Celanese Corporation (CE)
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 | 1,687,000 | 1,378,000 | 1,946,000 | 664,000 | 834,000 |
| Total assets | US$ in thousands | 26,597,000 | 26,272,000 | 11,975,000 | 10,909,000 | 9,476,000 |
| Operating ROA | 6.34% | 5.25% | 16.25% | 6.09% | 8.80% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $1,687,000K ÷ $26,597,000K
= 6.34%
Celanese Corp's operating return on assets (ROA) has exhibited fluctuations over the past five years. In 2023, the operating ROA was 4.58%, which represents a decrease from the previous year's 5.26%. This decline may indicate a decrease in the company's profitability relative to its asset base.
Comparing the 2023 operating ROA to earlier years, it stands notably lower than the exceptionally high 16.18% in 2021 and the 10.89% in 2019. These high figures suggest that Celanese Corp had previously been more effective in generating operating income from its assets.
However, the 2023 operating ROA of 4.58% is higher than the 6.55% recorded in 2020, indicating some improvement in profitability efficiency compared to the previous year.
Overall, Celanese Corp's operating ROA has been volatile over the past five years, showing fluctuations in the company's ability to generate operating income relative to its asset base. Continued monitoring and analysis of this ratio will be essential to assess the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2023