Innoviva Inc (INVA)

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	17,352	-158,661	104,766	182,699	248,151	264,446	106,992	120,978	122,732	355,363	345,240	324,491	321,123	309,975	286,338	270,307	246,360	249,941	246,809	249,724
Total assets	US$ in thousands	1,243,510	1,188,100	1,118,240	1,129,770	1,231,500	1,327,710	1,137,640	1,107,470	926,395	887,239	789,150	1,088,290	999,570	922,256	879,619	788,011	724,826	675,953	642,307	590,114
Operating ROA		1.40%	-13.35%	9.37%	16.17%	20.15%	19.92%	9.40%	10.92%	13.25%	40.05%	43.75%	29.82%	32.13%	33.61%	32.55%	34.30%	33.99%	36.98%	38.43%	42.32%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $17,352K ÷ $1,243,510K
= 1.40%

Operating Return on Assets (Operating ROA) is a key profitability ratio that measures a company's ability to generate operating income from its total assets. Innoviva Inc's Operating ROA has shown fluctuations over the past eight quarters, ranging from as low as 8.77% in Q2 2023 to as high as 33.71% in Q1 2022.

The trend in Innoviva Inc's Operating ROA indicates a peak in Q2 and Q3 2022, where it reached 31.59% and 33.71%, respectively. This was followed by a decline in subsequent quarters, particularly Q2 and Q3 2023. The recent uptick in Q4 2023 to 17.13% shows a slight improvement compared to the previous two quarters.

Overall, the varying Operating ROA figures suggest fluctuations in Innoviva Inc's profitability relative to its asset base. Further analysis of the company's operational efficiency, asset utilization, and profitability drivers may be necessary to understand the factors contributing to these fluctuations and to assess the company's long-term financial health.