SpartanNash Co (SPTN)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 52,237 | 34,518 | 73,751 | 75,914 | 5,742 |
| Total assets | US$ in thousands | 2,355,580 | 2,306,560 | 2,206,780 | 2,277,390 | 2,277,390 |
| ROA | 2.22% | 1.50% | 3.34% | 3.33% | 0.25% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $52,237K ÷ $2,355,580K
= 2.22%
SpartanNash Co's return on assets (ROA) has shown fluctuations over the past five years. In 2023, the ROA increased to 2.22% from 1.50% in 2022, indicating a positive trend in the company's ability to generate profit from its assets. However, when compared to 2021 where the ROA was 3.34%, there was a decline in 2023.
The ROA of 2.22% in 2023 suggests that for every dollar of assets SpartanNash Co holds, the company generated a return of approximately 2.22 cents. This indicates that the company is efficiently utilizing its assets to generate profit.
It is essential for stakeholders to further investigate the factors contributing to the fluctuations in ROA over the years to assess the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2023