, "value_label": "22.86%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 460.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.380952380952, "dupont_roe": 0.228571428571, "direct_roe": 0.228571428571, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 420.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.225882352941, "value_label": "22.59%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 470.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.352941176471, "dupont_roe": 0.225882352941, "direct_roe": 0.225882352941, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 425.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.223255813953, "value_label": "22.33%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 480.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.325581395349, "dupont_roe": 0.223255813953, "direct_roe": 0.223255813953, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 430.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.220689655172, "value_label": "22.07%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 490.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.298850574713, "dupont_roe": 0.220689655172, "direct_roe": 0.220689655172, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 435.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.218181818182, "value_label": "21.82%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 500.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.272727272727, "dupont_roe": 0.218181818182, "direct_roe": 0.218181818182, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 440.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.215730337079, "value_label": "21.57%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 510.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.247191011236, "dupont_roe": 0.215730337079, "direct_roe": 0.215730337079, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 445.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.213333333333, "value_label": "21.33%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 520.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.222222222222, "dupont_roe": 0.213333333333, "direct_roe": 0.213333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 450.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.210989010989, "value_label": "21.10%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 530.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.197802197802, "dupont_roe": 0.210989010989, "direct_roe": 0.210989010989, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 455.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.208695652174, "value_label": "20.87%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 540.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.173913043478, "dupont_roe": 0.208695652174, "direct_roe": 0.208695652174, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 460.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.206451612903, "value_label": "20.65%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 550.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.150537634409, "dupont_roe": 0.206451612903, "direct_roe": 0.206451612903, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 465.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.204255319149, "value_label": "20.43%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 560.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.127659574468, "dupont_roe": 0.204255319149, "direct_roe": 0.204255319149, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 470.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.202105263158, "value_label": "20.21%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 570.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.105263157895, "dupont_roe": 0.202105263158, "direct_roe": 0.202105263158, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 475.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.2, "value_label": "20.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 580.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.083333333333, "dupont_roe": 0.2, "direct_roe": 0.2, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 480.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.19793814433, "value_label": "19.79%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 590.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.061855670103, "dupont_roe": 0.19793814433, "direct_roe": 0.19793814433, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 485.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.195918367347, "value_label": "19.59%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 600.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.040816326531, "dupont_roe": 0.195918367347, "direct_roe": 0.195918367347, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 490.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.193939393939, "value_label": "19.39%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 610.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.020202020202, "dupont_roe": 0.193939393939, "direct_roe": 0.193939393939, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 495.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.192, "value_label": "19.20%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 620.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.0, "dupont_roe": 0.192, "direct_roe": 0.192, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 500.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.190099009901, "value_label": "19.01%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 630.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.980198019802, "dupont_roe": 0.190099009901, "direct_roe": 0.190099009901, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 505.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.188235294118, "value_label": "18.82%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 640.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.960784313725, "dupont_roe": 0.188235294118, "direct_roe": 0.188235294118, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 510.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.18640776699, "value_label": "18.64%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 650.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.941747572816, "dupont_roe": 0.18640776699, "direct_roe": 0.18640776699, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 515.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.184615384615, "value_label": "18.46%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. 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The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 700.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.851851851852, "dupont_roe": 0.177777777778, "direct_roe": 0.177777777778, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 540.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.176146788991, "value_label": "17.61%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 710.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.834862385321, "dupont_roe": 0.176146788991, "direct_roe": 0.176146788991, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 545.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.174545454545, "value_label": "17.45%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 720.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 1.818181818182, "dupont_roe": 0.174545454545, "direct_roe": 0.174545454545, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 550.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Loss state", "description": "Move net income from a loss toward break-even.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "comparison", "canonical_output_match": false, "state_counts": { "loss": 52, "calculated": 9 }, "value_min": -0.3, "value_max": 0.05, "segments": [ { "start_step": 0, "end_step": 51, "state": "loss", "decision": "three-factor-identity-reconciles", "start_value_label": "-30.00%", "end_value_label": "-0.25%" }, { "start_step": 52, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "0.33%", "end_value_label": "5.00%" } ] }, "states": [ { "step": 0, "value": -0.3, "value_label": "-30.00%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -120.