Hubbell Inc (HUBB)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 759,800 | 545,900 | 399,500 | 351,200 | 400,900 |
| Total assets | US$ in thousands | 6,914,000 | 5,402,600 | 5,281,500 | 5,085,100 | 4,903,000 |
| ROA | 10.99% | 10.10% | 7.56% | 6.91% | 8.18% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $759,800K ÷ $6,914,000K
= 10.99%
Hubbell Inc.'s return on assets (ROA) has shown a generally positive trend over the past five years, indicating an improvement in the company's ability to generate profits from its assets. The ROA increased from 8.15% in 2019 to 10.96% in 2023, reaching its highest level during the period. This suggests that Hubbell has been more efficient in utilizing its assets to generate profits for its shareholders. The consistent increase in ROA reflects positively on the company's operational efficiency and management of assets. Overall, Hubbell's improving ROA signifies a strengthening financial performance and effective asset utilization over the years.
Peer comparison
Dec 31, 2023