LeMaitre Vascular Inc (LMAT)

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	36,712	26,829	36,425	28,788	21,183
Total assets	US$ in thousands	346,778	310,476	292,802	252,810	188,341
Operating ROA		10.59%	8.64%	12.44%	11.39%	11.25%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $36,712K ÷ $346,778K
= 10.59%

Lemaitre Vascular Inc's operating return on assets (operating ROA) has shown some fluctuation over the past five years. The company's operating ROA was 10.73% as of December 31, 2023, which represents an improvement compared to the prior year. However, in 2022, the operating ROA was 9.64%, marking a slight decrease from the year before.

Looking back further, in 2021, the operating ROA was at its peak of 12.44%, indicating strong operational efficiency in utilizing its assets to generate operating profits. The operating ROA was relatively consistent in 2020 and 2019, standing at 11.20% and 11.25%, respectively.

Overall, Lemaitre Vascular Inc has demonstrated a satisfactory level of operating ROA performance, with some variability year over year. It is important for the company to consistently monitor and manage its asset utilization to maintain or improve its operating ROA in order to ensure sustainable profitability.