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.