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.1, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.3, "direct_roe": -0.3, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 1, "value": -0.294166666667, "value_label": "-29.42%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -117.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.098055555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.294166666667, "direct_roe": -0.294166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": -0.288333333333, "value_label": "-28.83%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -115.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.096111111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.288333333333, "direct_roe": -0.288333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": -0.2825, "value_label": "-28.25%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -113.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.094166666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.2825, "direct_roe": -0.2825, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": -0.276666666667, "value_label": "-27.67%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -110.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.092222222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.276666666667, "direct_roe": -0.276666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": -0.270833333333, "value_label": "-27.08%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -108.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.090277777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.270833333333, "direct_roe": -0.270833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": -0.265, "value_label": "-26.50%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -106.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.088333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.265, "direct_roe": -0.265, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": -0.259166666667, "value_label": "-25.92%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -103.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.086388888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.259166666667, "direct_roe": -0.259166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": -0.253333333333, "value_label": "-25.33%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -101.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.084444444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.253333333333, "direct_roe": -0.253333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": -0.2475, "value_label": "-24.75%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -99.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.0825, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.2475, "direct_roe": -0.2475, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": -0.241666666667, "value_label": "-24.17%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -96.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.080555555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.241666666667, "direct_roe": -0.241666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": -0.235833333333, "value_label": "-23.58%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -94.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.078611111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.235833333333, "direct_roe": -0.235833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": -0.23, "value_label": "-23.00%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -92.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.076666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.23, "direct_roe": -0.23, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": -0.224166666667, "value_label": "-22.42%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -89.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.074722222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.224166666667, "direct_roe": -0.224166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": -0.218333333333, "value_label": "-21.83%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -87.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.072777777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.218333333333, "direct_roe": -0.218333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": -0.2125, "value_label": "-21.25%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -85.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.070833333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.2125, "direct_roe": -0.2125, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": -0.206666666667, "value_label": "-20.67%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -82.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.068888888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.206666666667, "direct_roe": -0.206666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": -0.200833333333, "value_label": "-20.08%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -80.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.066944444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.200833333333, "direct_roe": -0.200833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": -0.195, "value_label": "-19.50%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -78.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.065, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.195, "direct_roe": -0.195, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": -0.189166666667, "value_label": "-18.92%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -75.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.063055555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.189166666667, "direct_roe": -0.189166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": -0.183333333333, "value_label": "-18.33%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -73.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.061111111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.183333333333, "direct_roe": -0.183333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": -0.1775, "value_label": "-17.75%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -71.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.059166666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.1775, "direct_roe": -0.1775, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": -0.171666666667, "value_label": "-17.17%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -68.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.057222222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.171666666667, "direct_roe": -0.171666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": -0.165833333333, "value_label": "-16.58%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -66.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.055277777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.165833333333, "direct_roe": -0.165833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": -0.16, "value_label": "-16.00%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -64.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.053333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.16, "direct_roe": -0.16, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": -0.154166666667, "value_label": "-15.42%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -61.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.051388888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.154166666667, "direct_roe": -0.154166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": -0.148333333333, "value_label": "-14.83%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -59.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.049444444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.148333333333, "direct_roe": -0.148333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": -0.1425, "value_label": "-14.25%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -57.