Ryder System Inc (R)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 406,000 | 867,000 | 519,000 | -122,000 | -24,410 |
| Total assets | US$ in thousands | 15,778,000 | 14,395,000 | 13,835,000 | 12,932,000 | 14,475,300 |
| ROA | 2.57% | 6.02% | 3.75% | -0.94% | -0.17% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $406,000K ÷ $15,778,000K
= 2.57%
Ryder System, Inc.'s return on assets (ROA) has fluctuated over the past five years. In 2023, the company's ROA stood at 2.56%, reflecting a decrease from the previous year's 5.99%. This decline suggests that Ryder System, Inc. may have experienced challenges in generating profit relative to its total assets in 2023 compared to 2022.
The ROA of 3.73% in 2021 was an improvement from the negative ROA of -0.95% in 2020, indicating a positive change in the company's ability to utilize its assets effectively to generate earnings. However, the 2021 ROA was lower than the 2022 and 2023 figures.
Ryder System, Inc. had a ROA of 0.64% in 2019, which increased to 3.73% in 2021, signifying an improvement in asset utilization during this period.
Overall, the trend in ROA for Ryder System, Inc. shows variability over the past five years, indicating fluctuations in the company's efficiency in generating profits from its assets. Further analysis of the underlying factors driving these changes would be valuable in understanding the company's performance and future prospects.
Peer comparison
Dec 31, 2023