Flowers Foods Inc (FLO)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Oct 7, 2023	Jul 15, 2023	Apr 22, 2023	Dec 31, 2022	Oct 8, 2022	Apr 23, 2022	Dec 31, 2021	Oct 9, 2021	Jul 17, 2021	Apr 24, 2021	Dec 31, 2020	Sep 30, 2020	Jul 11, 2020	Apr 18, 2020	Dec 31, 2019	Oct 5, 2019	Jul 13, 2019	Apr 20, 2019	Dec 31, 2018
Operating income (ttm)	US$ in thousands	172,870	187,067	301,867	325,288	285,291	273,314	291,784	294,920	318,565	319,438	324,726	321,488	247,933	253,595	246,720	225,428	251,582	246,380	226,310	212,344
Total assets	US$ in thousands	3,426,950	3,434,640	3,505,840	3,481,870	3,312,990	3,343,310	3,332,340	3,253,310	3,323,400	3,325,930	3,272,020	3,323,020	3,385,470	3,398,790	3,413,070	3,177,780	3,209,430	3,219,790	3,239,330	2,845,540
Operating ROA		5.04%	5.45%	8.61%	9.34%	8.61%	8.17%	8.76%	9.07%	9.59%	9.60%	9.92%	9.67%	7.32%	7.46%	7.23%	7.09%	7.84%	7.65%	6.99%	7.46%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $172,870K ÷ $3,426,950K
= 5.04%

Operating return on assets (operating ROA) is a key profitability ratio that indicates how efficiently a company is generating profits from its assets used in operations. Flowers Foods Inc's operating ROA has shown some fluctuations over the past few quarters. It ranged from a low of 5.04% in Dec 31, 2023, to a high of 9.92% in Apr 24, 2021, before stabilizing around 8-9% in more recent periods.

The upward trend in operating ROA from Jul 17, 2021, to Apr 24, 2021, indicates an improvement in the company's operational efficiency and profitability. However, the slight decline in more recent quarters raises the need for further analysis to understand the factors driving these changes.

Overall, Flowers Foods Inc's operating ROA performance demonstrates a reasonable level of profitability from its operating assets, with a focus on maintaining and potentially improving efficiency to drive sustainable growth and shareholder value.