Exelixis Inc (EXEL)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	207,765	182,282	231,063	111,781	321,012
Total assets	US$ in thousands	2,942,360	3,071,490	2,616,240	2,137,330	1,885,670
ROA		7.06%	5.93%	8.83%	5.23%	17.02%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $207,765K ÷ $2,942,360K
= 7.06%

Exelixis Inc's return on assets (ROA) has exhibited fluctuations over the past five years. The company's ROA stood at 7.06% at the end of 2023, compared to 5.93% in 2022, 8.83% in 2021, 5.23% in 2020, and 17.02% in 2019. The downward trend from 2019 to 2020 was followed by an increase in 2021 and a further rise in 2023.

Although the ROA decreased in 2022, it rebounded in 2023, indicating an improvement in the company's efficiency in generating earnings from its assets. These fluctuations in ROA suggest varying levels of profitability and efficiency in asset utilization over the years.

Overall, the company's ROA performance indicates that management may have made adjustments to improve asset efficiency and profitability during the period under review. Further analysis and consideration of other financial metrics would be necessary for a comprehensive evaluation of the company's financial performance.