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.0475, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.1425, "direct_roe": -0.1425, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": -0.136666666667, "value_label": "-13.67%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -54.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.045555555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.136666666667, "direct_roe": -0.136666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": -0.130833333333, "value_label": "-13.08%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -52.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.043611111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.130833333333, "direct_roe": -0.130833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": -0.125, "value_label": "-12.50%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -50.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.041666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.125, "direct_roe": -0.125, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": -0.119166666667, "value_label": "-11.92%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -47.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.039722222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.119166666667, "direct_roe": -0.119166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": -0.113333333333, "value_label": "-11.33%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -45.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.037777777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.113333333333, "direct_roe": -0.113333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": -0.1075, "value_label": "-10.75%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -43.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.035833333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.1075, "direct_roe": -0.1075, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": -0.101666666667, "value_label": "-10.17%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -40.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.033888888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.101666666667, "direct_roe": -0.101666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": -0.095833333333, "value_label": "-9.58%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -38.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.031944444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.095833333333, "direct_roe": -0.095833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": -0.09, "value_label": "-9.00%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -36.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.03, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.09, "direct_roe": -0.09, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": -0.084166666667, "value_label": "-8.42%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -33.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.028055555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.084166666667, "direct_roe": -0.084166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": -0.078333333333, "value_label": "-7.83%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -31.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.026111111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.078333333333, "direct_roe": -0.078333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": -0.0725, "value_label": "-7.25%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -29.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.024166666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.0725, "direct_roe": -0.0725, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": -0.066666666667, "value_label": "-6.67%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -26.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.022222222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.066666666667, "direct_roe": -0.066666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": -0.060833333333, "value_label": "-6.08%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -24.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.020277777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.060833333333, "direct_roe": -0.060833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": -0.055, "value_label": "-5.50%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -22.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.018333333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.055, "direct_roe": -0.055, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": -0.049166666667, "value_label": "-4.92%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -19.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.016388888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.049166666667, "direct_roe": -0.049166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": -0.043333333333, "value_label": "-4.33%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -17.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.014444444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.043333333333, "direct_roe": -0.043333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": -0.0375, "value_label": "-3.75%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -15.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.0125, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.0375, "direct_roe": -0.0375, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": -0.031666666667, "value_label": "-3.17%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -12.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.010555555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.031666666667, "direct_roe": -0.031666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": -0.025833333333, "value_label": "-2.58%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -10.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.008611111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.025833333333, "direct_roe": -0.025833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": -0.02, "value_label": "-2.00%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -8.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.006666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.02, "direct_roe": -0.02, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": -0.014166666667, "value_label": "-1.42%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -5.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.004722222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.014166666667, "direct_roe": -0.014166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": -0.008333333333, "value_label": "-0.83%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -3.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.002777777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.008333333333, "direct_roe": -0.008333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": -0.0025, "value_label": "-0.25%", "state": "loss", "diagnostic": "loss · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": -1.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": -0.000833333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": -0.0025, "direct_roe": -0.0025, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "loss", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.003333333333, "value_label": "0.33%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 1.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.001111111111, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.003333333333, "direct_roe": 0.003333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.009166666667, "value_label": "0.92%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 3.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.003055555556, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.009166666667, "direct_roe": 0.009166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.015, "value_label": "1.50%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 6.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.005, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.015, "direct_roe": 0.015, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.020833333333, "value_label": "2.08%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 8.