Northrop Grumman Corporation (NOC)

Return on assets (ROA)

		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	2,056,000	4,671,000	4,649,000	4,783,000	4,896,000	5,526,000	5,674,000	5,765,000	7,005,000	4,625,000	4,548,000	4,516,000	3,189,000	2,450,000	2,397,000	2,253,000	2,248,000	3,013,000	3,324,000	3,252,000
Total assets	US$ in thousands	46,544,000	44,896,000	45,609,000	44,244,000	43,755,000	42,733,000	41,914,000	41,903,000	42,579,000	42,346,000	42,142,000	41,423,000	44,469,000	44,772,000	43,475,000	43,203,000	41,089,000	40,553,000	39,584,000	39,751,000
ROA		4.42%	10.40%	10.19%	10.81%	11.19%	12.93%	13.54%	13.76%	16.45%	10.92%	10.79%	10.90%	7.17%	5.47%	5.51%	5.21%	5.47%	7.43%	8.40%	8.18%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $2,056,000K ÷ $46,544,000K
= 4.42%

Northrop Grumman Corp.'s return on assets (ROA) has exhibited some variability over the past eight quarters. The ROA has ranged from a low of 4.42% at the end of December 2023 to a high of 13.76% at the end of March 2022. The general trend shows a gradual decline in ROA, with the most recent figure at 4.42% representing a notable decrease from the previous quarter. This decrease in ROA suggests that the company's ability to generate profits from its assets has declined. Further analysis of the company's financial performance and asset utilization may be necessary to understand the reasons behind this trend and its potential impact on the company's overall financial health.