Albany International Corporation (AIN)
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 | 167,894 | 181,022 | 178,011 | 166,080 | 193,576 |
| Total assets | US$ in thousands | 1,835,010 | 1,642,260 | 1,556,060 | 1,549,940 | 1,474,370 |
| Operating ROA | 9.15% | 11.02% | 11.44% | 10.72% | 13.13% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $167,894K ÷ $1,835,010K
= 9.15%
Albany International Corp.'s operating return on assets (operating ROA) has exhibited a downward trend over the past five years. In 2023, the company's operating ROA decreased to 9.16% from 11.03% in 2022, continuing the decline observed since 2019 when it was at 13.33%. This trend indicates a gradual reduction in the company's ability to generate operating income relative to its total assets. The decreasing operating ROA may suggest inefficiencies in asset utilization or declining profitability of the company's operations. It is essential for investors and stakeholders to further investigate the reasons behind this declining trend to assess the company's financial health and performance.