Progress Software Corporation (PRGS)

Return on assets (ROA)

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Net income	US$ in thousands	70,197	95,069	78,420	79,722	26,400
Total assets	US$ in thousands	1,602,780	1,411,480	1,363,540	1,041,780	881,271
ROA		4.38%	6.74%	5.75%	7.65%	3.00%

November 30, 2023 calculation

ROA = Net income ÷ Total assets
= $70,197K ÷ $1,602,780K
= 4.38%

Progress Software Corp.'s return on assets (ROA) has exhibited fluctuations over the past five years. The ROA decreased to 4.38% in Nov 2023 from 6.74% in Nov 2022 and 5.75% in Nov 2021. This decline indicates the company's reduced ability to generate profits from its assets compared to the previous years. However, it's noteworthy that the ROA was relatively higher in Nov 2022 and Nov 2020, reaching 6.74% and 7.65%, respectively, which suggests stronger asset utilization and profitability in those periods. The company's ROA reached a low of 3.00% in Nov 2019, marking a significant increase in profitability over the last four years. Overall, the fluctuating trend in ROA indicates varying efficiency in utilizing assets to generate earnings, necessitating continued monitoring and analysis of the company's operational and financial strategies.