Halozyme Therapeutics Inc (HALO)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	337,574	267,531	275,902	144,255	-67,610
Total assets	US$ in thousands	1,733,270	1,841,510	1,104,430	579,924	565,874
Operating ROA		19.48%	14.53%	24.98%	24.87%	-11.95%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $337,574K ÷ $1,733,270K
= 19.48%

Halozyme Therapeutics Inc.'s operating return on assets (operating ROA) has exhibited fluctuations over the past five years. In 2023, the operating ROA stands at 19.48%, showing an improvement from 2022 when it was at 14.53%. This suggests that the company was able to generate more operating income relative to its assets in this period.

Comparing the current operating ROA to that of 2021 (24.98%) and 2020 (24.87%), Halozyme Therapeutics Inc. appears to be slightly less efficient in utilizing its assets to generate operating income in 2023. However, the operating ROA remains at a relatively healthy level.

It is worth noting that in 2019, the company had a negative operating ROA (-11.95%), indicating that it was experiencing challenges in generating operating income relative to its assets. The significant improvement since then highlights the company's efforts to enhance operational efficiency.

Overall, the trend of operating ROA for Halozyme Therapeutics Inc. demonstrates variability, but the current level indicates a reasonable performance in terms of generating operating income from its assets in 2023.