Kellanova (K)
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 | 1,505,000 | 1,766,000 | 1,652,000 | 1,558,000 | 1,635,000 | 1,629,000 | 1,708,000 | 1,797,000 | 1,752,000 | 1,808,000 | 1,772,000 | 1,774,000 | 1,761,000 | 1,736,000 | 1,588,000 | 1,479,000 | 1,401,000 | 1,367,000 | 1,500,000 | 1,577,000 |
| Total assets | US$ in thousands | 15,621,000 | 18,695,000 | 18,101,000 | 18,630,000 | 18,496,000 | 19,016,000 | 18,937,000 | 18,612,000 | 18,178,000 | 18,407,000 | 18,213,000 | 18,064,000 | 17,996,000 | 18,922,000 | 18,551,000 | 18,240,000 | 17,564,000 | 17,499,000 | 18,669,000 | 18,465,000 |
| Operating ROA | 9.63% | 9.45% | 9.13% | 8.36% | 8.84% | 8.57% | 9.02% | 9.66% | 9.64% | 9.82% | 9.73% | 9.82% | 9.79% | 9.17% | 8.56% | 8.11% | 7.98% | 7.81% | 8.03% | 8.54% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $1,505,000K ÷ $15,621,000K
= 9.63%
The operating return on assets (operating ROA) for Kellanova has shown a generally positive trend over the past four years. The operating ROA has consistently ranged between 7.81% and 9.82% during this period, indicating that the company generates a relatively stable level of operating income relative to its total assets.
Specifically, the operating ROA increased steadily from 7.81% in March 2019 to its peak of 9.82% in June 2021. Following this peak, there was a slight dip in the operating ROA to 8.36% in March 2023. However, the operating ROA recovered and remained above 9% in the subsequent quarters.
Overall, the operating ROA of Kellanova demonstrates the company's ability to effectively utilize its assets to generate operating income. The consistent positive trend in the operating ROA indicates management efficiency in generating profits from the resources employed in the business operations.
Peer comparison
Dec 31, 2023