Progress Software Corporation (PRGS)

Return on assets (ROA)

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Net income (ttm)	US$ in thousands	69,162	70,197	78,570	81,269	98,289	95,069	86,287	95,466	79,913	78,420	81,155	74,156	77,567	79,722	57,321	46,901	38,114	26,400	39,784	40,617
Total assets	US$ in thousands	1,547,770	1,602,780	1,597,470	1,601,880	1,643,610	1,411,480	1,346,290	1,354,580	1,353,120	1,363,540	1,275,490	1,239,990	1,027,060	1,041,780	919,468	895,602	890,182	881,271	859,925	829,905
ROA		4.47%	4.38%	4.92%	5.07%	5.98%	6.74%	6.41%	7.05%	5.91%	5.75%	6.36%	5.98%	7.55%	7.65%	6.23%	5.24%	4.28%	3.00%	4.63%	4.89%

February 29, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $69,162K ÷ $1,547,770K
= 4.47%

Progress Software Corporation's return on assets (ROA) has fluctuated over the past few quarters. The ROA was relatively stable in the range of 4% to 5% from the end of 2019 to mid-2022. However, there was a notable increase in ROA in the second half of 2022, reaching a peak of 7.65% in November 2022.

Subsequently, ROA declined in the first half of 2023 but remained above 5%. In the most recent quarter, ROA was 4.47%, indicating a slight decrease compared to the previous quarter.

Overall, Progress Software Corporation has maintained a moderate to high ROA, suggesting efficient utilization of assets to generate profits. However, the recent slight decline in ROA may warrant further investigation to ensure sustainable performance in the future.