L3Harris Technologies Inc (LHX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,227,000 | 1,062,000 | 1,846,000 | 1,119,000 | 949,000 |
| Total assets | US$ in thousands | 41,687,000 | 33,524,000 | 34,709,000 | 36,960,000 | 10,117,000 |
| ROA | 2.94% | 3.17% | 5.32% | 3.03% | 9.38% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,227,000K ÷ $41,687,000K
= 2.94%
The return on assets (ROA) of L3Harris Technologies Inc has shown fluctuation over the past five years.
In 2023, the ROA decreased to 2.94% from 3.17% in 2022. This decline indicates that the company's ability to generate profits from its assets slightly weakened in 2023 compared to the previous year.
The ROA was significantly higher in 2021 at 5.32%, showing a strong performance in that year. However, there was a decrease in 2020 to 3.03%, which was lower than the peak performance in 2021.
The ROA reached its highest point in the analyzed period in June 2019 at 9.38%. This indicates that the company was very efficient in generating profits from its assets at that time.
Overall, the trend in ROA shows some variability, and it is important for stakeholders to monitor these fluctuations to understand how well L3Harris Technologies Inc is utilizing its assets to generate profits.
Peer comparison
Dec 31, 2023