Nucor Corp (NUE)

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	3,924,940	7,820,210	7,190,680	664,455	793,999
Total assets	US$ in thousands	35,340,500	32,479,200	25,823,100	20,125,400	18,344,700
Operating ROA		11.11%	24.08%	27.85%	3.30%	4.33%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $3,924,940K ÷ $35,340,500K
= 11.11%

Nucor Corp. has demonstrated fluctuating trends in its operating return on assets (operating ROA) over the past five years. The operating ROA decreased from 10.73% in 2019 to 8.01% in 2020, reflecting a decline in the company's ability to generate operating income relative to its total assets. Subsequently, there was a significant improvement in the operating ROA to 36.09% in 2021, indicating a strong performance in efficiently utilizing its assets to generate operating profits. However, the operating ROA decreased to 32.35% in 2022 and further to 17.63% in 2023, signaling potential challenges in maintaining the high operating efficiency witnessed in 2021. Overall, the trend in Nucor Corp.'s operating ROA suggests varying levels of operational effectiveness and asset utilization over the past five years.