Benchmark Electronics Inc (BHE)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	109,664	90,069	53,062	25,134	28,545
Total assets	US$ in thousands	2,274,760	2,227,330	1,903,880	1,744,240	1,759,870
Operating ROA		4.82%	4.04%	2.79%	1.44%	1.62%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $109,664K ÷ $2,274,760K
= 4.82%

Benchmark Electronics Inc.'s operating return on assets (operating ROA) has shown a positive trend over the past five years, indicating improved efficiency in generating operating income relative to its total assets. The operating ROA has increased from 2.80% in 2019 to 5.19% in 2023, showcasing a steady growth trajectory. This indicates that the company has been able to generate more operating income for each dollar of assets employed in its operations. This sustained improvement in operating ROA reflects favorable operational performance and effective asset utilization, which are essential for long-term profitability and value creation for the company and its stakeholders.