Cavco Industries Inc (CVCO)
Operating return on assets (Operating ROA)
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 178,982 | 296,609 | 202,496 | 88,825 | 84,907 |
| Total assets | US$ in thousands | 1,354,160 | 1,307,980 | 1,154,970 | 951,833 | 810,431 |
| Operating ROA | 13.22% | 22.68% | 17.53% | 9.33% | 10.48% |
March 31, 2024 calculation
Operating ROA = Operating income ÷ Total assets
= $178,982K ÷ $1,354,160K
= 13.22%
Cavco Industries Inc's operating return on assets (operating ROA) has fluctuated over the past five years. The company's operating ROA was at its peak in the fiscal year ending March 31, 2023, at 22.68%, indicating strong operating performance relative to its assets. However, there was a significant drop in the operating ROA in the following fiscal year ending March 31, 2024, to 13.22%.
Despite this decline, Cavco Industries Inc's operating ROA remained above 10% in both the fiscal years ending March 31, 2020 and 2021. This suggests that the company has been able to generate a consistent level of operating income relative to its assets during these years.
Overall, the trend in Cavco Industries Inc's operating ROA indicates some variability in the company's operating efficiency and profitability over the last five years. It will be important for stakeholders to monitor this metric closely to assess the company's ability to generate operating income from its asset base.