MSA Safety (MSA)

Return on assets (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
Net income (ttm) US$ in thousands 58,583 33,662 13,312 -6,085 179,630 66,665 42,939 20,432 21,340 97,594 105,795 116,785 124,077 142,019 154,877 158,507 137,997 130,160 121,638 115,011
Total assets US$ in thousands 2,170,150 2,194,340 2,199,150 2,179,670 2,376,980 2,387,290 2,408,450 2,415,780 2,396,400 2,259,450 1,963,230 1,942,760 1,919,630 1,792,660 1,752,940 1,730,930 1,781,800 1,699,140 1,713,860 1,671,370
ROA 2.70% 1.53% 0.61% -0.28% 7.56% 2.79% 1.78% 0.85% 0.89% 4.32% 5.39% 6.01% 6.46% 7.92% 8.84% 9.16% 7.74% 7.66% 7.10% 6.88%

December 31, 2023 calculation

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

MSA Safety Inc's return on assets (ROA) has exhibited fluctuations over the past eight quarters. In Q4 2022, the ROA was notably high at 7.55%, demonstrating a strong ability to generate earnings relative to its asset base. However, in the subsequent quarters, the ROA experienced a decrease to 2.89% in Q3 2022, 1.78% in Q2 2022, and 0.84% in Q1 2022, indicating a decline in the company's efficiency in utilizing its assets to generate profits.

The ROA further deteriorated in Q1 2023, turning negative at -0.28%, suggesting that the company's assets were not generating sufficient earnings to cover its costs. However, MSA Safety Inc managed to improve its ROA in the following quarters, reaching 0.60% in Q2 2023 and 1.53% in Q3 2023, indicating some recovery in asset efficiency.

Overall, MSA Safety Inc's ROA performance has been somewhat volatile, with periods of strong returns followed by declines and subsequent improvements. It is essential for investors and analysts to closely monitor the company's asset utilization and profitability trends to assess its financial health and performance.