Gibraltar Industries Inc (ROCK)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 110,533 | 82,406 | 75,629 | 64,566 | 65,091 |
| Total assets | US$ in thousands | 1,256,450 | 1,210,610 | 1,214,900 | 1,212,490 | 984,450 |
| ROA | 8.80% | 6.81% | 6.23% | 5.33% | 6.61% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $110,533K ÷ $1,256,450K
= 8.80%
Gibraltar Industries Inc.'s return on assets (ROA) has exhibited a positive trend over the past five years, increasing from 6.61% in 2019 to 8.80% in 2023. This indicates that the company has been more efficient in generating profits from its assets over time.
The significant improvement in ROA can be attributed to effective management of the company's assets to generate higher returns. This suggests that Gibraltar Industries has been utilizing its assets more effectively to generate profits for its shareholders.
The consistent growth in ROA reflects positively on the company's operational efficiency and profitability. Investors and stakeholders may view this trend favorably as it indicates Gibraltar Industries' ability to generate increasing profits relative to its asset base.
Overall, the improvement in Gibraltar Industries Inc.'s return on assets over the years demonstrates the company's stronger financial performance and efficiency in utilizing its assets to drive profitability.
Peer comparison
Dec 31, 2023