O-I Glass Inc (OI)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | -103,000 | 584,000 | 149,000 | 249,000 | -400,000 |
| Total assets | US$ in thousands | 9,669,000 | 9,061,000 | 8,832,000 | 8,882,000 | 9,610,000 |
| ROA | -1.07% | 6.45% | 1.69% | 2.80% | -4.16% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $-103,000K ÷ $9,669,000K
= -1.07%
The return on assets (ROA) for O-I Glass Inc has displayed significant fluctuations over the past five years. In 2023, the ROA was -1.07%, indicating a negative return on the company's assets. This is a notable decrease from the previous year's ROA of 6.45%, suggesting a decline in the company's ability to generate profits from its assets.
The ROA performance in 2021 stood at 1.69%, showing a moderate return on assets compared to the prior year. The year 2020 saw a ROA of 2.80%, marking an improvement in asset utilization from the previous year. However, in 2019, the company reported a negative ROA of -4.16%, indicating a significant decrease in profitability relative to its asset base.
Overall, the fluctuating ROA figures suggest varying levels of efficiency in utilizing assets to generate earnings for O-I Glass Inc. Further analysis is recommended to identify the factors contributing to these fluctuations and to assess the company's overall financial health and performance.