Cal-Maine Foods Inc (CALM)
Operating return on assets (Operating ROA)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | Jun 1, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Feb 28, 2023 | Feb 25, 2023 | Nov 30, 2022 | Nov 26, 2022 | Aug 31, 2022 | Aug 27, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 1,542,281 | 1,242,876 | 749,394 | 634,120 | 609,950 | 481,996 | 354,042 | 184,498 | 28,468 | 150,459 | 272,450 | 686,990 | 1,088,016 | 1,211,659 | 1,335,302 | 1,091,369 | 847,436 | 733,267 | 619,098 | 494,818 |
| Total assets | US$ in thousands | 3,102,490 | 3,081,570 | 2,490,100 | 2,390,010 | 2,184,760 | 2,198,940 | 2,133,530 | 2,133,530 | 1,966,800 | 1,966,800 | 1,900,370 | 1,900,370 | 1,954,520 | 1,954,520 | 1,992,480 | 1,992,480 | 1,763,440 | 1,763,440 | 1,554,730 | 1,554,730 |
| Operating ROA | 49.71% | 40.33% | 30.09% | 26.53% | 27.92% | 21.92% | 16.59% | 8.65% | 1.45% | 7.65% | 14.34% | 36.15% | 55.67% | 61.99% | 67.02% | 54.77% | 48.06% | 41.58% | 39.82% | 31.83% |
May 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $1,542,281K ÷ $3,102,490K
= 49.71%
The operating return on assets (ROA) for Cal-Maine Foods Inc. has exhibited significant fluctuations over the period analyzed. Starting from a high of 41.58% on November 26, 2022, the ROA demonstrated a continued upward trend, reaching a peak of 67.02% on February 28, 2023. This indicates a period of strong operational efficiency and effective utilization of assets in generating operating income during this time.
Following this peak, a declining trend is observed, with the ROA decreasing to approximately 36.15% by August 31, 2023, and further dropping to 14.34% by September 2, 2023. The decline continued sharply, with the ROA falling to 7.65% by November 30, 2023, and further diminishing to as low as 1.45% on December 2, 2023. This marked a substantial decline in operational efficiency relative to assets, suggesting possible operational challenges, margin compression, or shifts in asset utilization.
Starting in early 2024, a recovery trend is evident, with the ROA increasing to 8.65% on February 29, 2024, and subsequently rising to 16.59% by March 2, 2024. The upward trajectory persists through May and June of 2024, reaching 21.92% and 27.92%, respectively. The recovery continues into late 2024 and into 2025, with measurements of 30.09% in November 2024, then increasing to 40.33% in February 2025 and 49.71% in May 2025.
Overall, the data indicates a period of robust operational performance culminating in early 2023, followed by a notable decline toward late 2023, and subsequently a stabilization and recovery phase extending into mid-2025. The fluctuations in operating ROA reflect varying operational efficiencies, potential market or industry pressures, and possibly strategic adjustments undertaken by the company over this timeframe.