Repligen Corporation (RGEN)

Return on assets (ROA)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	41,577	115,794	138,027	167,824	185,959	166,340	159,433	145,805	128,291	118,879	99,933	79,561	59,926	43,832	30,939	23,173	21,411	23,445	26,580	21,223
Total assets	US$ in thousands	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	1,400,110	1,378,710	1,068,270	797,921
ROA		1.47%	4.61%	5.41%	6.61%	7.37%	6.75%	6.52%	6.12%	5.44%	5.30%	4.96%	4.13%	3.15%	2.97%	2.15%	1.65%	1.53%	1.70%	2.49%	2.66%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $41,577K ÷ $2,824,410K
= 1.47%

To analyze Repligen Corp.'s return on assets (ROA) based on the provided data, we observe a gradual decline in ROA over the last eight quarters. In Q4 2022, ROA stood at 7.37%, gradually decreasing to 1.47% by Q4 2023. This downward trend indicates a decrease in the company's ability to generate profits from its assets over the period under review.

The average ROA over the eight quarters is approximately 5.35%, with the highest ROA recorded in Q4 2022 at 7.37% and the lowest in Q4 2023 at 1.47%. This variance suggests volatility in the company's profitability relative to its asset base.

The declining ROA may be attributed to various factors such as increased operational expenses, reduced efficiency in asset utilization, or a decrease in revenue generation relative to the asset base. Investors and stakeholders may view this trend as a cause for concern, indicating a potential need for strategic adjustments to improve the company's profitability and efficiency in utilizing its assets.