Manhattan Associates Inc (MANH)

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	209,881	195,721	179,043	165,813	152,700	135,138	140,776	142,880	134,333	135,387	127,955	115,290	114,061	110,933	110,954	111,844	115,924	125,131	126,230	134,333
Total assets	US$ in thousands	673,353	572,995	526,994	530,843	570,178	514,719	514,289	511,754	539,708	514,283	474,997	458,528	465,412	416,981	380,389	348,044	372,279	380,297	372,183	359,511
Operating ROA		31.17%	34.16%	33.97%	31.24%	26.78%	26.25%	27.37%	27.92%	24.89%	26.33%	26.94%	25.14%	24.51%	26.60%	29.17%	32.14%	31.14%	32.90%	33.92%	37.37%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $209,881K ÷ $673,353K
= 31.17%

Manhattan Associates, Inc.'s operating return on assets (operating ROA) has been showing a generally positive trend over the past eight quarters, indicating efficient use of its assets to generate operating income. The company's operating ROA increased from 26.78% in Q4 2022 to 31.17% in Q4 2023, demonstrating improved asset utilization and profitability. The operating ROA remained above 30% for the last three quarters, reflecting consistent operational efficiency.

The highest operating ROA of 34.16% was recorded in Q3 2023, showing the company's ability to generate significant operating income relative to its assets during that period. Overall, Manhattan Associates, Inc. has maintained strong operating performance, with operating ROA consistently above 25% in the past eight quarters.

This trend indicates that Manhattan Associates, Inc. has been effectively managing its assets to drive profitability and generate operating income, which is a positive indicator for investors and stakeholders evaluating the company's operational efficiency.