Astec Industries Inc (ASTE)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 33,500 | -100 | 15,800 | 46,000 | 22,300 |
| Total assets | US$ in thousands | 1,059,300 | 1,014,400 | 905,800 | 846,700 | 800,500 |
| ROA | 3.16% | -0.01% | 1.74% | 5.43% | 2.79% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $33,500K ÷ $1,059,300K
= 3.16%
From 2019 to 2023, Astec Industries Inc.'s return on assets (ROA) fluctuated. The company experienced a significant decrease in ROA in 2020, with a ROA of 5.53%, followed by a notable decline in 2021 to 1.95%. In 2022, the company reported a negative ROA of -0.01%, indicating potential financial difficulties. However, in 2023, Astec Industries Inc. managed to improve its ROA to 3.16%, suggesting a recovery in asset utilization efficiency. Overall, the fluctuating trend in ROA indicates varying levels of efficiency in generating profits relative to the company's total assets over the years. Further analysis of the company's operations and management strategies may be needed to determine the underlying reasons for these fluctuations.
Peer comparison
Dec 31, 2023