Granite Construction Incorporated (GVA)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 43,599 | 83,302 | 10,096 | -145,117 | -60,191 |
| Total assets | US$ in thousands | 2,813,540 | 2,167,930 | 2,494,930 | 2,380,000 | 2,502,090 |
| ROA | 1.55% | 3.84% | 0.40% | -6.10% | -2.41% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $43,599K ÷ $2,813,540K
= 1.55%
Granite Construction Inc.'s Return on Assets (ROA) has fluctuated significantly over the past five years. In 2023, the ROA stands at 1.55%, showing a decline from the previous year's 3.84%. This decline indicates that the company's ability to generate profit from its assets has decreased. Comparing to 2021 when the ROA was 0.40%, the current year's performance represents an improvement. However, it is essential to note that in 2020 and 2019, the company had negative ROA figures, indicating that it was not profitable in those years. Overall, the recent positive ROA in 2023 suggests that Granite Construction Inc. is more effective in utilizing its assets to generate profit compared to the previous year, though further improvements may still be necessary to enhance overall profitability.
Peer comparison
Dec 31, 2023