Granite Construction Incorporated (GVA)
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 | 80,062 | 76,072 | 56,953 | 57,841 | 85,381 | 66,855 | 55,888 | 60,928 | -2,876 | 6,984 | -122,549 | -159,486 | -158,345 | -154,090 | -14,798 | -41,131 | -41,724 | -94,582 | -64,497 | -22,090 |
| Total assets | US$ in thousands | 2,813,540 | 2,580,320 | 2,376,580 | 2,077,390 | 2,167,930 | 2,402,650 | 2,284,910 | 2,263,280 | 2,494,930 | 2,561,760 | 2,478,900 | 2,373,680 | 2,380,000 | 2,488,270 | 2,508,650 | 2,384,380 | 2,502,090 | 2,612,660 | 2,524,620 | 2,358,600 |
| Operating ROA | 2.85% | 2.95% | 2.40% | 2.78% | 3.94% | 2.78% | 2.45% | 2.69% | -0.12% | 0.27% | -4.94% | -6.72% | -6.65% | -6.19% | -0.59% | -1.73% | -1.67% | -3.62% | -2.55% | -0.94% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $80,062K ÷ $2,813,540K
= 2.85%
Granite Construction Inc.'s operating return on assets (ROA) has shown fluctuations over the past eight quarters. The operating ROA ranged from a low of 1.84% in Q4 2023 to a high of 4.47% in Q4 2022. The average operating ROA over this period is approximately 2.84%.
The declining trend in operating ROA from Q4 2022 to Q4 2023 indicates a decrease in the company's operating efficiency and profitability relative to its total assets. It is essential for Granite Construction Inc. to closely monitor and address any factors contributing to this decline in order to improve its operational performance and maximize returns on assets in the future.
Peer comparison
Dec 31, 2023