Ann: Preliminary Final Report, page-5

An interesting little thought experiment - admittedly very basic - but if we were to assume that DDT maintains a net profit of $1,200,000 consistently over the next 3 years (with no reduction, but also no growth), and shareholder equity increases directly in line with this, ROE could be mapped out as follows.



I appreciate DDT comes off a very low base, but I can't think of too many businesses, where in the face of earnings stagnation (i.e. no growth), they're able to maintain double digit ROE, let alone above 20% (and without the use of debt).