MYR Group Inc (MYRG)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 129,093 | 114,907 | 118,560 | 86,545 | 57,178 |
| Total assets | US$ in thousands | 1,578,750 | 1,398,860 | 1,121,090 | 995,859 | 1,007,870 |
| Operating ROA | 8.18% | 8.21% | 10.58% | 8.69% | 5.67% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $129,093K ÷ $1,578,750K
= 8.18%
The operating return on assets (operating ROA) of MYR Group Inc has shown a fluctuating trend over the past five years, ranging from 5.32% in 2019 to 10.30% in 2021. The company's operating ROA was 7.91% in 2023, slightly lower than the previous year's 8.04%.
Overall, MYR Group Inc has demonstrated the ability to generate operating income relative to its assets, with the highest operating ROA observed in 2021. However, the slight decline in 2023 compared to 2022 may indicate potential challenges in maintaining or increasing profitability from its operations relative to its asset base. Additional analysis of the company's financial performance and operational efficiency is recommended to assess the factors contributing to the changes in operating ROA over the years.
Peer comparison
Dec 31, 2023