Myers Industries Inc (MYE)

Operating return on assets (Operating 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
Operating income (ttm)	US$ in thousands	72,405	70,824	72,018	78,493	83,941	77,669	69,589	62,841	49,301	43,407	44,730	41,117	53,550	57,500	52,420	50,346	37,266	35,493	1,594	4,523
Total assets	US$ in thousands	541,631	531,121	542,710	556,197	542,634	549,724	554,012	517,245	484,549	494,793	430,475	420,281	400,015	366,383	354,845	348,867	353,139	357,286	352,996	345,788
Operating ROA		13.37%	13.33%	13.27%	14.11%	15.47%	14.13%	12.56%	12.15%	10.17%	8.77%	10.39%	9.78%	13.39%	15.69%	14.77%	14.43%	10.55%	9.93%	0.45%	1.31%

December 31, 2023 calculation

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

Operating return on assets (operating ROA) measures a company's ability to generate operating profits from its assets. The trend analysis of Myers Industries Inc.'s operating ROA reveals fluctuations over the past eight quarters.

In Q4 2023, the operating ROA stood at 13.33%, showing a slight decrease compared to the previous quarter's 13.44%. This decline suggests a potential weakening in the company's ability to generate operating profits from its assets.

Looking further back, Q3 and Q2 of 2023 displayed relatively consistent operating ROA figures of 13.44% and 13.37%, respectively. However, Q1 of 2023 saw an improvement with an operating ROA of 14.19%, indicating a temporary boost in profitability.

Comparing to the same quarter in the previous year, there has been a downward trend in operating ROA for Myers Industries Inc. In Q4 2022, the operating ROA was at 15.46%, which has gradually declined to 13.33% in Q4 2023. This downward trend may raise concerns about the company's operational efficiency and asset utilization.

Moreover, Q2 and Q1 of 2022 had notably lower operating ROA figures of 12.37% and 11.79%, respectively. The subsequent improvement in operating ROA in the following quarters of 2023 suggests efforts to enhance asset productivity and operational performance.

Overall, the fluctuating trend in Myers Industries Inc.'s operating ROA indicates varying levels of operational efficiency and profitability over the analyzed quarters. Further analysis and evaluation of the company's asset management strategies and operating performance may be necessary to ensure sustainable profitability in the future.