ResMed Inc (RMD)

Operating return on assets (Operating ROA)

Jun 30, 2025 Mar 31, 2025 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
Operating income (ttm) US$ in thousands 1,687,397 1,612,040 1,560,356 1,418,207 1,319,892 1,213,942 1,140,029 1,145,129 1,131,871 1,112,000 1,045,594 1,014,111 1,000,285 986,526 975,687 948,692 903,675 885,285 879,359 855,452
Total assets US$ in thousands 8,174,390 7,566,820 7,141,330 7,222,420 6,872,390 6,814,560 6,905,090 6,740,790 6,751,710 6,713,880 6,676,100 5,177,560 5,095,850 4,905,260 4,734,740 4,729,170 4,728,120 4,585,720 4,572,860 4,620,840
Operating ROA 20.64% 21.30% 21.85% 19.64% 19.21% 17.81% 16.51% 16.99% 16.76% 16.56% 15.66% 19.59% 19.63% 20.11% 20.61% 20.06% 19.11% 19.31% 19.23% 18.51%

June 30, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,687,397K ÷ $8,174,390K
= 20.64%

The operating return on assets (ROA) for ResMed Inc. exhibits notable fluctuations over the analyzed period from September 2020 through June 2025. Initially, the metric demonstrated a steady upward trend, increasing from 18.51% in September 2020 to reach a peak of approximately 20.61% by December 2021. During this phase, the company’s operating efficiency in generating returns relative to its assets appeared to improve progressively.

Between December 2021 and September 2022, the operating ROA displayed minor fluctuations, generally maintaining levels around the 19.6% to 20.1% range. However, a significant decline was observed beginning in December 2022, where the ROA dropped to 15.66%, indicating a possible reduction in operating profitability or asset utilization efficiency. This downward movement persisted into early 2023, with the metric settling around 16.56% in March 2023 and slightly increasing thereafter.

Subsequently, from March 2024 onward, the operating ROA demonstrated a marked improvement, rising from 17.81% in March 2024 to a high of 21.85% in December 2024. This upward trajectory suggests a period of enhanced operational efficiency or a favorable shift in asset utilization. The metric maintained elevated levels into 2025, with values of 21.30% in March and 20.64% in June, indicating sustained improvement relative to the earlier period of decline.

Overall, the data reflects a trajectory characterized by early growth, a period of decline around late 2022, and a subsequent recovery and improvement from 2024 onwards. These shifts likely correspond to variations in operational performance, market conditions, or strategic initiatives undertaken by the company during the period analyzed.