IDEX Corporation (IEX)
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 | 732,500 | 747,000 | 769,600 | 756,100 | 751,400 | 738,400 | 697,400 | 669,100 | 637,000 | 613,965 | 583,978 | 536,272 | 520,713 | 515,921 | 526,473 | 571,162 | 579,003 | 584,271 | 587,639 | 580,187 |
| Total assets | US$ in thousands | 5,865,200 | 5,669,600 | 5,719,900 | 5,658,000 | 5,511,900 | 4,892,600 | 4,912,800 | 4,999,700 | 4,917,200 | 4,854,580 | 4,783,000 | 4,460,730 | 4,414,400 | 4,225,600 | 4,073,590 | 3,943,680 | 3,813,900 | 3,713,900 | 3,640,220 | 3,551,460 |
| Operating ROA | 12.49% | 13.18% | 13.45% | 13.36% | 13.63% | 15.09% | 14.20% | 13.38% | 12.95% | 12.65% | 12.21% | 12.02% | 11.80% | 12.21% | 12.92% | 14.48% | 15.18% | 15.73% | 16.14% | 16.34% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $732,500K ÷ $5,865,200K
= 12.49%
Idex Corporation's operating return on assets (operating ROA) has shown a generally positive trend over the past eight quarters, although there have been fluctuations in the percentages. The operating ROA decreased from 14.05% in Q4 2022 to 12.67% in Q4 2023, which indicates a decline in the company's ability to generate profits from its assets through operations over that period.
However, it is important to note that the operating ROA rebounded in the following quarters, reaching 13.35% in Q3 2023 and peaking at 13.87% in Q2 2023. This improvement suggests that Idex Corporation effectively managed its assets to generate higher operating income during these periods.
Subsequently, the operating ROA slightly decreased to 13.76% in Q1 2023. While this is a modest decline, it is crucial for the company to monitor and address any potential inefficiencies that may be affecting its asset utilization and profitability.
Overall, Idex Corporation's operating ROA performance demonstrates a level of operational efficiency and effectiveness in utilizing its assets to generate income. The company should continue to focus on optimizing its asset management strategies to sustain or further improve its operating ROA in the future.
Peer comparison
Dec 31, 2023