Gates Industrial Corporation plc (GTES)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 232,900 | 220,800 | 297,100 | 79,400 | 690,100 |
| Total assets | US$ in thousands | 7,254,500 | 7,191,600 | 7,533,000 | 7,426,300 | 7,411,300 |
| ROA | 3.21% | 3.07% | 3.94% | 1.07% | 9.31% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $232,900K ÷ $7,254,500K
= 3.21%
Gates Industrial Corporation plc's return on assets (ROA) has fluctuated over the past five years, ranging from 1.07% in 2020 to 9.31% in 2019. The ROA was 3.21% in 2023, slightly higher than the previous year's 3.07%. Despite the recent variations, the company has maintained a positive ROA, indicating its ability to generate profit relative to its total assets. However, the downward trend in ROA from 2019 to 2020 followed by a recovery in subsequent years suggests some level of volatility in the company's asset utilization efficiency and profitability. Further analysis of the company's financial performance and asset management strategies may provide insights into the factors driving these fluctuations in ROA.
Peer comparison
Dec 31, 2023