Tools · Calculator
Return on equity and assets calculator
Divide net income by shareholders' equity and by total assets, or load all three from a covered company's 10-K.
An illustration, not a verdict. This calculator divides net income by equity and by assets. It doesn't say whether any result is high or low, and it doesn't predict anything.
The formulas
ROE = net income ÷ shareholders' equity × 100
ROA = net income ÷ total assets × 100
A worked example: Apple
In fiscal 2026, Apple's net income was $132.2B. Shareholders' equity at year end was $112.1B, so return on equity was about 117.9%. Total assets were $404.5B, so return on assets was about 32.7%.
Source: Apple 10-K for fiscal 2026, filed Nov 3, 2026
Reading the result
Return on equity covers what can move the ratio besides profit, and return on assets covers the asset-side version.
Common questions
How do you calculate return on equity?
Divide net income by shareholders' equity and multiply by 100. Apple's fiscal 2026 net income of $132.2B and equity of $112.1B give an ROE of about 117.9%. Source: Apple 10-K for fiscal 2026.
How do you calculate return on assets?
Divide net income by total assets and multiply by 100. Apple's net income of $132.2B and assets of $404.5B give an ROA of about 32.7%. Source: Apple 10-K for fiscal 2026.
Why can ROE be very high?
Often because equity is small, after years of buybacks or heavy borrowing, rather than because profit is unusually large. The calculator shows n/m when equity is zero or negative, because the ratio isn't meaningful then.
What is the difference between ROE and ROA?
ROE divides net income by shareholders' equity; ROA divides it by total assets. ROA isn't affected by how the assets are financed.
Do these use year-end or average equity and assets?
The presets use the year-end figures from the 10-K balance sheet, the same as the explainers. Some people average the starting and ending amounts; you can type those averages yourself.
Disclosures
- Editor holdings
- The editor holds shares of Tesla (TSLA) and SpaceX in a long-term retirement account. The editor holds no position in any other company named on this page. As of Nov 11, 2026.
- Compensation
- Nobody paid for this calculator. No affiliate links on this calculator.
- Sources
- Each company's own SEC filings, linked next to each number.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold any security, and it doesn't consider your situation.
More in Learn and Tools · Methodology & Disclosures explains where every number comes from.