Doximity Inc (DOCS)

Operating return on assets (Operating ROA)

		Mar 31, 2024	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
Operating income (ttm)	US$ in thousands	163,878	154,867	134,800	133,109	125,108	120,188	117,493	110,343	113,536
Total assets	US$ in thousands	1,079,370	1,000,650	1,025,570	1,153,510	1,136,890	1,067,090	1,028,340	1,050,930	991,357	932,172	869,255	830,182
Operating ROA		15.18%	15.48%	13.14%	11.54%	11.00%	11.26%	11.43%	10.50%	11.45%

March 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $163,878K ÷ $1,079,370K
= 15.18%

To analyze Doximity Inc's operating return on assets (operating ROA) based on the provided data, we observe fluctuations in the ratio over the past few quarters. Operating ROA indicates the company's efficiency in generating operating profits relative to its total assets.

The operating ROA for Doximity Inc has shown a generally positive trend over the last few quarters, with a peak of 15.48% in December 2023. This indicates that the company has been able to effectively utilize its assets to generate operating income during that period.

However, there was a slight dip in the operating ROA in the following quarter (March 31, 2024) to 15.18%. Despite this decrease, the ratio remains at a relatively high level, reflecting continued operational efficiency.

Comparing these figures to historical data, we see improvements in operating ROA from 11.45% in March 2022 to the latest value of 15.18% in March 2024. This suggests that Doximity Inc has been progressively enhancing its operational efficiency and profitability over time.

Overall, the trend in Doximity Inc's operating return on assets indicates a positive performance in utilizing its assets to generate operating income, reflecting the company's effective management and potentially sustainable growth prospects.