Phibro Animal Health Corporation (PAHC)

Operating return on assets (Operating ROA)

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Operating income (ttm) US$ in thousands 110,465 89,385 76,060 66,228 47,829 58,957 57,320 57,463 71,847 62,576 63,217 69,667 70,595 75,300 76,238 73,834 74,910 73,810 74,997 74,716
Total assets US$ in thousands 1,360,900 1,317,260 1,285,510 966,289 982,184 979,035 972,708 964,523 971,397 965,432 961,833 948,378 931,699 916,181 848,958 836,044 841,325 805,017 803,651 789,554
Operating ROA 8.12% 6.79% 5.92% 6.85% 4.87% 6.02% 5.89% 5.96% 7.40% 6.48% 6.57% 7.35% 7.58% 8.22% 8.98% 8.83% 8.90% 9.17% 9.33% 9.46%

June 30, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $110,465K ÷ $1,360,900K
= 8.12%

The operating return on assets (ROA) of Phibro Animal Health Corporation exhibits a trend characterized by initial stability followed by gradual decline and subsequent fluctuations. From September 30, 2020, through September 30, 2021, the operating ROA remained relatively stable, fluctuating within a narrow range—from 9.46% down to 8.83%. This period reflects a steady operating efficiency in utilizing assets to generate operating income.

Subsequently, there was a notable decline observable between December 31, 2021, and September 30, 2022. The ROA decreased from approximately 8.98% to 7.35%, indicating a reduction in operating profitability relative to assets. This downward trajectory continued through early 2023, reaching a low of 5.89% at the end of December 2023, suggesting challenges in maintaining prior levels of operating efficiency.

From early 2024 onward, the operating ROA displayed signs of modest recovery, with values rising from 4.87% on June 30, 2024, to about 8.12% on June 30, 2025. This rebound indicates periods of improved operational performance or better asset utilization. Overall, while the company experienced a declining trend in operating ROA over the past few years, recent data suggest a potential stabilization and partial recovery, though current levels still remain below the earlier peaks observed in 2020 and 2021.