Sun Country Airlines Holdings Inc (SNCY)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Net income | US$ in thousands | 72,181 | 17,676 | 81,248 |
| Total assets | US$ in thousands | 1,623,630 | 1,524,410 | 1,380,420 |
| ROA | 4.45% | 1.16% | 5.89% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $72,181K ÷ $1,623,630K
= 4.45%
Sun Country Airlines Holdings Inc's return on assets (ROA) has shown significant variability over the past three years. In 2021, the company achieved an ROA of 5.63%, indicating that it generated 5.63 cents of profit for every dollar of assets held. This was a strong performance that suggested efficient asset utilization and profitability.
However, in 2022, the ROA decreased to 1.16%, reflecting a significant decline in the company's ability to generate profit from its assets. This could be attributed to various factors such as increased operating costs, lower revenue generation, or ineffective asset management.
In 2023, Sun Country Airlines Holdings Inc managed to improve its ROA to 4.45%, indicating a recovery in profitability and efficiency in asset utilization compared to the previous year. While this improvement is positive, the ROA still falls short of the 2021 level.
Overall, the fluctuation in Sun Country Airlines Holdings Inc's ROA over the past three years suggests some volatility in the company's profitability and efficiency in managing its assets. It would be essential for the company to identify the factors driving these fluctuations and implement strategies to maintain or enhance its ROA in the future.
Peer comparison
Dec 31, 2023