A One-Page Guide to DuPont Analysis of Financial Statements—Helping You Screen for High-Quality Stocks

Most investors, when analyzing stocks, routinely check the F10 section—yet the financial metrics displayed there often overwhelm newcomers. Many beginners feel intimidated by financial statements and even shy away from numerical data altogether. In reality, financial statement analysis is a critical component of stock analysis. The DuPont analysis framework helps users clearly understand key financial indicators. Where can you find a listed company’s DuPont analysis table? You can enter a listed company’s stock code on Sina Finance (Sina Stock), then locate its DuPont analysis report in the form panel at the bottom-left corner. Alternatively, many financial software platforms—including Tonghuashun and East Money’s Choice Financial Terminal—offer DuPont analysis reports. Major financial websites such as Dongfangcaifu also provide DuPont analysis for individual stocks. What exactly is a DuPont analysis table? This is the DuPont analysis table—a tool that offers transparent insight into a company’s financial health. Below, we explain its core metrics. For simplicity, we temporarily omit weighted-average asset adjustments, since incorporating asset weighting would complicate understanding for most users; instead, we use unweighted calculations. In practice, this simplification has negligible impact—unless major M&A or restructuring activities occur. Note: Sina Finance’s DuPont analysis uses weighted calculations, whereas East Money employs an unweighted methodology. The DuPont analysis system centers on Return on Equity (ROE). ROE = Net Income / Shareholders’ Equity; Shareholders’ Equity = Total Assets − Total Liabilities Shareholders’ equity represents the amount invested by shareholders—or, equivalently, the company’s ‘own money’. Thus, ROE measures the return generated on shareholders’ capital during the period—a key metric investors care about. Accordingly, DuPont analysis is fundamentally designed to inform shareholders how much value their investment has generated over the year. Return on Total Assets (ROA) = Net Income / Total Assets; Total Assets = Shareholders’ Equity + Total Liabilities Since companies typically operate with debt financing, they combine shareholder capital and borrowed funds to acquire assets—such as equipment and factories—to conduct business. These collectively constitute total assets. ROA thus gauges how efficiently those assets generate profit: ROA = Net Income / Total Assets. Substituting the identity Total Assets = Shareholders’ Equity + Total Liabilities yields ROA = Net Income / (Shareholders’ Equity + Total Liabilities). Consider two otherwise identical companies—same business, competitiveness, products, and scale. Suppose both have identical total assets of 10 units and identical net income of 5 units—but differ in capital structure: Company A is fully equity-financed (Shareholders’ Equity = Total Assets = 10); Company B raises half its capital from shareholders (5 units) and half via debt (5 units), so Total Assets (10) = Shareholders’ Equity (5) + Total Liabilities (5). With identical net income: Company A’s ROE = Net Income (5) / (Total Assets (10) − Total Liabilities (0)) = 50%.

USD 14.4 Billion! DuPont Sells Its Aramid Business!

Regarding Nomex and Kevlar: Nomex is a heat-resistant and flame-retardant meta-aramid fiber. It neither melts nor drips, nor supports combustion. It is widely used to manufacture protective fabrics, garments, and insulation materials for aerospace and automotive industries—and is especially prevalent in personal protective equipment (PPE) for firefighters and workers in high-temperature environments. Nomex-based PPE delivers exceptional thermal, flame, and arc-flash protection. Major meta-aramid producers include DuPont (30,000 tons/year), Tayho New Materials (16,000 tons/year), Teijin (Japan) (5,000 tons/year), and Chaomeisi (5,000 tons/year). Kevlar is a heat-resistant, lightweight para-aramid synthetic fiber. Under the Kevlar brand, it is used across diverse applications—from protective mining equipment and bulletproof vests to coatings and cables—especially in ballistic body armor and vests. Major para-aramid producers include DuPont (35,000 tons/year), Teijin (Japan) (32,000 tons/year), Tayho New Materials (16,000 tons/year), Kolon Industries (South Korea) (7,000 tons/year), and Sinochem International (8,000 tons/year). Both Nomex and Kevlar fall under DuPont’s Personal Protection business segment and were originally developed by DuPont in the 1960s. To this day, they remain among DuPont’s most renowned products in the protective materials field. According to reports, as part of DuPont’s 2025 business restructuring, its aramid business has been designated as an independent reporting unit. Following impairment testing, goodwill impairment of USD 768 million was recognized. DuPont’s Transformation Plan: In January this year, DuPont announced an accelerated timeline for the spin-off and independent listing of its Electronics business, targeting completion before November 2025—while simultaneously canceling its previously announced plan (announced in May last year) to spin off its Water Solutions business. The spun-off Electronics business will operate as a new company—Qnity Electronics Inc.—focused exclusively on electronic materials. Qnity will rank among the world’s largest and most comprehensive solution providers for the semiconductor and electronics industries, enabling advanced computing, intelligent technologies, and seamless connectivity. It will employ over 10,000 people and serve cutting-edge electronics customers across more than 80 countries. Beginning in the late 20th century, DuPont initiated a strategic transformation. In 2017, Dow and DuPont merged in a USD 130 billion transaction; subsequently, in 2019, the combined entity—DowDuPont—spun off into three independent, publicly traded companies: Corteva (agriculture), Dow (materials science), and the restructured DuPont (specialty products). Since entering the 21st century, DuPont has continuously optimized its portfolio through a series of strategic acquisitions and divestitures—successfully acquiring high-quality assets including Laird Performance Materials and Spectrum Plastics Group, while divesting non-core businesses such as Transportation & Materials, and Nutrition & Biosciences.

Mondrian Investment Partners Sells 343,162 DuPont de Nemours Shares

6 days ago

Mondrian Investment Partners reduced its DuPont de Nemours stake by 44%, selling 343,162 shares in Q3. DuPont reported strong quarterly earnings of $1.88 per share and declared a $0.60 dividend.

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