NV5 Global Inc (NVEE)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 44,613 | 49,973 | 47,147 | 21,018 | 23,756 |
| Total assets | US$ in thousands | 1,170,590 | 935,723 | 961,943 | 881,175 | 893,137 |
| ROA | 3.81% | 5.34% | 4.90% | 2.39% | 2.66% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $44,613K ÷ $1,170,590K
= 3.81%
NV5 Global Inc's return on assets (ROA) has shown fluctuations over the past five years. In 2023, the ROA decreased to 3.81% from 5.34% in 2022, indicating a decline in the company's ability to generate earnings relative to its total assets. However, the 2023 ROA remains higher than the 2019 and 2020 figures of 2.66% and 2.39% respectively.
Despite the decrease in 2023, NV5 Global Inc's ROA has generally been above 4% in the past three years, reflecting the company's efficiency in utilizing its assets to generate profits. This trend suggests that the company has been relatively successful in managing its assets to create value for shareholders. Further analysis of the company's operational performance and asset utilization efficiency may provide insights into the factors driving these fluctuations in ROA.
Peer comparison
Dec 31, 2023