Myers Industries Inc (MYE)
Return on equity (ROE)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 48,867 | 49,756 | 50,680 | 55,906 | 60,267 | 54,094 | 48,326 | 43,570 | 33,538 | 29,273 | 30,055 | 27,348 | 36,769 | 39,517 | 36,051 | 34,289 | 24,333 | 20,933 | -5,425 | -3,423 |
| Total stockholders’ equity | US$ in thousands | 292,800 | 282,221 | 274,422 | 265,247 | 256,427 | 244,977 | 237,258 | 224,138 | 209,325 | 205,525 | 201,981 | 194,253 | 189,100 | 187,598 | 181,695 | 176,223 | 166,682 | 163,820 | 162,410 | 158,426 |
| ROE | 16.69% | 17.63% | 18.47% | 21.08% | 23.50% | 22.08% | 20.37% | 19.44% | 16.02% | 14.24% | 14.88% | 14.08% | 19.44% | 21.06% | 19.84% | 19.46% | 14.60% | 12.78% | -3.34% | -2.16% |
December 31, 2023 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $48,867K ÷ $292,800K
= 16.69%
Myers Industries Inc.'s return on equity (ROE) has exhibited a downward trend over the past eight quarters, declining from 23.50% in Q4 2022 to 16.69% in Q4 2023. This decrease indicates a diminishing ability to generate profit from shareholders' equity during this period.
The ROE of 16.69% in Q4 2023 suggests that for every dollar of shareholders' equity invested, the company generated a return of approximately 16.69 cents. This level of ROE is lower compared to the preceding quarters, indicating a potential decline in efficiency in utilizing equity to generate profits.
The decreasing trend in ROE may raise concerns among investors and analysts about the company's profitability and efficiency in utilizing shareholder funds to generate returns. It would be essential for stakeholders to further examine the company's financial performance and strategies to reverse this declining trend in ROE.
Peer comparison
Dec 31, 2023