John Bean Technologies Corporation (JBT)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 582,600 | 137,400 | 118,400 | 108,800 | 129,000 |
| Total assets | US$ in thousands | 2,710,400 | 2,641,000 | 2,141,400 | 1,805,900 | 1,914,900 |
| ROA | 21.49% | 5.20% | 5.53% | 6.02% | 6.74% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $582,600K ÷ $2,710,400K
= 21.49%
The return on assets (ROA) for John Bean Technologies Corp has fluctuated over the past five years, indicating varying degrees of efficiency in generating profits from its total assets. In particular, the ROA increased significantly from 6.74% in 2019 to 21.49% in 2023, reflecting a substantial improvement in the company's ability to utilize its assets to generate profits. However, it is noted that the ROA dipped to 5.06% in 2022 before recovering to 5.53% in 2021 and further to 6.02% in 2020.
The pronounced increase in ROA in 2023 suggests that John Bean Technologies Corp has effectively managed its assets to enhance profitability. It indicates that the company has become more efficient in deploying its assets to generate income compared to the previous years. This improvement may be attributed to various factors, such as strategic asset utilization, operational efficiency, or effective cost management.
Overall, the trend in ROA for John Bean Technologies Corp reflects fluctuations in the company's asset efficiency and profit generation capabilities over the analyzed period. The recent surge in ROA to 21.49% in 2023 indicates a positive development in the company's ability to generate profits relative to its total assets.
Peer comparison
Dec 31, 2023