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.006944444444, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.020833333333, "direct_roe": 0.020833333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.026666666667, "value_label": "2.67%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 10.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.008888888889, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.026666666667, "direct_roe": 0.026666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.0325, "value_label": "3.25%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 13.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.010833333333, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.0325, "direct_roe": 0.0325, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.038333333333, "value_label": "3.83%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 15.333333333333, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.012777777778, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.038333333333, "direct_roe": 0.038333333333, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.044166666667, "value_label": "4.42%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 17.666666666667, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.014722222222, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.044166666667, "direct_roe": 0.044166666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.05, "value_label": "5.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 20.0, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.016666666667, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.05, "direct_roe": 0.05, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Zero-revenue boundary", "description": "Approach and leave the zero-revenue not-meaningful state.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "comparison", "canonical_output_match": false, "state_counts": { "not-meaningful": 1, "calculated": 60 }, "value_min": 0.0, "value_max": 0.24, "segments": [ { "start_step": 0, "end_step": 0, "state": "not-meaningful", "decision": "zero-revenue", "start_value_label": "not meaningful", "end_value_label": "not meaningful" }, { "start_step": 1, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "24.00%", "end_value_label": "24.00%" } ] }, "states": [ { "step": 0, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · zero-revenue", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 0.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": 400.0, "state": "not-meaningful", "reason": "zero-revenue" } }, { "step": 1, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 20.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 4.8, "asset_turnover": 0.02, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 2, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 40.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 2.4, "asset_turnover": 0.04, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 3, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 60.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 1.6, "asset_turnover": 0.06, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 4, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 80.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 1.2, "asset_turnover": 0.08, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 5, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 100.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.96, "asset_turnover": 0.1, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 6, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 120.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.8, "asset_turnover": 0.12, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 7, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 140.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.685714285714, "asset_turnover": 0.14, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 8, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 160.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.6, "asset_turnover": 0.16, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 180.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.533333333333, "asset_turnover": 0.18, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 200.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.48, "asset_turnover": 0.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 220.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.436363636364, "asset_turnover": 0.22, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 240.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.4, "asset_turnover": 0.24, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 260.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.369230769231, "asset_turnover": 0.26, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 280.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.342857142857, "asset_turnover": 0.28, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 300.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.32, "asset_turnover": 0.3, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 320.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.3, "asset_turnover": 0.32, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 340.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.282352941176, "asset_turnover": 0.34, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 360.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.266666666667, "asset_turnover": 0.36, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 380.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.252631578947, "asset_turnover": 0.38, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 400.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.24, "asset_turnover": 0.4, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 420.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.228571428571, "asset_turnover": 0.42, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 440.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.218181818182, "asset_turnover": 0.44, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 460.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.208695652174, "asset_turnover": 0.46, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 480.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.2, "asset_turnover": 0.48, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 500.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.192, "asset_turnover": 0.5, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 520.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.184615384615, "asset_turnover": 0.52, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 540.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.177777777778, "asset_turnover": 0.54, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 560.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.171428571429, "asset_turnover": 0.56, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 580.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.165517241379, "asset_turnover": 0.58, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 600.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.16, "asset_turnover": 0.6, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 620.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.154838709677, "asset_turnover": 0.62, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 640.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.15, "asset_turnover": 0.64, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 660.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.145454545455, "asset_turnover": 0.66, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 680.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.141176470588, "asset_turnover": 0.68, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 700.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.137142857143, "asset_turnover": 0.7, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 720.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.133333333333, "asset_turnover": 0.72, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 740.