Bio-Techne Corp (TECH)

Operating return on assets (Operating ROA)

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Operating income	US$ in thousands	206,686	298,944	296,590	237,296	157,419
Total assets	US$ in thousands	2,703,870	2,638,690	2,294,800	2,262,960	2,027,590
Operating ROA		7.64%	11.33%	12.92%	10.49%	7.76%

June 30, 2024 calculation

Operating ROA = Operating income ÷ Total assets
= $206,686K ÷ $2,703,870K
= 7.64%

Bio-Techne Corp's operating return on assets (operating ROA) has displayed fluctuations over the past five years. The trend indicates that the company's ability to generate operating income from its assets has varied.

The operating ROA was at its highest in 2022 at 12.92%, reflecting strong operational efficiency in utilizing its assets to generate operating profits. This was followed by a decrease in 2023 to 11.33%, although the company still maintained a relatively high return on assets.

In 2024, the operating ROA declined further to 7.64%, which signifies a decrease in the company's ability to generate operating income relative to its assets compared to the prior years. However, despite the decrease in 2024, the operating ROA remained above the 7% mark.

Overall, Bio-Techne Corp's operating ROA has shown variability, but the company has generally been able to generate a positive return on its assets over the past five years, albeit at different levels. Further analysis and comparison with industry benchmarks may provide deeper insights into the company's operational performance and asset utilization efficiency.