Myers Industries Inc (MYE)

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	72,405	83,941	49,301	53,550	37,266
Total assets	US$ in thousands	541,631	542,634	484,549	400,015	353,139
Operating ROA		13.37%	15.47%	10.17%	13.39%	10.55%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $72,405K ÷ $541,631K
= 13.37%

The operating return on assets (operating ROA) for Myers Industries Inc. has shown some fluctuation over the past five years. In 2023, the operating ROA stood at 13.33%, a decrease from the previous year's figure of 15.46%. Despite this decline, the current operating ROA remains above the levels recorded in 2021, 2020, and 2019, indicating operational efficiency and effective asset utilization by the company.

It is worth noting that while there was a slight dip in the operating ROA in 2023, it is still within a reasonable range and suggests that Myers Industries Inc. is generating a positive return from its operational activities relative to its total assets. This metric is crucial as it indicates how well the company is converting its assets into operating profit, providing insight into its operational performance and efficiency.

Overall, the operating ROA trend for Myers Industries Inc. shows some variability but generally indicates a solid ability to generate profit from its assets, although management may want to monitor any further fluctuations in this ratio to ensure continued profitability and sustainable growth.