Standex International Corporation (SXI)

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 97,512 87,254 87,527 104,896 107,714 107,751 109,148 111,122 110,495 101,242 97,789 91,756 88,294 91,493 72,673 67,638 59,164 46,871 58,130 59,226
Total assets US$ in thousands 1,566,880 1,554,560 1,482,940 1,037,880 1,005,060 993,506 1,005,060 981,433 1,024,930 1,015,090 956,685 921,259 934,439 973,568 970,570 960,642 962,223 946,338 958,657 941,902
Operating ROA 6.22% 5.61% 5.90% 10.11% 10.72% 10.85% 10.86% 11.32% 10.78% 9.97% 10.22% 9.96% 9.45% 9.40% 7.49% 7.04% 6.15% 4.95% 6.06% 6.29%

June 30, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $97,512K ÷ $1,566,880K
= 6.22%

The operating return on assets (ROA) of Standex International Corporation demonstrates a general upward trend from September 2020 through September 2023, indicating increasing operational efficiency in generating earnings relative to the asset base. Specifically, the operating ROA increased from 6.29% on September 30, 2020, to a peak of approximately 11.32% on September 30, 2023. This sustained improvement suggests enhanced operational performance and potentially better asset utilization over this period.

From an analytical perspective, the progression of the operating ROA reflects periods of growth characterized by improvements in operational profitability. Between September 2020 and March 2022, there is a steady increase from 6.29% to 9.40%, culminating in nearly double-digit ROA levels by the end of March 2022. The subsequent quarters witness a continued growth trajectory, reaching a high of approximately 11.32% in September 2023, matching the highest levels observed in the analyzed timeframe.

However, beyond this peak, a decline in operating ROA is evident, with a slight decrease to 10.86% by December 2023, followed by marginal fluctuations in 2024, ending at approximately 10.11% on September 30, 2024. Notably, a significant drop occurs by the end of December 2024, where the operating ROA falls to 5.90%, and further declines are observed in the first half of 2025, reaching approximately 5.61% in March 2025 before modestly rising to 6.22% in June 2025.

This recent decline indicates a substantial reduction in operational efficiency or profitability relative to assets. The causes for such downturns could involve shifts in market conditions, increased costs, or other operational challenges affecting profit margins. The overall pattern from 2020 to mid-2023 suggests a period of strengthening operational performance, whereas the subsequent decrease signals potential headwinds or a normalization phase following prior growth.

In conclusion, Standex International’s operating ROA experienced a notable upward trajectory over multiple years, highlighting periods of robust operational performance. The recent downturn warrants further investigation into underlying operational factors, but the earlier trend points to a pattern of consistent improvement until late 2023, after which performance appears to have declined significantly.


Peer comparison

Jun 30, 2025

Company name
Symbol
Operating ROA
Standex International Corporation
SXI
6.22%
Hayward Holdings Inc
HAYW
7.03%
Middleby Corp
MIDD
9.13%
Tennant Company
TNC
9.65%