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.
Peer comparison
Dec 31, 2023