Fulgent Genetics Inc (FLGT)
Return on equity (ROE)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | -167,825 | -63,508 | -48,682 | -25,916 | 143,403 | 271,574 | 392,377 | 460,652 | 507,364 | 569,332 | 493,448 | 416,957 | 214,310 | 47,707 | 2,531 | -459 | -411 | -2,168 | -4,225 | -5,605 |
| Total stockholders’ equity | US$ in thousands | 1,136,100 | 1,258,700 | 1,259,760 | 1,264,450 | 1,266,680 | 1,277,050 | 1,304,760 | 1,306,130 | 1,158,750 | 1,036,780 | 912,729 | 801,566 | 569,387 | 186,955 | 87,043 | 81,372 | 82,777 | 54,526 | 51,142 | 49,961 |
| ROE | -14.77% | -5.05% | -3.86% | -2.05% | 11.32% | 21.27% | 30.07% | 35.27% | 43.79% | 54.91% | 54.06% | 52.02% | 37.64% | 25.52% | 2.91% | -0.56% | -0.50% | -3.98% | -8.26% | -11.22% |
December 31, 2023 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $-167,825K ÷ $1,136,100K
= -14.77%
Fulgent Genetics Inc's return on equity (ROE) has exhibited a declining trend over the past eight quarters. ROE measures the profitability of a company by indicating how efficiently it generates profit from its equity.
In Q4 2023, the ROE was negative at -14.77%, showing that the company incurred a net loss relative to its equity. This negative trend continued in Q3 2023 and Q2 2023, with ROE figures of -5.05% and -3.86% respectively, indicating ongoing financial challenges for the company.
The ROE improved slightly in Q1 2023 to -2.05%, but it remained negative. This contrasted with the positive ROE seen in the previous quarters of 2022. In Q4 2022, Fulgent Genetics Inc achieved an ROE of 11.32%, which increased significantly to 21.27% in Q3 2022 and further improved to 30.07% in Q2 2022. The highest ROE during this period was recorded in Q1 2022 at 35.27%.
Overall, the declining trend in ROE for Fulgent Genetics Inc suggests increasing challenges in generating profit from its equity compared to the performance seen in 2022. It is essential for the company to analyze the factors contributing to this trend and enact strategic measures to improve its profitability and efficiency in utilizing equity in the future.
Peer comparison
Dec 31, 2023