RadNet Inc (RDNT)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 3,044 | 10,650 | 24,727 | -14,840 | 14,756 |
| Total assets | US$ in thousands | 2,690,470 | 2,433,910 | 2,058,470 | 1,786,660 | 1,646,990 |
| ROA | 0.11% | 0.44% | 1.20% | -0.83% | 0.90% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $3,044K ÷ $2,690,470K
= 0.11%
Radnet Inc's return on assets (ROA) has shown fluctuations over the past five years. In 2023, the ROA stands at 0.11%, reflecting a decrease from the previous year. This decline suggests that the company's ability to generate profits from its assets has weakened compared to 2022 when the ROA was 0.44%.
The ROA was notably higher in 2021 at 1.20%, indicating a strong performance in utilizing its assets to generate profits. However, in 2020, the ROA was negative at -0.83%, which signals that the company incurred losses relative to its asset base.
Overall, Radnet Inc's ROA has been volatile, with fluctuations in profitability levels relative to its asset base over the last five years. This inconsistency in ROA performance may warrant further investigation into the company's asset management and operational efficiency to ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023