Exelixis Inc (EXEL)

Operating return on assets (Operating 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
Operating income (ttm)	US$ in thousands	170,885	41,019	141,215	147,071	201,484	366,206	335,214	374,516	286,666	194,319	100,118	52,644	110,060	163,079	321,265	337,720	369,470	403,756	413,326	407,107
Total assets	US$ in thousands	2,942,360	2,976,910	3,142,470	3,143,360	3,071,490	2,961,370	2,881,400	2,654,120	2,616,240	2,447,740	2,367,270	2,190,540	2,137,330	2,111,040	2,046,550	1,955,600	1,885,670	1,784,860	1,643,100	1,541,790
Operating ROA		5.81%	1.38%	4.49%	4.68%	6.56%	12.37%	11.63%	14.11%	10.96%	7.94%	4.23%	2.40%	5.15%	7.73%	15.70%	17.27%	19.59%	22.62%	25.16%	26.40%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $170,885K ÷ $2,942,360K
= 5.81%

The operating return on assets (ROA) of Exelixis Inc has shown fluctuation over the periods indicated in the data provided. The operating ROA measures the company's efficiency in generating profits from its assets used in its operations.

From Dec 2019 to Sep 2020, the operating ROA trended upwards from 19.59% to 26.40%, indicating improving operational efficiency in generating income relative to its assets during this period. However, after Sep 2020, the operating ROA started to decline steadily, reaching 5.81% by Dec 2023.

It is worth noting that the operating ROA peaked in Mar 2020 at 25.16%, after which it saw a significant decline. The steep fluctuations in the operating ROA over the periods suggest that Exelixis Inc's operational performance has been volatile and may indicate varying levels of operational effectiveness and efficiency in recent years.

Further analysis of the company's operational strategies, asset management practices, and overall profitability trends would be necessary to fully understand the factors contributing to the observed fluctuations in the operating ROA of Exelixis Inc.