Regeneron Pharmaceuticals Inc (REGN)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	4,047,100	4,738,900	8,946,800	3,576,600	2,209,800
Total assets	US$ in thousands	33,080,200	29,214,500	25,434,800	17,163,300	14,805,200
Operating ROA		12.23%	16.22%	35.18%	20.84%	14.93%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $4,047,100K ÷ $33,080,200K
= 12.23%

Regeneron Pharmaceuticals, Inc.'s operating return on assets (operating ROA) has shown variability over the past five years. The operating ROA decreased from 35.00% in 2021 to 19.20% in 2020 but then increased to 16.79% in 2022. In the most recent year, as of December 31, 2023, the operating ROA further declined to 12.79%. Despite this decline, the company has generally maintained positive performance in generating operating income relative to its asset base. The declining trend in operating ROA from 2021 to 2023 may indicate some challenges in efficiently utilizing assets to generate operating profit. Further analysis of the company's operational efficiency and asset management strategies would be valuable to understand the factors driving these fluctuations in operating ROA.