Air Products and Chemicals Inc (APD)

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	2,509,500	2,494,600	2,382,500	2,365,700	2,467,800	2,338,800	2,329,000	2,278,700	2,265,300	2,281,400	2,224,900	2,187,000	2,215,700	2,237,600	2,280,600	2,311,100	2,250,400	2,144,400	2,074,900	2,021,000
Total assets	US$ in thousands	34,118,200	32,002,500	30,929,500	29,435,400	28,278,300	27,192,600	27,489,000	27,449,700	27,125,300	26,859,200	26,252,100	26,158,900	26,088,100	25,168,500	24,782,100	19,501,200	19,651,600	18,942,800	19,531,900	19,244,500
Operating ROA		7.36%	7.80%	7.70%	8.04%	8.73%	8.60%	8.47%	8.30%	8.35%	8.49%	8.48%	8.36%	8.49%	8.89%	9.20%	11.85%	11.45%	11.32%	10.62%	10.50%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $2,509,500K ÷ $34,118,200K
= 7.36%

Air Products & Chemicals Inc. has shown relatively stable operating return on assets (operating ROA) performance in the past eight quarters, with values ranging from 7.99% to 8.79%. There was a slight decrease in operating ROA from 8.77% in Q2 2023 to 7.99% in Q1 2024. Overall, the company has maintained operating ROA above 8% in most quarters, indicating efficient utilization of its assets to generate operating profits. However, it is worth monitoring future quarters to assess whether the trend continues or fluctuates.

Peer comparison

Dec 31, 2023

Company name

Symbol

Operating ROA

Air Products and Chemicals Inc

APD

7.36%

Linde plc Ordinary Shares

LIN

9.93%

Minerals Technologies Inc

MTX

5.13%