AeroVironment Inc (AVAV)
Operating return on assets (Operating ROA)
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 40,795 | 33,084 | 50,451 | 57,779 | 59,898 | 78,970 | 91,057 | 103,090 | 70,084 | 49,513 | 27,753 | -12,928 | -19,414 | -27,295 | -35,176 | -7,849 | -7,661 | -18,513 | -11,900 | -21,574 |
| Total assets | US$ in thousands | 1,120,570 | 1,048,140 | 1,019,080 | 999,169 | 1,060,840 | 980,299 | 980,299 | 1,006,700 | 1,006,700 | 826,060 | 826,060 | 824,577 | 921,202 | 921,202 | 891,682 | 891,682 | 896,654 | 896,654 | 914,200 | 905,263 |
| Operating ROA | 3.64% | 3.16% | 4.95% | 5.78% | 5.65% | 8.06% | 9.29% | 10.24% | 6.96% | 5.99% | 3.36% | -1.57% | -2.11% | -2.96% | -3.94% | -0.88% | -0.85% | -2.06% | -1.30% | -2.38% |
April 30, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $40,795K ÷ $1,120,570K
= 3.64%
The analysis of AeroVironment Inc's operating return on assets (ROA) over the specified time period reveals notable fluctuations that reflect changes in the company's operational efficiency and profitability at the asset level. During the initial periods, notably January 2022 through October 2022, the operating ROA was significantly negative, ranging from -2.38% to -3.94%, indicating that the company was not generating sufficient operating income relative to its assets, which could imply operational challenges or investments that had yet to yield positive returns.
As the period progressed into early 2023, the negative trend persisted but showed signs of moderation, with ROA figures such as -2.96% and -2.11%, suggesting potential improvements or ongoing adjustments within operational processes. A turning point is observed around July 2023, when the operating ROA transitioned into positive territory, moving from -0.85% in July 2022 to positive figures in July 2023, culminating in a peak of 10.24% in October 2023. This substantial positive shift indicates enhanced operational efficiency, better asset utilization, or improved profitability from core business activities.
Following the peak in late 2023, the ROA experienced a gradual decline, with figures decreasing to 8.06% by January 2024, and further down to approximately 4.95% by October 2024. Despite this decline, the ROA remained in positive territory, underscoring ongoing operational profitability, albeit at a moderated level compared to the peak. Throughout early 2025, the operating ROA stabilized within the 3-4% range, indicating relative consistency but with less pronounced gains.
Overall, the trajectory reflects a significant turnaround from negative to positive operating ROA, signifying improved operational performance post-2022. The decline from the late 2023 peak suggests a moderation in profit margins or asset optimization but still indicates that AeroVironament possesses the ability to generate positive operating returns from its assets in recent periods. This pattern suggests a period of operational recovery and stabilization following prior challenges.
Peer comparison
Apr 30, 2025