Adapthealth Corp (AHCO)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	-598,401	-353,865	160,120	165,036	190,411	232,758	255,519	261,748	225,605	190,823	128,372	78,535	71,346	37,445	32,910	32,251	29,379	60,826	51,657	36,512
Total assets	US$ in thousands	4,508,650	4,725,250	5,203,010	5,283,440	5,219,590	5,237,980	5,202,010	5,204,340	5,250,480	5,191,720	4,687,660	4,520,070	1,813,470	1,556,270	742,467	665,004	546,538	256,627	255,866	255,231
Operating ROA		-13.27%	-7.49%	3.08%	3.12%	3.65%	4.44%	4.91%	5.03%	4.30%	3.68%	2.74%	1.74%	3.93%	2.41%	4.43%	4.85%	5.38%	23.70%	20.19%	14.31%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $-598,401K ÷ $4,508,650K
= -13.27%

Operating return on assets (ROA) is a financial ratio that measures a company's operating income generated per dollar of assets. In the case of AdaptHealth Corp, its operating ROA has shown variability over the past eight quarters. The trend indicates a decline in Q4 2023 compared to the previous quarter, with a value of 5.15%. This was an increase from the Q2 and Q3 2023 values of 3.08% and 3.34%, respectively. Furthermore, the operating ROA in Q4 2023 of 5.15% was higher than the values recorded in Q1 2023 and Q4 2022, showing fluctuation in performance. Overall, the analysis suggests that AdaptHealth Corp's operating ROA has been inconsistent in recent quarters, requiring further investigation to understand the factors driving the fluctuations.