Chemed Corp (CHE)

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	272,509	244,582	226,497	239,576	249,624	262,123	277,253	267,319	268,550	307,677	303,396	328,975	319,466	271,294	262,519	231,147	219,923	208,671	200,973	205,215
Total assets	US$ in thousands	1,668,100	1,562,080	1,505,180	1,431,180	1,442,010	1,356,200	1,312,960	1,305,760	1,342,720	1,318,130	1,383,800	1,458,130	1,434,910	1,366,950	1,291,190	1,277,560	1,268,320	1,232,580	1,094,070	1,069,830
ROA		16.34%	15.66%	15.05%	16.74%	17.31%	19.33%	21.12%	20.47%	20.00%	23.34%	21.92%	22.56%	22.26%	19.85%	20.33%	18.09%	17.34%	16.93%	18.37%	19.18%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $272,509K ÷ $1,668,100K
= 16.34%

Chemed Corp.'s return on assets (ROA) has shown a decreasing trend over the past eight quarters. The ROA decreased from 20.47% in Q1 2022 to 16.34% in Q4 2023. This suggests that the company's ability to generate earnings from its assets has declined over the period. However, it is worth noting that even though the ROA has been decreasing, it has remained above 15% throughout the period, indicating that Chemed Corp. is still efficient in utilizing its assets to generate profit. Further analysis of the company's financial performance and efficiency measures may be necessary to understand the factors driving the changes in ROA.