Atmos Energy Corporation (ATO)

Operating return on assets (Operating ROA)

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Operating income	US$ in thousands	1,355,360	1,067,150	920,982	904,998	824,099
Total assets	US$ in thousands	25,194,500	22,517,000	22,193,000	19,608,700	15,359,000
Operating ROA		5.38%	4.74%	4.15%	4.62%	5.37%

September 30, 2024 calculation

Operating ROA = Operating income ÷ Total assets
= $1,355,360K ÷ $25,194,500K
= 5.38%

Operating return on assets (operating ROA) measures the efficiency of a company in generating operating income from its assets.

Atmos Energy Corporation's operating ROA has shown a fluctuating trend over the past five years, ranging from 4.15% in 2022 to 5.38% in 2024. The increase in operating ROA from 4.74% in 2023 to 5.38% in 2024 indicates an improvement in the company's ability to generate operating income relative to its assets.

However, the operating ROA in 2024 is still lower than the peak value of 5.37% achieved in 2020. This suggests that the company may have faced challenges in efficiently utilizing its assets to generate operating income in the intervening years.

Overall, while there has been some variability in Atmos Energy Corporation's operating ROA, the recent improvement in 2024 indicates a positive trend in the company's operational efficiency and profitability. Further analysis of the underlying factors contributing to these changes would provide a more holistic understanding of the company's financial performance.