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.12972972973, "asset_turnover": 0.74, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 760.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.126315789474, "asset_turnover": 0.76, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 780.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.123076923077, "asset_turnover": 0.78, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 800.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.12, "asset_turnover": 0.8, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 820.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.117073170732, "asset_turnover": 0.82, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 840.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.114285714286, "asset_turnover": 0.84, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 860.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.111627906977, "asset_turnover": 0.86, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 880.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.109090909091, "asset_turnover": 0.88, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 900.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.106666666667, "asset_turnover": 0.9, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 920.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.104347826087, "asset_turnover": 0.92, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 940.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.102127659574, "asset_turnover": 0.94, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 960.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.1, "asset_turnover": 0.96, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 980.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.097959183673, "asset_turnover": 0.98, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1000.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.096, "asset_turnover": 1.0, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1020.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.094117647059, "asset_turnover": 1.02, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1040.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.092307692308, "asset_turnover": 1.04, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1060.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.090566037736, "asset_turnover": 1.06, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1080.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.088888888889, "asset_turnover": 1.08, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1100.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.087272727273, "asset_turnover": 1.1, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1120.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.085714285714, "asset_turnover": 1.12, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1140.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.084210526316, "asset_turnover": 1.14, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1160.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08275862069, "asset_turnover": 1.16, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1180.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.081355932203, "asset_turnover": 1.18, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200.0, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] }, { "name": "Nonpositive-equity boundary", "description": "Cross the package's average-equity interpretation gate.", "canonical_step": 30, "summary": { "focus_step": 30, "focus_kind": "comparison", "canonical_output_match": false, "state_counts": { "not-meaningful": 8, "calculated": 53 }, "value_min": 0.0, "value_max": 71.999999999999, "segments": [ { "start_step": 0, "end_step": 7, "state": "not-meaningful", "decision": "nonpositive-average-equity", "start_value_label": "not meaningful", "end_value_label": "not meaningful" }, { "start_step": 8, "end_step": 60, "state": "calculated", "decision": "three-factor-identity-reconciles", "start_value_label": "7200.00%", "end_value_label": "24.00%" } ] }, "states": [ { "step": 0, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -500.0 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -60.0, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 1, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -484.666666666667 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -52.333333333333, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 2, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -469.333333333333 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -44.666666666667, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 3, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -454.0 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -37.0, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 4, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -438.666666666667 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -29.333333333333, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 5, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -423.333333333333 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -21.666666666667, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 6, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -408.0 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -14.0, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 7, "value": 0.0, "value_label": "not meaningful", "state": "not-meaningful", "diagnostic": "not-meaningful · nonpositive-average-equity", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -392.666666666667 }, "output": { "net_profit_margin": null, "asset_turnover": null, "equity_multiplier": null, "dupont_roe": null, "direct_roe": null, "identity_gap": null, "average_assets": 1000.0, "average_equity": -6.333333333333, "state": "not-meaningful", "reason": "nonpositive-average-equity" } }, { "step": 8, "value": 71.999999999999, "value_label": "7200.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -377.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 749.999999999995, "dupont_roe": 71.999999999999, "direct_roe": 71.999999999999, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 1.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 9, "value": 10.666666666667, "value_label": "1066.67%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -362.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 111.111111111111, "dupont_roe": 10.666666666667, "direct_roe": 10.666666666667, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 9.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 10, "value": 5.76, "value_label": "576.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -346.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 60.0, "dupont_roe": 5.76, "direct_roe": 5.76, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 16.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 11, "value": 3.945205479452, "value_label": "394.52%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -331.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 41.095890410959, "dupont_roe": 3.945205479452, "direct_roe": 3.945205479452, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 24.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 12, "value": 3.0, "value_label": "300.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -316.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 31.25, "dupont_roe": 3.0, "direct_roe": 3.0, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 32.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 13, "value": 2.420168067227, "value_label": "242.02%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -300.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 25.210084033613, "dupont_roe": 2.420168067227, "direct_roe": 2.420168067227, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 39.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 14, "value": 2.028169014085, "value_label": "202.82%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -285.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 21.12676056338, "dupont_roe": 2.028169014085, "direct_roe": 2.028169014085, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 47.