Mister Car Wash Inc (MCW)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Net income | US$ in thousands | 80,130 | 112,900 | -22,045 |
| Total assets | US$ in thousands | 2,881,540 | 2,686,230 | 2,448,100 |
| ROA | 2.78% | 4.20% | -0.90% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $80,130K ÷ $2,881,540K
= 2.78%
Mister Car Wash Inc's return on assets (ROA) has exhibited fluctuations over the past three years. In 2023, the ROA stood at 2.78%, showing a decrease from the 4.20% recorded in 2022. This decline indicates that the company's ability to generate profits from its assets has weakened. Furthermore, when compared to the negative ROA of -0.90% in 2021, the current 2023 ROA signifies a positive turnaround in the company's asset utilization efficiency.
Despite the improvement from the previous year, the 2023 ROA of 2.78% suggests that Mister Car Wash Inc may still have room for enhancement in its asset management practices to increase profitability and generate higher returns relative to its total assets. It is essential for the company to continue monitoring and optimizing its asset allocation and operational efficiency to further enhance its financial performance.
Peer comparison
Dec 31, 2023