Enovis Corp (ENOV)
Return on assets (ROA)
| 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 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | -33,261 | -74,828 | -138,560 | -51,710 | -13,292 | 23,404 | 115,864 | 67,651 | 71,657 | 106,776 | 95,123 | 58,434 | 44,868 | -5,207 | -8,928 | -470,115 | -527,646 | -464,889 | -444,053 | 63,638 |
| Total assets | US$ in thousands | 4,509,330 | 4,400,920 | 4,443,550 | 4,299,590 | 4,273,250 | 4,444,820 | 4,503,720 | 8,483,650 | 8,515,910 | 7,972,310 | 7,559,500 | 8,066,610 | 7,351,550 | 7,154,230 | 7,122,520 | 7,455,570 | 7,386,830 | 9,591,270 | 9,899,250 | 10,502,400 |
| ROA | -0.74% | -1.70% | -3.12% | -1.20% | -0.31% | 0.53% | 2.57% | 0.80% | 0.84% | 1.34% | 1.26% | 0.72% | 0.61% | -0.07% | -0.13% | -6.31% | -7.14% | -4.85% | -4.49% | 0.61% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $-33,261K ÷ $4,509,330K
= -0.74%
Enovis Corp's return on assets (ROA) has shown a downward trend over the past eight quarters. The ROA has been negative in the last four quarters, ranging from -0.74% in Q4 2023 to -3.12% in Q2 2023. This indicates that the company's net income generated by its assets has been insufficient or negative during these periods.
Furthermore, the positive ROA values in the preceding quarters have also declined significantly, with the highest ROA reported at 2.57% in Q2 2022. This may suggest a decrease in the company's ability to generate profit relative to its assets over time.
Overall, Enovis Corp's ROA performance reflects a concerning trend of diminishing profitability in relation to its asset base, highlighting potential challenges in effectively utilizing its resources to generate earnings. Further analysis and strategic actions may be necessary to improve the company's ROA and overall financial performance.
Peer comparison
Dec 31, 2023