Kellanova (K)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,505,000 | 1,211,000 | 1,752,000 | 1,761,000 | 1,401,000 |
| Total assets | US$ in thousands | 15,621,000 | 18,496,000 | 18,178,000 | 17,996,000 | 17,564,000 |
| Operating ROA | 9.63% | 6.55% | 9.64% | 9.79% | 7.98% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $1,505,000K ÷ $15,621,000K
= 9.63%
The operating return on assets (operating ROA) for Kellanova has shown a fluctuating trend over the past five years. In 2023, the operating ROA increased to 9.63% from 6.55% in 2022, indicating improved efficiency in generating operating income relative to the total assets employed in the business. However, this still falls slightly below the 2019 level of 9.79%. The 2021 operating ROA of 9.64% was comparable to the 2023 figure, suggesting relative stability in the company's profitability performance. Overall, Kellanova has demonstrated consistent ability to generate operating income in relation to its assets, with some variability in the recent years.
Peer comparison
Dec 31, 2023