Repligen Corporation (RGEN)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Operating income (ttm)	US$ in thousands	-40,815	-5,201	7,439	25,351	54,576	73,198	121,055	164,824	193,568	213,265	205,794	190,866	167,249	147,236	123,003	94,300	69,823	58,298	45,301	36,818
Total assets	US$ in thousands	2,829,670	2,830,640	2,861,920	2,849,270	2,824,410	2,514,130	2,549,000	2,538,230	2,524,660	2,462,530	2,444,920	2,383,820	2,358,350	2,241,400	2,015,960	1,927,330	1,902,890	1,476,320	1,442,040	1,406,480
Operating ROA		-1.44%	-0.18%	0.26%	0.89%	1.93%	2.91%	4.75%	6.49%	7.67%	8.66%	8.42%	8.01%	7.09%	6.57%	6.10%	4.89%	3.67%	3.95%	3.14%	2.62%

December 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $-40,815K ÷ $2,829,670K
= -1.44%

Repligen Corporation's operating return on assets (operating ROA) shows fluctuations over the period from March 31, 2020, to December 31, 2024. The operating ROA increased steadily from 2.62% in March 2020 to a peak of 8.66% in September 2022. This upward trend indicates the company's ability to generate operating income relative to its total assets.

However, starting from December 31, 2022, the operating ROA began to decline. The ratio decreased to 1.93% in December 2023 and further dropped to -1.44% by December 31, 2024. This decrease suggests a deterioration in the company's operating efficiency and profitability relative to its asset base.

Overall, Repligen Corporation experienced positive operating ROA growth until September 2022, followed by a significant decline in operating performance in the subsequent periods. It is essential for the management to investigate the factors contributing to the declining trend in operating ROA and take appropriate actions to improve operational efficiency and profitability.