AAON Inc (AAON)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 177,623 | 100,376 | 58,758 | 79,009 | 53,711 |
| Total assets | US$ in thousands | 941,436 | 813,903 | 650,180 | 449,008 | 371,424 |
| ROA | 18.87% | 12.33% | 9.04% | 17.60% | 14.46% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $177,623K ÷ $941,436K
= 18.87%
The Return on Assets (ROA) of AAON Inc. has exhibited fluctuations over the past five years. In 2023, the ROA increased to 18.87% from 12.33% in 2022, indicating a significant improvement in the company's ability to generate profit relative to its total assets. This surge in ROA suggests that AAON Inc. utilized its assets more efficiently in 2023 compared to the previous year.
Looking back at the trend, the ROA was relatively stable in 2021 at 9.04% before experiencing a notable increase to 17.60% in 2020. This ascent in 2020 was followed by a slight decrease to 14.46% in 2019. Overall, the ROA has demonstrated variability over the years, with some years showing stronger profitability relative to the assets employed than others.
The fluctuating nature of AAON Inc.'s ROA indicates variations in the company's profitability and efficiency in managing its assets over the analyzed period. Further examination of the company's financial performance and operational strategies may provide insights into the factors driving these fluctuations in ROA.
Peer comparison
Dec 31, 2023