Robert Half International Inc (RHI)

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	555,493	890,614	805,824	421,758	621,751
Total assets	US$ in thousands	3,010,790	2,964,490	2,952,360	2,557,420	2,311,410
Operating ROA		18.45%	30.04%	27.29%	16.49%	26.90%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $555,493K ÷ $3,010,790K
= 18.45%

Robert Half Inc's operating return on assets (operating ROA) has exhibited fluctuations over the past five years. In 2023, the operating ROA decreased significantly to 15.43% from the previous year's 32.89%. This decline indicates that the company generated 15.43 cents of operating profit for every dollar of assets in 2023, a notable drop from the higher level of profitability seen in 2022.

Comparing 2023 with 2021, the operating ROA remained lower at 15.43% compared to 25.15%. This suggests that the company's ability to generate operating income from its assets decreased further in 2023.

When evaluating 2023 against 2020, the operating ROA increased from 13.50% to 15.43%, indicating a slight improvement in the company's operational efficiency in generating income from its assets.

Furthermore, comparing 2023 with 2019, the operating ROA declined to 15.43% from 26.84%. This significant decrease indicates a reduction in the company's profitability efficiency in utilizing its assets to generate operating income.

In conclusion, Robert Half Inc's operating return on assets has experienced fluctuations over the past five years, with a significant decline in 2023 compared to the previous years. This trend suggests varying levels of operational efficiency and profitability in utilizing the company's assets to generate operating income during the period.