Diodes Incorporated (DIOD)

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	250,571	408,193	275,985	134,332	200,608
Total assets	US$ in thousands	2,367,660	2,288,310	2,194,500	1,979,460	1,639,380
Operating ROA		10.58%	17.84%	12.58%	6.79%	12.24%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $250,571K ÷ $2,367,660K
= 10.58%

Diodes, Inc.'s operating return on assets (operating ROA) has fluctuated over the past five years. In 2023, the operating ROA decreased to 10.56% from 17.68% in 2022. This decline suggests that the company may have experienced challenges in generating operating profit from its assets efficiently compared to the previous year.

When comparing the 2023 operating ROA to the figures from 2021 and 2020, where it was 12.59% and 6.79%, respectively, the current operating ROA indicates a moderate level of performance. It is important to note that the 2022 operating ROA of 17.68% was a peak in recent years, potentially reflecting a particularly strong period for the company in terms of profitability relative to its assets.

Over the five-year period, Diodes, Inc.'s operating ROA has shown variability, with fluctuations between 6.79% and 17.68%. This suggests that the company's ability to generate operating income from its assets has not been consistent and may be influenced by various internal and external factors. Further analysis of the company's operational efficiency, asset management, and profitability trends could provide deeper insights into its financial performance and strategies.