ROE frustration
A company makes 9060 billion in profit. Has 1715514217 outstanding shares, giving this company a market cap of $128,663,566,275 based on its current share price of 75. Its EPS is 5.34, and PE Ratio is just under 13 - which are both verified by Yahoo finance.
Yet my calculations based on a simple net income / shareholder equity gives a ROE of around 7%. However the official ROE reported by Yahoo and media outlets, is around 18% ROE.
Where have I gone wrong?
