AZZ Incorporated (AZZ)
Return on assets (ROA)
| Feb 29, 2024 | Feb 28, 2023 | Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 101,607 | -52,974 | 84,022 | 39,614 | 48,234 |
| Total assets | US$ in thousands | 2,195,500 | 2,221,480 | 1,133,030 | 999,227 | 1,073,830 |
| ROA | 4.63% | -2.38% | 7.42% | 3.96% | 4.49% |
February 29, 2024 calculation
ROA = Net income ÷ Total assets
= $101,607K ÷ $2,195,500K
= 4.63%
The return on assets (ROA) of AZZ Incorporated has exhibited fluctuations over the past five years. In the fiscal year ending February 29, 2024, the ROA improved significantly to 4.63% compared to the previous year where it was negative at -2.38%. This positive change indicates that the company was able to generate a higher level of profit relative to its assets in the most recent year.
However, looking back at the trend over the past five years, there have been variations in the company's ROA. The fiscal year ending February 28, 2022, marked a particularly strong performance with an ROA of 7.42%, suggesting efficient asset utilization and profitability. This was followed by a slight dip in ROA to 3.96% in the subsequent year, ending February 28, 2021.
The ROA rebounded in the following fiscal year ending February 29, 2020, to 4.49%, indicating a recovery in profitability and asset management. Overall, while there have been fluctuations in AZZ Incorporated's ROA over the period under review, the recent improvement signifies a positive trend in the company's ability to generate earnings relative to its asset base.
Peer comparison
Feb 29, 2024