Cognex Corporation (CGNX)

Return on assets (ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	113,234	157,316	172,380	173,807	215,525	213,749	258,669	277,366	279,881	295,691	304,297	225,557	176,186	187,168	141,347	191,238	203,865	203,865	203,865	203,865
Total assets	US$ in thousands	2,017,810	1,989,900	1,998,110	1,974,070	1,958,140	1,900,240	1,943,080	1,934,120	2,003,660	2,048,800	2,024,920	1,908,960	1,800,700	2,060,520	1,934,860	1,885,080	1,885,940	1,390,450	1,349,920	1,353,770
ROA		5.61%	7.91%	8.63%	8.80%	11.01%	11.25%	13.31%	14.34%	13.97%	14.43%	15.03%	11.82%	9.78%	9.08%	7.31%	10.14%	10.81%	14.66%	15.10%	15.06%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $113,234K ÷ $2,017,810K
= 5.61%

Cognex Corp.'s return on assets (ROA) has shown a gradual decline over the past eight quarters. The ROA decreased from 14.34% in Q1 2022 to 5.61% in Q4 2023. This downward trend indicates that the company's ability to generate profits from its assets has diminished over time. It is essential for Cognex Corp. to closely monitor this metric and implement strategies to improve asset utilization and profitability in order to enhance overall financial performance and shareholder value.