Insteel Industries Inc (IIIN)
Return on assets (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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 22,424 | 32,415 | 51,095 | 79,089 | 113,005 | 125,011 | 125,857 | 105,693 | 81,596 | 66,610 | 48,884 | 37,153 | 26,597 | 19,009 | 9,816 | 5,342 | 2,027 | 5,598 | 16,773 | 27,451 |
| Total assets | US$ in thousands | 390,568 | 447,513 | 445,382 | 428,224 | 423,756 | 471,745 | 481,048 | 420,558 | 368,779 | 390,710 | 371,931 | 336,861 | 309,951 | 337,902 | 336,690 | 319,035 | 306,451 | 293,009 | 304,795 | 311,571 |
| ROA | 5.74% | 7.24% | 11.47% | 18.47% | 26.67% | 26.50% | 26.16% | 25.13% | 22.13% | 17.05% | 13.14% | 11.03% | 8.58% | 5.63% | 2.92% | 1.67% | 0.66% | 1.91% | 5.50% | 8.81% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $22,424K ÷ $390,568K
= 5.74%
Insteel Industries Inc's return on assets (ROA) has shown a fluctuating trend over the past years, as indicated by the data provided in the table. The ROA started at 8.81% in December 2019 and decreased to 1.91% by March 2020, reflecting a significant drop. However, there was a gradual improvement in ROA during 2020 and 2021, reaching 26.67% by December 2022.
Subsequently, the ROA experienced a decline in the first half of 2023, dropping to 11.47% in June and then to 5.74% by December. Despite this, Insteel Industries Inc has still maintained positive ROA figures throughout the period under review, which suggests that the company is efficiently utilizing its assets to generate profits.
Overall, the analysis indicates that Insteel Industries Inc's ROA has been volatile in recent years, with periods of both growth and decline. Continued monitoring of ROA trends will be essential to assess the company's asset management efficiency and overall financial performance.
Peer comparison
Dec 31, 2023