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.
Peer comparison
Dec 31, 2023