Teledyne Technologies Incorporated (TDY)

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	1,034,400	972,000	624,300	480,100	491,700
Total assets	US$ in thousands	14,527,900	14,354,000	14,430,300	5,084,800	4,579,800
Operating ROA		7.12%	6.77%	4.33%	9.44%	10.74%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $1,034,400K ÷ $14,527,900K
= 7.12%

Teledyne Technologies Inc's operating return on assets (operating ROA) has shown fluctuations over the past five years. In 2023, the operating ROA is 7.12%, slightly higher than the previous year's 6.77%. However, it is lower compared to 2021 and 2019 when the operating ROA was 9.44% and 10.74%, respectively. The lowest operating ROA in the given period was in 2022 at 4.33%.

Overall, the trend in Teledyne Technologies Inc's operating ROA indicates some variability in the company's ability to generate operating profit from its assets efficiently. The fluctuations in operating ROA suggest changes in the company's operating performance and efficiency over the years, which may be influenced by factors such as operating expenses, revenue generation, asset utilization, and economic conditions. Further analysis of the company's financial statements and operational performance would provide a more in-depth understanding of the drivers behind these fluctuations in operating ROA.