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 15, "value": 1.745454545455, "value_label": "174.55%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -270.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 18.181818181818, "dupont_roe": 1.745454545455, "direct_roe": 1.745454545455, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 55.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 16, "value": 1.531914893617, "value_label": "153.19%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -254.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 15.957446808511, "dupont_roe": 1.531914893617, "direct_roe": 1.531914893617, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 62.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 17, "value": 1.364928909953, "value_label": "136.49%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -239.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 14.218009478673, "dupont_roe": 1.364928909953, "direct_roe": 1.364928909953, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 70.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 18, "value": 1.230769230769, "value_label": "123.08%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -224.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 12.820512820513, "dupont_roe": 1.230769230769, "direct_roe": 1.230769230769, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 78.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 19, "value": 1.120622568093, "value_label": "112.06%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -208.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 11.673151750973, "dupont_roe": 1.120622568093, "direct_roe": 1.120622568093, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 85.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 20, "value": 1.028571428571, "value_label": "102.86%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -193.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 10.714285714286, "dupont_roe": 1.028571428571, "direct_roe": 1.028571428571, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 93.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 21, "value": 0.950495049505, "value_label": "95.05%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -178.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 9.90099009901, "dupont_roe": 0.950495049505, "direct_roe": 0.950495049505, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 101.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 22, "value": 0.883435582822, "value_label": "88.34%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -162.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 9.20245398773, "dupont_roe": 0.883435582822, "direct_roe": 0.883435582822, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 108.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 23, "value": 0.825214899713, "value_label": "82.52%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -147.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 8.595988538682, "dupont_roe": 0.825214899713, "direct_roe": 0.825214899713, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 116.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 24, "value": 0.774193548387, "value_label": "77.42%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -132.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 8.064516129032, "dupont_roe": 0.774193548387, "direct_roe": 0.774193548387, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 124.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 25, "value": 0.729113924051, "value_label": "72.91%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -116.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 7.594936708861, "dupont_roe": 0.729113924051, "direct_roe": 0.729113924051, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 131.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 26, "value": 0.688995215311, "value_label": "68.90%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -101.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 7.177033492823, "dupont_roe": 0.688995215311, "direct_roe": 0.688995215311, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 139.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 27, "value": 0.65306122449, "value_label": "65.31%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -86.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 6.802721088435, "dupont_roe": 0.65306122449, "direct_roe": 0.65306122449, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 147.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 28, "value": 0.620689655172, "value_label": "62.07%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -70.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 6.465517241379, "dupont_roe": 0.620689655172, "direct_roe": 0.620689655172, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 154.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 29, "value": 0.591375770021, "value_label": "59.14%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -55.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 6.160164271047, "dupont_roe": 0.591375770021, "direct_roe": 0.591375770021, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 162.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 30, "value": 0.564705882353, "value_label": "56.47%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -40.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 5.882352941176, "dupont_roe": 0.564705882353, "direct_roe": 0.564705882353, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 170.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 31, "value": 0.540337711069, "value_label": "54.03%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -24.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 5.62851782364, "dupont_roe": 0.540337711069, "direct_roe": 0.540337711069, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 177.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 32, "value": 0.517985611511, "value_label": "51.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": -9.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 5.395683453237, "dupont_roe": 0.517985611511, "direct_roe": 0.517985611511, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 185.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 33, "value": 0.497409326425, "value_label": "49.74%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 6.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 5.181347150259, "dupont_roe": 0.497409326425, "direct_roe": 0.497409326425, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 193.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 34, "value": 0.478405315615, "value_label": "47.84%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 21.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.983388704319, "dupont_roe": 0.478405315615, "direct_roe": 0.478405315615, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 200.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 35, "value": 0.4608, "value_label": "46.08%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 36.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.8, "dupont_roe": 0.4608, "direct_roe": 0.4608, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 208.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 36, "value": 0.444444444444, "value_label": "44.44%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 52.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.62962962963, "dupont_roe": 0.444444444444, "direct_roe": 0.444444444444, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 216.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 37, "value": 0.429210134128, "value_label": "42.92%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 67.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.470938897168, "dupont_roe": 0.429210134128, "direct_roe": 0.429210134128, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 223.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 38, "value": 0.414985590778, "value_label": "41.50%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 82.