Grocery Outlet Holding Corp (GO)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 79,437 | 65,052 | 62,310 | 106,713 | 15,419 |
| Total assets | US$ in thousands | 2,969,590 | 2,772,400 | 2,669,810 | 2,485,620 | 2,185,530 |
| ROA | 2.68% | 2.35% | 2.33% | 4.29% | 0.71% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $79,437K ÷ $2,969,590K
= 2.68%
Over the past five years, Grocery Outlet Holding Corp's return on assets (ROA) has shown some fluctuations. The ROA stood at 2.68% in 2023, an improvement from the previous year's 2.35%. The company's ROA was fairly consistent around the 2-2.5% range in 2022 and 2021. However, there was a significant increase in ROA to 4.29% in 2020, marking a notable performance. In 2019, the ROA was the lowest at 0.71%.
The upward trend in ROA from 2019 to 2020 indicates an improvement in the company's efficiency in generating profits from its assets. Although there was a slight decline in ROA in 2021 and 2022, the company managed to increase it again in 2023, reflecting a positive trend.
Overall, while there have been fluctuations in Grocery Outlet Holding Corp's ROA over the past five years, the company has shown the ability to generate modest returns on its assets, with the most significant improvement seen in 2020.
Peer comparison
Dec 31, 2023