Ormat Technologies Inc (ORA)
Return on assets (ROA)
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Net income | US$ in thousands | 124,399 | 65,841 | 62,092 | 85,456 | 88,095 |
Total assets | US$ in thousands | 5,208,280 | 4,611,580 | 4,425,680 | 3,888,990 | 3,250,490 |
ROA | 2.39% | 1.43% | 1.40% | 2.20% | 2.71% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $124,399K ÷ $5,208,280K
= 2.39%
Ormat Technologies Inc's return on assets (ROA) has fluctuated over the past five years. In 2023, the ROA was 2.39%, showing an improvement compared to the previous year's 1.43%. However, it was still lower than the 2.71% recorded in 2019. This indicates that the company's ability to generate profit from its assets slightly strengthened in 2023 compared to 2022 but remains below the level achieved in 2019. It is important to further investigate the underlying reasons for these fluctuations to assess the company's overall asset utilization efficiency and profitability.
Peer comparison
Dec 31, 2023
Company name
Symbol
ROA
Ormat Technologies Inc
ORA
2.39%
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