Graco Inc (GGG)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 646,843 | 572,700 | 531,323 | 391,718 | 424,456 |
| Total assets | US$ in thousands | 2,722,010 | 2,438,900 | 2,443,200 | 1,988,130 | 1,692,210 |
| Operating ROA | 23.76% | 23.48% | 21.75% | 19.70% | 25.08% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $646,843K ÷ $2,722,010K
= 23.76%
Graco Inc's operating return on assets (operating ROA) has been fluctuating over the past five years, with the highest level recorded in 2019 at 25.08% and the lowest in 2020 at 19.70%. The upward trend from 2020 to 2023 indicates an improvement in the company's ability to generate operating income relative to its asset base. The operating ROA peaked in 2023 at 23.76%, showcasing an efficient utilization of assets to generate operating profits. Overall, Graco Inc's performance in terms of operating ROA demonstrates a positive trajectory, suggesting effective asset management and operational efficiency.
Peer comparison
Dec 31, 2023