Haynes International Inc (HAYN)
Return on assets (ROA)
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 41,975 | 45,087 | -8,683 | -6,478 | 9,745 |
| Total assets | US$ in thousands | 706,281 | 632,295 | 546,455 | 560,724 | 593,800 |
| ROA | 5.94% | 7.13% | -1.59% | -1.16% | 1.64% |
September 30, 2023 calculation
ROA = Net income ÷ Total assets
= $41,975K ÷ $706,281K
= 5.94%
Haynes International Inc.'s return on assets (ROA) measures the company's ability to generate profit from its assets. The ROA has fluctuated over the past five years, with a notable increase from -1.59% in 2021 to 7.13% in 2022. However, in 2023, the ROA decreased to 5.94%. This indicates that the company's profitability in relation to its assets has decreased year over year. The negative ROA in 2020 and 2021 suggests that the company was not effectively utilizing its assets to generate profits. It is important for Haynes International Inc. to further assess its asset management and profitability strategies to improve its ROA performance and ensure efficient use of its resources.
Peer comparison
Sep 30, 2023