Proto Labs Inc (PRLB)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 17,220 | -103,462 | 33,372 | 50,867 | 63,655 |
| Total assets | US$ in thousands | 772,353 | 802,168 | 928,582 | 744,204 | 673,667 |
| ROA | 2.23% | -12.90% | 3.59% | 6.84% | 9.45% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $17,220K ÷ $772,353K
= 2.23%
Proto Labs Inc's return on assets (ROA) has exhibited significant fluctuations over the past five years. In 2019, the ROA stood at a healthy 9.45%, indicating that the company generated $0.0945 in profit for every dollar of assets it owned. However, this figure declined to 6.84% in 2020 and further decreased to 3.59% in 2021.
The ROA took a sharp dip to -12.90% in 2022, signifying that the company experienced a loss on its assets during that period. Such a negative ROA suggests inefficiency in asset utilization and could be a cause for concern for investors and stakeholders.
In 2023, Proto Labs Inc managed to improve its ROA to 2.23%, indicating a recovery from the previous year's losses but still below the levels seen in 2019 and 2020. It is important for the company to continue monitoring and improving its ROA to ensure optimal utilization of assets and sustainable profitability in the future.
Peer comparison
Dec 31, 2023