Albany International Corporation (AIN)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 111,120 | 95,762 | 118,478 | 98,589 | 132,398 |
| Total assets | US$ in thousands | 1,835,010 | 1,642,260 | 1,556,060 | 1,549,940 | 1,474,370 |
| ROA | 6.06% | 5.83% | 7.61% | 6.36% | 8.98% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $111,120K ÷ $1,835,010K
= 6.06%
Albany International Corp.'s return on assets (ROA) has demonstrated variability over the past five years. The ROA for the most recent year, ending on December 31, 2023, stood at 6.06%, showing a slight increase from the previous year's 5.83%. However, it is lower compared to the levels seen in the years 2021 and 2019, which were 7.61% and 8.98%, respectively.
The company's ROA indicates its ability to generate profits from its assets. The fluctuation in ROA could be attributed to changes in the company's asset efficiency or profitability. It is essential for stakeholders to analyze the factors driving these fluctuations to assess the company's operational performance and overall financial health.