Comfort Systems USA Inc (FIX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 323,398 | 245,947 | 143,348 | 150,139 | 114,324 |
| Total assets | US$ in thousands | 3,305,580 | 2,597,480 | 2,209,110 | 1,757,360 | 1,505,010 |
| ROA | 9.78% | 9.47% | 6.49% | 8.54% | 7.60% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $323,398K ÷ $3,305,580K
= 9.78%
Comfort Systems USA, Inc.'s return on assets (ROA) has shown a positive trend over the past five years, with values ranging from 6.49% in 2021 to 9.78% in 2023. This indicates the company's ability to generate profits relative to its total assets. The generally increasing trend in ROA suggests improved efficiency in asset utilization and/or higher profitability over the years.
The ROA of 9.78% in 2023 reflects that for every dollar of assets the company holds, it generated a return of approximately 9.78 cents. This implies that Comfort Systems USA, Inc. has been effective in utilizing its assets to generate profits in the most recent year.
Overall, the positive trend in Comfort Systems USA, Inc.'s ROA over the past five years indicates improving operational efficiency and profitability, which could be a positive signal for investors and stakeholders regarding the company's financial performance and management of its assets.
Peer comparison
Dec 31, 2023