LeMaitre Vascular Inc (LMAT)

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	36,712	33,473	30,443	26,775	26,829	28,163	31,086	36,408	36,425	37,669	38,614	32,380	28,788	24,171	20,058	21,101	21,183	23,448	22,156	27,782
Total assets	US$ in thousands	346,778	334,012	326,467	314,866	310,476	302,048	299,425	292,453	292,802	289,473	246,505	247,369	252,810	261,569	255,717	184,557	188,341	170,014	162,661	160,252
Operating ROA		10.59%	10.02%	9.32%	8.50%	8.64%	9.32%	10.38%	12.45%	12.44%	13.01%	15.66%	13.09%	11.39%	9.24%	7.84%	11.43%	11.25%	13.79%	13.62%	17.34%

December 31, 2023 calculation

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

To analyze Lemaitre Vascular Inc's operating return on assets (operating ROA) based on the provided data, we observe the trend over the past eight quarters.

The operating ROA decreased from 12.45% in Q1 2022 to 10.73% in Q4 2023. The trend was relatively stable between Q1 2022 and Q3 2023, ranging from 9.47% to 12.45%, with a peak in Q1 2022.

The recent decline in operating ROA from Q1 2023 to Q4 2023 may indicate a decrease in the company's operational efficiency in generating profits from its assets. It is noteworthy that the operating ROA was higher in the earlier quarters of 2022 compared to the latter half, suggesting a potential change in the company's operating performance.

Further investigation into the underlying factors influencing this trend, such as changes in revenue, expenses, asset utilization, or operating income, would be necessary to provide more insights into Lemaitre Vascular Inc's financial performance and operational efficiency.