Applied Industrial Technologies (AIT)

Return on assets (ROA)

		Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	385,762	374,486	374,456	363,685	346,739	333,637	304,756	281,325	257,414	237,545	225,302	162,942	144,757	115,502	-23,338	20,027	24,042	33,856	133,168	133,854
Total assets	US$ in thousands	2,951,910	2,854,940	2,782,760	2,750,510	2,743,330	2,608,640	2,522,900	2,474,170	2,452,590	2,383,570	2,225,710	2,303,180	2,271,810	2,305,390	2,241,020	2,249,250	2,283,550	2,289,530	2,419,000	2,429,730
ROA		13.07%	13.12%	13.46%	13.22%	12.64%	12.79%	12.08%	11.37%	10.50%	9.97%	10.12%	7.07%	6.37%	5.01%	-1.04%	0.89%	1.05%	1.48%	5.51%	5.51%

June 30, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $385,762K ÷ $2,951,910K
= 13.07%

Applied Industrial Technologies' return on assets (ROA) has shown a positive trend over the past few quarters, indicating improving efficiency in generating profits from its assets. The ROA increased from -1.04% in Dec 31, 2020, to 13.07% in Jun 30, 2024. This improvement signifies the company's ability to utilize its assets effectively to generate earnings. The consistent upward trend in ROA reflects management efficiency and effective resource allocation, potentially enhancing shareholder value. Overall, the increasing ROA demonstrates Applied Industrial Technologies' strong performance in utilizing its assets to generate profits.