Teledyne Technologies Incorporated (TDY)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	885,700	788,600	445,300	401,900	402,300
Total assets	US$ in thousands	14,527,900	14,354,000	14,430,300	5,084,800	4,579,800
ROA		6.10%	5.49%	3.09%	7.90%	8.78%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $885,700K ÷ $14,527,900K
= 6.10%

The return on assets (ROA) for Teledyne Technologies Inc has fluctuated over the past five years. In 2023, the company's ROA was 6.10%, reflecting an increase from the previous year's 5.49%. This indicates that the company's ability to generate profits from its assets improved in 2023.

Comparing to two years prior, in 2022, Teledyne Technologies Inc had an ROA of 3.09%, which represents a significant increase in 2023. Additionally, the ROA in 2023 was lower than that of 2021, when it stood at 7.90%.

The highest ROA in the provided data was recorded in 2019 at 8.78%, indicating that in that year, the company was very efficient in generating profits from its assets. Overall, the trend in ROA for Teledyne Technologies Inc shows variability over the past five years, with improvement in 2023 compared to the previous year, but still below the level achieved in 2021.