Celanese Corporation (CE)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,960,000 | 1,894,000 | 1,890,000 | 1,985,000 | 852,000 |
| Total assets | US$ in thousands | 26,597,000 | 26,272,000 | 11,975,000 | 10,909,000 | 9,476,000 |
| ROA | 7.37% | 7.21% | 15.78% | 18.20% | 8.99% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,960,000K ÷ $26,597,000K
= 7.37%
Celanese Corp's return on assets (ROA) has exhibited fluctuations over the past five years. The ROA decreased from 8.99% in 2019 to 7.21% in 2022, indicating a slight decline in the company's ability to generate profit from its assets during that period. However, there was a significant increase in ROA to 15.78% in 2021, followed by a decrease to 7.37% in 2023.
The ROA of 18.20% in 2020 was the highest over the given period, suggesting strong profitability relative to the assets employed. The subsequent declines in ROA in 2021, 2022, and 2023 may raise concerns about Celanese Corp's asset utilization efficiency and profitability. Investors and stakeholders may want to further investigate the factors contributing to these fluctuations in ROA to assess the company's financial performance and management effectiveness.
Peer comparison
Dec 31, 2023