Addus HomeCare Corporation (ADUS)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	90,956	68,737	65,936	44,507	34,752
Total assets	US$ in thousands	1,024,430	937,994	947,585	892,582	636,748
Operating ROA		8.88%	7.33%	6.96%	4.99%	5.46%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $90,956K ÷ $1,024,430K
= 8.88%

Addus HomeCare Corporation's operating return on assets (operating ROA) has shown a positive trend over the five-year period from 2019 to 2023. The company's operating ROA has increased from 5.46% in 2019 to 8.88% in 2023, reflecting an improving operational efficiency in generating profits from its assets.

The gradual improvement in operating ROA indicates that Addus HomeCare Corporation has been able to effectively utilize its assets to generate operating income over the years. This increase suggests that the company is becoming more efficient in managing its operating expenses and generating higher operating profits relative to its asset base.

Overall, the consistent rise in operating ROA signifies that Addus HomeCare Corporation has been successful in enhancing its operational performance and efficiency, which is a positive indicator for investors and stakeholders.