Avient Corp (AVNT)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 75,700 | 703,100 | 230,800 | 131,600 | 588,600 |
| Total assets | US$ in thousands | 5,968,500 | 6,085,000 | 4,997,200 | 4,870,500 | 3,273,300 |
| ROA | 1.27% | 11.55% | 4.62% | 2.70% | 17.98% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $75,700K ÷ $5,968,500K
= 1.27%
Avient Corp's return on assets (ROA) has fluctuated over the past five years, ranging from a high of 17.98% in 2019 to a low of 1.27% in 2023. The ROA of 11.55% in 2022 was significantly higher than the other years. This indicates that the company generated $0.1155 in profit for every dollar of assets in 2022. The relatively lower ROA in 2023 suggests a decrease in the company's efficiency in generating profits from its assets compared to the previous year. It would be advisable to further investigate the factors contributing to this decline and take appropriate measures to improve asset utilization efficiency.
Peer comparison
Dec 31, 2023