Roper Technologies Inc. Common Stock (ROP)

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	1,745,200	1,524,500	1,241,200	1,082,900	1,328,300
Total assets	US$ in thousands	28,167,500	26,980,800	23,713,900	24,024,800	18,108,900
Operating ROA		6.20%	5.65%	5.23%	4.51%	7.34%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $1,745,200K ÷ $28,167,500K
= 6.20%

Operating return on assets (operating ROA) measures the company's ability to generate operating profits from its asset base. A higher operating ROA indicates more efficiency in utilizing assets to generate operating income.

Roper Technologies Inc's operating ROA has shown some fluctuation over the past five years. In 2023, the operating ROA was 6.20%, slightly higher than the previous year's 5.65%. This suggests that Roper was able to generate more operating income relative to its asset base in 2023.

Comparing to 2021, when the operating ROA was 6.66%, the 2023 ratio indicates a slight decline. However, it's worth noting that the 2021 figure was the highest in the past five years.

The operating ROA in 2020 and 2019 was 5.96% and 8.27%, respectively. The 2023 ratio falls between these two figures but is closer to the 2020 ratio.

Overall, Roper Technologies Inc has maintained a relatively stable operating ROA performance, showing a moderate increase in 2023 compared to the previous year. Continued monitoring of this ratio will be important to assess the company's asset utilization efficiency.