Expeditors International of Washington Inc (EXPD)

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	939,933	1,824,370	1,909,330	940,437	766,692
Total assets	US$ in thousands	4,523,810	5,590,430	7,609,930	4,927,500	3,691,880
Operating ROA		20.78%	32.63%	25.09%	19.09%	20.77%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $939,933K ÷ $4,523,810K
= 20.78%

Expeditors International Of Washington, Inc.'s operating return on assets (operating ROA) has exhibited fluctuations over the past five years. The trend suggests that the company achieved a high operating ROA of 32.63% in 2022, which then decreased to 20.78% in 2023. Overall, the operating ROA has shown strong performance, maintaining above 20% in four out of the five years analyzed. This indicates that the company efficiently utilizes its assets to generate operating income. However, the decrease from 2022 to 2023 may prompt further investigation into the company's operational efficiency and asset utilization strategies to sustain and potentially improve its profitability in the future.