Coca-Cola Consolidated Inc. (COKE)
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 | 834,451 | 641,047 | 439,171 | 313,378 | 180,754 |
| Total assets | US$ in thousands | 4,288,940 | 3,709,540 | 3,445,570 | 3,222,450 | 3,126,930 |
| Operating ROA | 19.46% | 17.28% | 12.75% | 9.72% | 5.78% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $834,451K ÷ $4,288,940K
= 19.46%
The operating return on assets (ROA) for Coca-Cola Consolidated Inc has shown a favorable upward trend over the past five years, increasing from 5.78% in 2019 to 19.46% in 2023. This indicates that the company has been able to generate a higher operating profit relative to its total assets. The continuous improvement in operating ROA reflects the company's effective management of its assets to generate operating income. The significant increase in operating ROA from 2022 to 2023 suggests that the company has been successful in enhancing operational efficiency and profitability. Overall, the rising trend in operating ROA demonstrates the company's ability to efficiently utilize its assets to generate operating profits, which is a positive indicator of its financial performance and operational effectiveness.
Peer comparison
Dec 31, 2023