Griffon Corporation (GFF)
Return on assets (ROA)
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 209,897 | 77,617 | -191,558 | 79,211 | 53,429 |
| Total assets | US$ in thousands | 2,370,950 | 2,418,880 | 2,816,470 | 2,604,680 | 2,448,590 |
| ROA | 8.85% | 3.21% | -6.80% | 3.04% | 2.18% |
September 30, 2024 calculation
ROA = Net income ÷ Total assets
= $209,897K ÷ $2,370,950K
= 8.85%
Griffon Corporation's Return on Assets (ROA) has shown varying performance over the past five years. In Sep 30, 2024, the ROA was at 8.85%, indicating that the company generated 8.85 cents of profit for every dollar of assets. This represents a significant improvement compared to Sep 30, 2023, when the ROA stood at 3.21%. The negative ROA of -6.80% in Sep 30, 2022, suggests that the company incurred a loss relative to its assets. However, the company managed to turn this around in the following years, with ROA figures of 3.04% in Sep 30, 2021, and 2.18% in Sep 30, 2020.
Overall, the trend in ROA indicates improvement in the company's ability to generate profit from its assets, with the most recent year showing a significant leap in performance. This could suggest better operational efficiency, asset utilization, or profitability compared to previous years. It would be advisable to continue monitoring Griffon Corporation's ROA to assess its financial health and performance in utilizing its assets effectively.