Myriad Genetics Inc (MYGN)

Return on assets (ROA)

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Jun 30, 2020 Jun 30, 2019
Net income US$ in thousands -263,300 -112,000 -27,200 -199,500 4,600
Total assets US$ in thousands 1,146,500 1,198,700 1,320,700 1,404,600 1,562,700
ROA -22.97% -9.34% -2.06% -14.20% 0.29%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $-263,300K ÷ $1,146,500K
= -22.97%

Myriad Genetics, Inc.'s return on assets (ROA) has shown significant variability over the past five years. The ROA was negative in the most recent year, indicating that the company generated a net loss relative to its total assets. This negative trend worsened compared to the previous year.

In 2022, the ROA was also negative, but to a lesser extent than in 2023. The company's ROA was slightly positive in 2021, showing a modest return on its assets. However, the ROA deteriorated significantly in 2020 when it fell to -14.20%.

The most favorable performance in terms of ROA was observed in 2019 when the company generated a positive return on assets, albeit a low one at 0.29%. It is worth noting that the ROA has been unstable over the five-year period, with significant fluctuations indicating challenges in effectively utilizing the company's assets to generate profits.

Overall, Myriad Genetics, Inc. faces difficulties in generating adequate returns on its assets, as indicated by the negative and low ROA figures in recent years. This highlights the importance of improving operational efficiency and profitability to enhance the company's overall financial performance.