Insteel Industries Inc (IIIN)
Return on assets (ROA)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 19,305 | 20,262 | 24,262 | 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 |
| Total assets | US$ in thousands | 422,552 | 414,615 | 397,227 | 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 |
| ROA | 4.57% | 4.89% | 6.11% | 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% |
September 30, 2024 calculation
ROA = Net income (ttm) ÷ Total assets
= $19,305K ÷ $422,552K
= 4.57%
Insteel Industries Inc's return on assets (ROA) has exhibited fluctuations over the past few quarters. The ROA increased from 4.57% in September 2024 to 6.11% in March 2024 before experiencing a slight decline to 5.74% in December 2023.
Notably, there was a significant increase in ROA from September 2023 (7.24%) to March 2023 (18.47%), indicating improved asset utilization and efficiency during that period. However, the ROA peaked at 26.67% in December 2022 before maintaining relatively high levels around 25% in the following quarters.
From a long-term perspective, Insteel Industries Inc has shown a positive trend in ROA, demonstrating improved profitability relative to its assets over the recent years. The ROA has consistently been on an upward trajectory since 2019 when it was at 0.66%.
Overall, Insteel Industries Inc's ROA performance indicates effective management of its assets to generate profits, with the company demonstrating a solid track record of enhancing efficiency and profitability over time.
Peer comparison
Sep 30, 2024