Teledyne Technologies Incorporated (TDY)

Operating return on assets (Operating ROA)

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	1,034,400	1,036,700	1,017,600	991,000	972,000	893,300	837,700	712,600	624,300	573,000	505,900	511,300	480,100	470,100	476,300	498,400	491,700	469,100	445,900	425,500
Total assets	US$ in thousands	14,527,900	14,215,800	14,156,300	14,429,300	14,354,000	13,826,400	14,047,500	14,251,100	14,430,300	14,447,500	14,222,900	7,618,400	5,084,800	4,837,000	4,738,200	4,585,000	4,579,800	4,479,600	4,200,200	4,161,700
Operating ROA		7.12%	7.29%	7.19%	6.87%	6.77%	6.46%	5.96%	5.00%	4.33%	3.97%	3.56%	6.71%	9.44%	9.72%	10.05%	10.87%	10.74%	10.47%	10.62%	10.22%

December 31, 2023 calculation

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

Teledyne Technologies Inc's operating return on assets (operating ROA) has shown a positive trend over the past eight quarters, increasing from 5.00% in Q1 2022 to 7.12% in Q4 2023. This indicates that the company has been able to generate more operating income relative to its total assets over this period. The steady improvement in operating ROA reflects the firm's effective management of its assets to generate operating profits. Overall, Teledyne's increasing operating ROA suggests a higher level of operational efficiency and profitability in utilizing its assets to generate earnings.