Graco Inc (GGG)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 506,511 | 460,645 | 439,866 | 330,456 | 343,853 |
| Total assets | US$ in thousands | 2,722,010 | 2,438,900 | 2,443,200 | 1,988,130 | 1,692,210 |
| ROA | 18.61% | 18.89% | 18.00% | 16.62% | 20.32% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $506,511K ÷ $2,722,010K
= 18.61%
Graco Inc's return on assets (ROA) has shown a relatively stable performance over the past five years. The ROA has ranged from 16.62% in 2020 to 20.32% in 2019, with the latest figure at 18.61% in 2023. This indicates that, on average, the company generates approximately 18.69 cents of profit for every dollar of assets it holds.
The consistent range of ROA suggests that Graco Inc has been effectively utilizing its assets to generate profits over the years, demonstrating a relatively efficient management of its asset base. It is noteworthy that the ROA has remained above 16%, indicating a solid performance in utilizing the company's assets to generate returns.
However, to provide a more comprehensive analysis, it would be beneficial to compare Graco Inc's ROA with industry peers or historical data to assess its standing and performance in a broader context. Nevertheless, based on the data provided, Graco Inc has maintained a robust level of return on assets, reflecting its ability to generate profits relative to its asset base.
Peer comparison
Dec 31, 2023