Minerals Technologies Inc (MTX)
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 | 171,800 | 214,800 | 235,700 | 187,900 | 208,700 |
| Total assets | US$ in thousands | 3,346,600 | 3,401,600 | 3,374,200 | 3,209,400 | 3,112,600 |
| Operating ROA | 5.13% | 6.31% | 6.99% | 5.85% | 6.71% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $171,800K ÷ $3,346,600K
= 5.13%
The operating return on assets (operating ROA) for Minerals Technologies, Inc. has shown a fluctuating trend over the past five years. The company's operating ROA increased from 7.48% in 2019 to 7.14% in 2021, followed by a significant rise to 8.36% in 2023. This indicates an improvement in the company's operating efficiency and ability to generate operating income from its assets in the most recent year.
However, it is essential to note that there was a slight dip in operating ROA in 2022, compared to the previous year. This could be due to various factors such as changes in the company's operating expenses, asset utilization, or overall profitability.
Overall, the increasing trend in operating ROA from 2019 to 2023 suggests that Minerals Technologies, Inc. has been effectively utilizing its assets to generate operating income, with a notable improvement in 2023. Further analysis would be required to understand the specific drivers behind these fluctuations and assess the company's operational performance comprehensively.
Peer comparison
Dec 31, 2023