Myers Industries Inc (MYE)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 48,867 | 60,267 | 33,538 | 36,769 | 24,333 |
| Total stockholders’ equity | US$ in thousands | 292,800 | 256,427 | 209,325 | 189,100 | 166,682 |
| ROE | 16.69% | 23.50% | 16.02% | 19.44% | 14.60% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $48,867K ÷ $292,800K
= 16.69%
Myers Industries Inc.'s return on equity (ROE) has fluctuated over the past five years. In 2023, the ROE was 16.69%, a decrease from the previous year's 23.50%. Despite this decrease, the ROE in 2023 is still relatively strong compared to 2021 and 2019, when it stood at 16.02% and 14.60%, respectively. The highest ROE in the past five years was in 2022, at 23.50%.
The trend in ROE suggests some variability in the company's ability to generate profits from shareholders' equity during the period under review. Further analysis would be needed to identify the specific factors influencing these fluctuations and assess the company's overall profitability and efficiency in utilizing shareholder equity.
Peer comparison
Dec 31, 2023