American Axle & Manufacturing (AXL)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	146,600	171,400	209,800	209,700	243,900	222,700	206,700	215,400	240,600	311,200	416,900	144,900	-396,000	-910,500	-1,166,900	-841,400	-301,600	-284,400	-45,400	25,000
Total assets	US$ in thousands	5,356,300	5,475,000	5,507,400	5,452,900	5,469,400	5,679,600	5,768,700	5,725,000	5,635,700	5,642,500	5,844,900	5,936,900	5,916,300	5,942,100	6,055,000	6,186,700	6,644,600	7,316,300	7,547,900	7,615,500
Operating ROA		2.74%	3.13%	3.81%	3.85%	4.46%	3.92%	3.58%	3.76%	4.27%	5.52%	7.13%	2.44%	-6.69%	-15.32%	-19.27%	-13.60%	-4.54%	-3.89%	-0.60%	0.33%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $146,600K ÷ $5,356,300K
= 2.74%

American Axle & Manufacturing Holdings Inc's operating return on assets (operating ROA) has exhibited a downward trend over the past two years based on the quarterly data provided. In the most recent quarter of Q4 2023, the operating ROA stood at 3.21%, showing a decline from the previous quarter's 3.50%.

Comparing the figures from Q4 2023 to Q4 2022, there is a noticeable decrease in operating ROA from 5.01% to 3.21%. This indicates that the company's ability to generate profits from its assets has weakened over this period.

Although there was a slight increase in operating ROA from Q2 2023 to Q3 2023, the overall trend suggests a need for further analysis into the company's operational efficiency and asset utilization. It may be worth investigating factors such as changes in revenue, expenses, or asset management strategies that could be impacting American Axle & Manufacturing Holdings Inc's operating ROA performance.