IDEXX Laboratories Inc (IDXX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 845,042 | 679,089 | 744,845 | 581,776 | 427,720 |
| Total assets | US$ in thousands | 3,259,920 | 2,746,760 | 2,437,200 | 2,294,560 | 1,832,480 |
| ROA | 25.92% | 24.72% | 30.56% | 25.35% | 23.34% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $845,042K ÷ $3,259,920K
= 25.92%
Idexx Laboratories, Inc.'s return on assets (ROA) has shown a positive trend over the past five years, increasing from 23.34% in 2019 to 25.92% in 2023. ROA measures how efficiently the company is generating profits from its assets, and Idexx Laboratories has been successful in improving this metric over time.
The company's ROA was relatively stable from 2019 to 2022, ranging between 23.34% and 24.72%. However, a notable increase was seen in 2023 when the ROA reached 25.92%. This may indicate that Idexx Laboratories improved its asset utilization or operational efficiency in generating profits during that period.
Overall, the upward trend in Idexx Laboratories' ROA over the past five years suggests that the company has been effectively managing its assets to generate higher returns for its shareholders. It indicates a positive performance in utilizing its resources efficiently to drive profitability.
Peer comparison
Dec 31, 2023