I have been trying to calculate ROE. I am getting confused with various balance sheet items in annual reports. so ROE is…

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ROE
Return on Equity. An indicator of corporate profitability, widely used by investors as a measure of how a company is using its money. There are two ways of calculating ROE: the traditional formula and the DuPont formula. The traditional approach divides the company's net profit after taxes for the past 12 months by stockholders' equity (adjusted for stock splits). But this fails to account for the effect of borrowed funds, which can magnify the returns posted by even a poorly managed company. An alternative approach, developed by the DuPont Corporation, links return on investment (ROI) to financial leverage (use of debt).

Traditional Formula:
ROE = Net Profit After Taxes ÷ Stockholders' Equity

DuPont Formula:
ROE = ROI x Equity Multiplier
ROE = (Net Profit After Taxes ÷ Total Assets) x (Total Assets ÷ Stockholders' Equity)
For example, using the traditional formula, a company with $18,000 in net profit after taxes and $45,000 in stockholders' equity would have an ROE of 40%. The DuPont formula takes the analysis one step further by factoring in the contribution of borrowed funds. Using the previous example, if the company has total assets of $100,000, then $55,000 of the company's capital is supplied by creditors and its equity multiplier is 2.22.
ROE = ($18,000 ÷ $100,000) x ($100,000 ÷ $45,000)
ROE = 18% x 2.22
ROE = 40%
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ok. so lets take a real life example. We look at Telecom New Zealand 2007 annual report.
http://annualreport07.telecom.co.nz/...eport-2007.pdf

I get these figures from pages 31 and 32.

Net earnings /(loss) attributable to shareholders =3024
Total assets =8276
Total equity attributable to equity holders of the company=3598

ROE=(3024/8276) x (8276/3598) =0.840%

Is this calculation correct?