Cohu Inc (COHU)
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 | 43,272 | 125,557 | 201,518 | 3,260 | -52,328 |
| Total assets | US$ in thousands | 1,150,350 | 1,227,410 | 1,259,040 | 1,090,350 | 1,077,710 |
| Operating ROA | 3.76% | 10.23% | 16.01% | 0.30% | -4.86% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $43,272K ÷ $1,150,350K
= 3.76%
Operating return on assets (ROA) measures a company's operating income generated relative to its total assets. Looking at Cohu Inc's operating ROA over the past five years, we observe a fluctuating trend. In 2023, the operating ROA was 3.76%, a decrease from the previous year's 10.23%. Moving back to 2021, Cohu Inc experienced a significant increase in operating ROA to 16.01%, demonstrating strong operating efficiency and asset utilization. However, in 2020, the operating ROA dropped to 0.30%, indicating a decline in profitability compared to the prior year. In 2019, Cohu Inc reported a negative operating ROA of -4.86%, reflecting operational inefficiencies and poor asset utilization.
Overall, Cohu Inc's operating ROA has shown inconsistency over the past five years, with significant fluctuations in performance. This suggests that the company's ability to generate operating income from its assets has been volatile, necessitating further analysis to identify the underlying factors driving these fluctuations and potential strategies for improvement.
Peer comparison
Dec 31, 2023