Avient Corp (AVNT)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	196,800	243,300	279,700	111,600	156,800
Total assets	US$ in thousands	5,968,500	6,085,000	4,997,200	4,870,500	3,273,300
Operating ROA		3.30%	4.00%	5.60%	2.29%	4.79%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $196,800K ÷ $5,968,500K
= 3.30%

Avient Corp's operating return on assets (operating ROA) has shown some fluctuations over the past five years. The trend indicates a decrease in performance in 2023 compared to the previous years, with the operating ROA decreasing to 3.30% from 4.00% in 2022. The highest operating ROA was recorded in 2021 at 7.63%, showing a significant improvement from the preceding year. However, the performance dropped in 2020 to 3.89% before slightly increasing to 4.79% in 2019.

This trend indicates that Avient Corp's ability to generate operating income from its assets has been inconsistent over the years, with periods of both growth and decline. Further analysis of the company's operations and financial strategies may be necessary to understand the factors contributing to these fluctuations in operating ROA.