American States Water Company (AWR)
Return on assets (ROA)
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Net income | US$ in thousands | 124,921 | 78,396 | 94,347 | 86,425 | 84,342 |
Total assets | US$ in thousands | 2,246,120 | 2,034,370 | 1,900,980 | 1,791,600 | 1,641,330 |
ROA | 5.56% | 3.85% | 4.96% | 4.82% | 5.14% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $124,921K ÷ $2,246,120K
= 5.56%
American States Water Co.'s return on assets (ROA) has fluctuated over the past five years. The ROA increased from 4.81% in 2020 to 4.95% in 2021, indicating improved asset utilization. However, there was a slight decline in ROA to 3.84% in 2022 before rebounding to 5.55% in 2023. This increase in 2023 suggests enhanced profitability relative to its asset base. Overall, the company has demonstrated the ability to generate varying levels of returns on its assets, with a recent uptick in performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
ROA
American States Water Company
AWR
5.56%
American Water Works
AWK
3.12%
California Water Service Group
CWT
1.13%
Essential Utilities Inc
WTRG
2.96%
Middlesex Water Company
MSEX
2.55%
SJW Corporation
SJW
1.96%