Robert Half International Inc (RHI)

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	411,146	471,495	542,156	611,685	657,919	678,210	682,875	656,267	598,626	525,098	429,976	326,959	306,276	324,702	366,134	434,550	454,433	455,155	453,216	447,919
Total assets	US$ in thousands	3,010,790	3,021,050	3,067,640	2,912,130	2,964,490	2,910,580	2,933,840	2,950,770	2,952,360	2,931,720	2,741,370	2,565,170	2,557,420	2,563,090	2,402,380	2,274,850	2,311,410	2,311,570	2,239,420	2,204,610
ROA		13.66%	15.61%	17.67%	21.00%	22.19%	23.30%	23.28%	22.24%	20.28%	17.91%	15.68%	12.75%	11.98%	12.67%	15.24%	19.10%	19.66%	19.69%	20.24%	20.32%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $411,146K ÷ $3,010,790K
= 13.66%

The return on assets (ROA) of Robert Half Inc has exhibited a declining trend over the past eight quarters, starting at 22.19% in Q4 2022 and decreasing to 13.66% in Q4 2023. This indicates that the company's ability to generate profits from its assets has weakened over time.

The ROA peaked at 23.30% in Q3 2022 but has since been on a consistent downward trajectory. The most recent ROA of 13.66% in Q4 2023 reflects a significant decrease compared to the previous quarters.

The declining ROA suggests that Robert Half Inc may be facing challenges in efficiently utilizing its assets to generate earnings. It could be indicative of various factors such as increased expenses, lower revenues, or suboptimal asset management strategies.

Further analysis of the company's financial health and operational efficiency is warranted to determine the underlying reasons for the decreasing ROA and to identify potential areas for improvement.