Fulgent Genetics Inc (FLGT)
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 | -195,529 | -80,960 | -80,822 | -48,230 | 178,527 | 365,939 | 524,860 | 610,964 | 675,953 | 751,002 | 655,252 | 558,994 | 290,158 | 63,840 | 1,826 | -519 | -428 | -1,048 | -3,403 | -4,699 |
| Total assets | US$ in thousands | 1,235,330 | 1,358,400 | 1,354,580 | 1,376,770 | 1,386,050 | 1,405,780 | 1,461,660 | 1,465,590 | 1,278,720 | 1,204,670 | 1,049,860 | 999,083 | 700,461 | 247,311 | 95,915 | 89,325 | 88,756 | 61,145 | 56,436 | 55,652 |
| Operating ROA | -15.83% | -5.96% | -5.97% | -3.50% | 12.88% | 26.03% | 35.91% | 41.69% | 52.86% | 62.34% | 62.41% | 55.95% | 41.42% | 25.81% | 1.90% | -0.58% | -0.48% | -1.71% | -6.03% | -8.44% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $-195,529K ÷ $1,235,330K
= -15.83%
Fulgent Genetics Inc's operating return on assets (operating ROA) has exhibited a downward trend over the past few quarters, reflecting a decline in the company's ability to generate operating income from its assets. In Q4 2023, the operating ROA stood at -6.10%, indicating that the company incurred an operating loss relative to its asset base. This marks a continuation of the negative operating ROA observed in the previous three quarters, suggesting persistent operational challenges.
Comparing the recent performance to previous periods, Fulgent Genetics Inc's operating ROA was notably higher in the corresponding quarter of 2022, at 13.09%, before experiencing significant declines. The peak operating ROA of 41.69% in Q1 2022 underscores a period of strong operational efficiency and profitability for the company.
The substantial decrease in operating ROA since Q1 2022 suggests that Fulgent Genetics Inc may be facing difficulties in effectively utilizing its assets to generate operating income. Investors and stakeholders may be concerned about the company's operational performance and its ability to improve profitability moving forward. Further analysis of the company's financial and operational strategies may be necessary to address the challenges impacting its operating ROA.
Peer comparison
Dec 31, 2023