Avanos Medical Inc (AVNS)

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	12,900	56,800	68,400	80,600	86,600	58,500	49,100	31,700	10,700	-63,500	-67,000	-61,500	-48,500	-4,500	-22,500	-30,500	-55,700	-60,800	-35,700	-17,100
Total assets	US$ in thousands	1,692,400	1,724,900	1,666,700	1,734,900	1,786,900	1,775,200	1,752,800	1,766,500	1,603,600	1,597,900	1,683,300	1,648,800	1,672,800	1,799,100	1,755,900	1,763,700	1,799,600	1,807,700	1,783,400	1,834,000
Operating ROA		0.76%	3.29%	4.10%	4.65%	4.85%	3.30%	2.80%	1.79%	0.67%	-3.97%	-3.98%	-3.73%	-2.90%	-0.25%	-1.28%	-1.73%	-3.10%	-3.36%	-2.00%	-0.93%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $12,900K ÷ $1,692,400K
= 0.76%

Avanos Medical Inc's operating return on assets (operating ROA) has fluctuated over the quarters in the provided data. The trend indicates a general decline from Q1 2022 to Q4 2023, with the operating ROA decreasing from 4.16% to 1.03%. This suggests a potential decrease in the company's efficiency in generating operating income from its assets over the given period. The peak in Q4 2022 at 4.34% might indicate a period of improved asset utilization compared to subsequent quarters. Further analysis of factors affecting operating performance and asset management efficiency would be necessary to understand the drivers of these fluctuations and determine potential areas for improvement.