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.322766570605, "dupont_roe": 0.414985590778, "direct_roe": 0.414985590778, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 231.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 39, "value": 0.401673640167, "value_label": "40.17%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 98.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.18410041841, "dupont_roe": 0.401673640167, "direct_roe": 0.401673640167, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 239.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 40, "value": 0.389189189189, "value_label": "38.92%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 113.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 4.054054054054, "dupont_roe": 0.389189189189, "direct_roe": 0.389189189189, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 246.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 41, "value": 0.37745740498, "value_label": "37.75%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 128.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.931847968545, "dupont_roe": 0.37745740498, "direct_roe": 0.37745740498, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 254.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 42, "value": 0.36641221374, "value_label": "36.64%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 144.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.81679389313, "dupont_roe": 0.36641221374, "direct_roe": 0.36641221374, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 262.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 43, "value": 0.355995055624, "value_label": "35.60%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 159.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.708281829419, "dupont_roe": 0.355995055624, "direct_roe": 0.355995055624, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 269.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 44, "value": 0.346153846154, "value_label": "34.62%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 174.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.605769230769, "dupont_roe": 0.346153846154, "direct_roe": 0.346153846154, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 277.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 45, "value": 0.336842105263, "value_label": "33.68%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 190.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.508771929825, "dupont_roe": 0.336842105263, "direct_roe": 0.336842105263, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 285.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 46, "value": 0.328018223235, "value_label": "32.80%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 205.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.416856492027, "dupont_roe": 0.328018223235, "direct_roe": 0.328018223235, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 292.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 47, "value": 0.319644839068, "value_label": "31.96%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 220.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.329633740289, "dupont_roe": 0.319644839068, "direct_roe": 0.319644839068, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 300.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 48, "value": 0.311688311688, "value_label": "31.17%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 236.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.246753246753, "dupont_roe": 0.311688311688, "direct_roe": 0.311688311688, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 308.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 49, "value": 0.304118268215, "value_label": "30.41%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 251.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.167898627244, "dupont_roe": 0.304118268215, "direct_roe": 0.304118268215, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 315.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 50, "value": 0.296907216495, "value_label": "29.69%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 266.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.092783505155, "dupont_roe": 0.296907216495, "direct_roe": 0.296907216495, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 323.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 51, "value": 0.29003021148, "value_label": "29.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 282.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 3.021148036254, "dupont_roe": 0.29003021148, "direct_roe": 0.29003021148, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 331.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 52, "value": 0.283464566929, "value_label": "28.35%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 297.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.952755905512, "dupont_roe": 0.283464566929, "direct_roe": 0.283464566929, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 338.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 53, "value": 0.27718960539, "value_label": "27.72%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 312.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.88739172281, "dupont_roe": 0.27718960539, "direct_roe": 0.27718960539, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 346.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 54, "value": 0.271186440678, "value_label": "27.12%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 328.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.824858757062, "dupont_roe": 0.271186440678, "direct_roe": 0.271186440678, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 354.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 55, "value": 0.265437788018, "value_label": "26.54%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 343.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.764976958525, "dupont_roe": 0.265437788018, "direct_roe": 0.265437788018, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 361.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 56, "value": 0.259927797834, "value_label": "25.99%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 358.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.707581227437, "dupont_roe": 0.259927797834, "direct_roe": 0.259927797834, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 369.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 57, "value": 0.254641909814, "value_label": "25.46%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 374.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.652519893899, "dupont_roe": 0.254641909814, "direct_roe": 0.254641909814, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 377.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 58, "value": 0.249566724437, "value_label": "24.96%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 389.333333333333 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.599653379549, "dupont_roe": 0.249566724437, "direct_roe": 0.249566724437, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 384.666666666667, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 59, "value": 0.24468988955, "value_label": "24.47%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 404.666666666667 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.548853016143, "dupont_roe": 0.24468988955, "direct_roe": 0.24468988955, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 392.333333333333, "state": "calculated", "reason": "three-factor-identity-reconciles" } }, { "step": 60, "value": 0.24, "value_label": "24.00%", "state": "calculated", "diagnostic": "calculated · three-factor-identity-reconciles", "guidance": "Observe average assets/equity, three factors, direct ROE, and identity gap. The decision boundary is zero revenue or nonpositive average equity.", "input": { "net_income": 96, "revenue": 1200, "beginning_assets": 900, "ending_assets": 1100, "beginning_equity": 380, "ending_equity": 420.0 }, "output": { "net_profit_margin": 0.08, "asset_turnover": 1.2, "equity_multiplier": 2.5, "dupont_roe": 0.24, "direct_roe": 0.24, "identity_gap": 0.0, "average_assets": 1000.0, "average_equity": 400.0, "state": "calculated", "reason": "three-factor-identity-reconciles" } } ] } ]