LeMaitre Vascular Inc (LMAT)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	30,105	20,636	26,907	21,220	17,934
Total assets	US$ in thousands	346,778	310,476	292,802	252,810	188,341
ROA		8.68%	6.65%	9.19%	8.39%	9.52%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $30,105K ÷ $346,778K
= 8.68%

The Return on Assets (ROA) of Lemaitre Vascular Inc has shown some fluctuations over the past five years. In 2023, the ROA stood at 8.68%, representing an increase from the previous year's 6.65%. This suggests that the company generated 8.68 cents of profit for each dollar of assets it owns.

Comparing the ROA of 2023 to the rates in 2021 and 2020, we see that there was a decline from 9.19% and 8.39%, respectively. However, the ROA in 2023 remains higher than that of 2019, when it was 9.52%. On average, Lemaitre Vascular Inc has maintained a healthy level of ROA over the past five years, indicating efficient use of assets to generate profits.

It is important to further analyze the factors contributing to these fluctuations in ROA to understand the company's operational efficiency and financial performance.