Middleby Corp (MIDD)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 634,868 | 639,604 | 629,992 | 324,431 | 514,043 |
| Total assets | US$ in thousands | 6,906,690 | 6,874,870 | 6,383,600 | 5,202,470 | 5,002,140 |
| Operating ROA | 9.19% | 9.30% | 9.87% | 6.24% | 10.28% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $634,868K ÷ $6,906,690K
= 9.19%
Middleby Corp's operating return on assets (operating ROA) has fluctuated over the past five years as indicated in the data provided. The operating ROA was 9.19% as of December 31, 2023, slightly lower than the 9.30% recorded in the prior year, 2022. In 2021, the operating ROA was 9.87%, showing a slight decrease from the peak of 10.28% in 2019. The lowest operating ROA during this period was 6.24% in 2020.
Overall, Middleby Corp's operating ROA indicates the company's ability to generate operating profits from its assets. While there have been fluctuations in the operating ROA over the years, it is essential for the company to maintain a stable or increasing trend to demonstrate efficiency in utilizing its assets to generate profits. It is advisable for stakeholders to monitor changes in the operating ROA over time to assess Middleby Corp's operational performance and efficiency.
Peer comparison
Dec 31, 2023