Axcelis Technologies Inc (ACLS)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 246,263 | 183,079 | 98,650 | 49,982 | 17,034 |
| Total assets | US$ in thousands | 1,281,970 | 1,013,640 | 753,240 | 624,624 | 548,094 |
| ROA | 19.21% | 18.06% | 13.10% | 8.00% | 3.11% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $246,263K ÷ $1,281,970K
= 19.21%
Axcelis Technologies Inc's return on assets (ROA) has been showing a positive trend over the past five years. The ROA has increased from 3.11% in 2019 to 19.21% in 2023, indicating improvement in the company's efficiency in generating profits from its assets. This upward trend suggests that the company has been effectively utilizing its assets to generate higher earnings. The significant increase in ROA from 2020 to 2021 and subsequent increments in the following years reflect the company's ability to optimize its asset base, which bodes well for its financial performance and long-term sustainability.
Peer comparison
Dec 31, 2023
Company name
Symbol
ROA
Axcelis Technologies Inc
ACLS
19.21%
Azenta Inc
AZTA
-0.49%
Lam Research Corp
LRCX
20.42%
Veeco Instruments Inc
VECO
-2.47%