MSA Safety (MSA)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	58,583	179,630	21,340	124,077	137,998
Total assets	US$ in thousands	2,170,150	2,376,980	2,396,400	1,919,630	1,781,800
ROA		2.70%	7.56%	0.89%	6.46%	7.74%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $58,583K ÷ $2,170,150K
= 2.70%

The return on assets (ROA) of MSA Safety Inc has exhibited fluctuating trends over the past five years, ranging from a low of 0.89% in 2021 to a high of 7.83% in 2019. In 2022, the ROA significantly improved to 7.55%, indicating efficient utilization of assets to generate profits. However, this improvement was not sustained as the ROA decreased to 2.70% in 2023, suggesting a potential decrease in the company's profitability relative to its asset base. It is important to further investigate the factors impacting this decline in ROA to assess the company's overall operational efficiency and profitability levels.