Green Brick Partners Inc (GRBK)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	355,105	326,221	324,160	357,552	352,982	364,828	332,387	272,280	227,690	187,457	168,539	129,771	122,370	109,987	90,925	80,686	69,966	69,171	66,203	69,272
Total assets	US$ in thousands	1,902,830	1,866,650	1,776,570	1,706,460	1,655,680	1,657,740	1,588,270	1,528,660	1,421,870	1,347,320	1,287,140	1,079,920	988,847	944,582	910,248	975,180	875,539	865,789	832,961	793,020
Operating ROA		18.66%	17.48%	18.25%	20.95%	21.32%	22.01%	20.93%	17.81%	16.01%	13.91%	13.09%	12.02%	12.38%	11.64%	9.99%	8.27%	7.99%	7.99%	7.95%	8.74%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $355,105K ÷ $1,902,830K
= 18.66%

To analyze Green Brick Partners Inc's operating return on assets (operating ROA) based on the data provided, we observe that the operating ROA has fluctuated over the past eight quarters. The company's operating ROA ranged from 17.80% to 22.01% during this period.

In the most recent quarter, Q4 2023, the operating ROA was 18.67%, which was lower than the previous quarter's figure of 17.80% in Q3 2023. This indicates a slight decrease in the company's ability to generate operating income from its assets compared to the previous quarter.

Despite this recent decrease, it is worth noting that Green Brick Partners Inc has demonstrated relatively consistent performance in terms of operating ROA over the past two years. The company achieved its highest operating ROA of 22.01% in Q3 2022, and the lowest was 17.82% in Q1 2022.

Overall, Green Brick Partners Inc's operating ROA shows some variability in the short-term but has generally remained within a relatively stable range over the longer term. Further analysis and comparison with industry benchmarks may provide additional insights into the company's profitability and operational efficiency.