MYR Group Inc (MYRG)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 90,990 | 83,381 | 85,010 | 58,759 | 37,690 |
| Total assets | US$ in thousands | 1,578,750 | 1,398,860 | 1,121,090 | 995,859 | 1,007,870 |
| ROA | 5.76% | 5.96% | 7.58% | 5.90% | 3.74% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $90,990K ÷ $1,578,750K
= 5.76%
MYR Group Inc's return on assets (ROA) has exhibited varying trends over the past five years. In 2023, the ROA decreased to 5.76% from 5.96% in 2022. This decline in ROA may indicate a decrease in the company's efficiency in generating profits from its assets. However, when compared to prior years, the 2023 ROA remains relatively stable.
Looking further back, MYR Group Inc experienced a notable increase in ROA in 2021, reaching 7.58%, then a slight decline in 2020 to 5.90%. The most significant improvement in ROA was observed between 2019 and 2021, indicating enhanced asset utilization and profitability during that period.
It is essential for MYR Group Inc to continuously evaluate its asset management strategies to sustain or enhance its ROA performance. The fluctuations in ROA over the years suggest the need for ongoing monitoring and proactive measures to optimize asset efficiency and profitability.
Peer comparison
Dec 31, 2023