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.