Landstar System Inc (LSTR)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	264,394	430,914	381,524	192,106	227,720
Total assets	US$ in thousands	1,801,850	1,931,880	2,045,460	1,653,800	1,427,710
ROA		14.67%	22.31%	18.65%	11.62%	15.95%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $264,394K ÷ $1,801,850K
= 14.67%

Landstar System Inc's return on assets (ROA) has shown fluctuations over the past five years. In 2023, the company's ROA stood at 14.67%, which was lower compared to 2022 and 2021 where it was 22.31% and 18.65%, respectively. However, the ROA in 2023 was higher than in 2020 and 2019, which were 11.62% and 15.95% respectively.

This suggests that Landstar System Inc was able to generate a profit of 14.67% for every dollar of assets held in 2023. While there was a decrease in ROA from the previous year, the company still performed well in utilizing its assets effectively. It is important to analyze the reasons behind the fluctuations in ROA to understand the company's operational efficiency and overall financial health.