Fulgent Genetics Inc (FLGT)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | -167,825 | 143,403 | 507,364 | 214,310 | -411 |
| Total assets | US$ in thousands | 1,235,330 | 1,386,050 | 1,278,720 | 700,461 | 88,756 |
| ROA | -13.59% | 10.35% | 39.68% | 30.60% | -0.46% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $-167,825K ÷ $1,235,330K
= -13.59%
Return on Assets (ROA) is a key financial ratio that measures a company's ability to generate profits from its assets. Fulgent Genetics Inc's ROA has fluctuated over the past five years, as indicated in the table.
In 2023, the company experienced a negative ROA of -13.59%, which signifies that the company incurred a loss relative to its total assets. This could be attributed to declining profitability or inefficient asset utilization during the period.
In contrast, in 2022 and 2021, Fulgent Genetics Inc achieved positive ROA figures of 10.35% and 39.68%, respectively. These percentages indicate that the company generated profits in relation to its total assets, with 2021 reflecting a significant improvement in asset efficiency and profitability.
In 2020 and 2019, the company also recorded positive ROA figures of 30.60% and -0.46%, respectively. Despite the slight decline in 2020 compared to 2021, Fulgent Genetics Inc maintained a strong ROA, indicating efficient asset utilization and profitability.
Overall, the fluctuating ROA of Fulgent Genetics Inc highlights the company's varying performance in generating profits from its assets over the past five years. It is important for investors and stakeholders to closely monitor this ratio to assess the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023