Intuit Inc (INTU)
Return on assets (ROA)
| Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 2,963,000 | 2,384,000 | 2,066,000 | 2,062,000 | 1,826,000 |
| Total assets | US$ in thousands | 32,132,000 | 27,780,000 | 27,734,000 | 15,516,000 | 10,931,000 |
| ROA | 9.22% | 8.58% | 7.45% | 13.29% | 16.70% |
July 31, 2024 calculation
ROA = Net income ÷ Total assets
= $2,963,000K ÷ $32,132,000K
= 9.22%
Intuit Inc's return on assets (ROA) has shown a general trend of decline over the past five years, with the ROA decreasing from 16.70% in July 2020 to 9.22% in July 2024. This indicates that the company's efficiency in generating profits from its assets has decreased over time. The ROA of 9.22% in 2024 suggests that for every dollar of assets owned by the company, it generated a profit of 9.22 cents.
It is important to note that a higher ROA indicates better asset utilization and profitability. The drop in ROA could be a result of various factors, such as increased asset base without proportionate growth in profits, declining profit margins, or inefficiencies in asset management.
Further analysis and comparison with industry peers are recommended to better understand the implications of Intuit Inc's ROA trend and to assess its overall financial performance and competitiveness in the industry.
Peer comparison
Jul 31, 2024