Avery Dennison Corp (AVY)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 503,000 | 757,100 | 740,100 | 555,900 | 303,600 |
| Total assets | US$ in thousands | 8,209,800 | 7,950,500 | 7,971,600 | 6,083,900 | 5,488,800 |
| ROA | 6.13% | 9.52% | 9.28% | 9.14% | 5.53% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $503,000K ÷ $8,209,800K
= 6.13%
Avery Dennison Corp's return on assets (ROA) has shown fluctuations over the past five years. In 2023, the ROA decreased to 6.13% from 9.52% in 2022. This decrease indicates a decline in the company's ability to generate profit from its assets compared to the previous year. Looking back further, the ROA was relatively stable in 2021 and 2020 at around 9%, suggesting consistent asset efficiency during those years. In 2019, the ROA was lower at 5.53%, indicating a less efficient use of assets compared to the subsequent years. Overall, the company's ROA performance has varied, with a notable decrease in 2023, highlighting potential changes in asset management effectiveness.
Peer comparison
Dec 31, 2023