IDEXX Laboratories Inc (IDXX)

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	1,097,128	1,078,353	1,047,898	930,820	898,765	871,429	852,563	932,750	932,028	917,932	863,826	797,821	694,524	625,060	593,006	564,033	552,846	552,562	530,110	511,429
Total assets	US$ in thousands	3,259,920	3,086,400	2,870,810	2,808,400	2,746,760	2,640,070	2,607,180	2,592,690	2,437,200	2,385,740	2,412,150	2,327,380	2,294,560	2,047,410	1,960,710	1,886,240	1,832,480	1,751,480	1,724,240	1,680,970
Operating ROA		33.66%	34.94%	36.50%	33.14%	32.72%	33.01%	32.70%	35.98%	38.24%	38.48%	35.81%	34.28%	30.27%	30.53%	30.24%	29.90%	30.17%	31.55%	30.74%	30.42%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,097,128K ÷ $3,259,920K
= 33.66%

To analyze Idexx Laboratories, Inc.'s operating return on assets (ROA), we look at the trend over the past eight quarters. The operating ROA has been relatively stable, ranging from 32.70% to 36.50%. This indicates that the company has been able to generate consistent operating profits relative to its total assets.

The highest operating ROA of 36.50% was achieved in Q2 2023, showing the company's efficiency in generating operating income from its assets during that period. The lowest operating ROA of 32.70% was recorded in Q3 2022, indicating slightly lower profitability during that quarter.

Overall, Idexx Laboratories, Inc. has maintained a healthy operating ROA performance, demonstrating effective management of its assets to generate operating profits. This consistent performance suggests the company's operational efficiency and effectiveness in utilizing its assets to generate revenue.