Minerals Technologies Inc (MTX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 84,100 | 122,200 | 164,400 | 112,400 | 132,700 |
| Total assets | US$ in thousands | 3,346,600 | 3,401,600 | 3,374,200 | 3,209,400 | 3,112,600 |
| ROA | 2.51% | 3.59% | 4.87% | 3.50% | 4.26% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $84,100K ÷ $3,346,600K
= 2.51%
Minerals Technologies, Inc.'s Return on Assets (ROA) has shown a declining trend over the past five years. The company's ROA decreased from 4.26% in 2019 to 2.51% in 2023. This indicates that the company's ability to generate profits from its assets has weakened over time. A declining ROA can be a cause for concern as it suggests that the company is not effectively utilizing its assets to generate earnings. It is essential for investors and stakeholders to monitor this trend closely to understand the factors contributing to the decrease in ROA and assess the company's overall financial performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
ROA
Minerals Technologies Inc
MTX
2.51%
Air Products and Chemicals Inc
APD
9.67%
Arcadium Lithium plc
ALTM
10.22%
Linde plc Ordinary Shares
LIN
7.67%