Innoviva Inc (INVA)

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	179,722	49,877	233,354	233,013	213,921	292,580	99,495	187,504	265,854	309,412	265,192	253,088	224,402	216,448	228,039	188,935	157,288	375,099	382,379	399,265
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
ROA		14.45%	4.20%	20.87%	20.62%	17.37%	22.04%	8.75%	16.93%	28.70%	34.87%	33.60%	23.26%	22.45%	23.47%	25.92%	23.98%	21.70%	55.49%	59.53%	67.66%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $179,722K ÷ $1,243,510K
= 14.45%

Innoviva Inc has demonstrated varying levels of return on assets (ROA) over the past eight quarters. The Q2 and Q1 of 2023 recorded robust ROA figures of 20.87% and 20.62% respectively, indicating that the company efficiently utilizes its assets to generate profits during these periods.

However, in Q4 of 2023, the ROA dropped to 14.45%, which could suggest a slight decrease in asset efficiency compared to the previous quarters. The performance in Q3 of 2023, with an ROA of 4.20%, was notably lower than the other quarters, indicating a potential dip in asset utilization efficiency during that period.

Looking back at Q4 of 2022, Innoviva Inc achieved an ROA of 17.37%, which was lower than the Q2 and Q1 of 2022 figures of 22.04% and 16.93% respectively, indicating some fluctuation in asset efficiency throughout the year.

Overall, while the company has shown strong ROA in certain quarters, there appear to be fluctuations in asset efficiency over time. It may be beneficial for stakeholders to closely monitor these fluctuations in ROA to assess the company's ability to generate profits from its assets consistently.