General Dynamics Corporation (GD)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 3,315,000 | 3,390,000 | 3,257,000 | 3,167,000 | 3,484,000 |
| Total assets | US$ in thousands | 54,810,000 | 51,585,000 | 50,073,000 | 51,308,000 | 49,349,000 |
| ROA | 6.05% | 6.57% | 6.50% | 6.17% | 7.06% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $3,315,000K ÷ $54,810,000K
= 6.05%
General Dynamics Corp.'s return on assets (ROA) has exhibited a fluctuating trend over the past five years. The ROA ranged from a high of 7.13% in 2019 to a low of 6.05% in 2023. This indicator reflects the company's ability to generate profits relative to its total assets.
The overall trend suggests that General Dynamics has been able to effectively utilize its assets to generate profits, as indicated by consistently positive ROA values above 6%. However, the slight decline in ROA from 2022 to 2023 may indicate a potential decrease in profitability relative to its asset base during that period.
It is important for General Dynamics to continue monitoring and optimizing its asset management strategies to maintain or improve its ROA in order to remain competitive and sustain profitability in the long term.
Peer comparison
Dec 31, 2023