Bio-Techne Corp (TECH)

Return on assets (ROA)

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Net income	US$ in thousands	168,105	285,263	272,051	140,410	229,296
Total assets	US$ in thousands	2,703,870	2,638,690	2,294,800	2,262,960	2,027,590
ROA		6.22%	10.81%	11.86%	6.20%	11.31%

June 30, 2024 calculation

ROA = Net income ÷ Total assets
= $168,105K ÷ $2,703,870K
= 6.22%

Bio-Techne Corp's Return on Assets (ROA) has exhibited some fluctuation over the past five years. The company's ROA was 6.22% as of June 30, 2024, showing a decrease compared to 10.81% in the previous year. This decline may indicate a lower level of efficiency in generating profits from its assets in the most recent period.

Looking further back, Bio-Techne Corp's ROA was 11.86% in June 2022, which was the highest point in the five-year period analyzed. This indicates that the company was able to generate significant earnings relative to its total assets in that year. However, the ROA dropped to 6.20% in June 2021 before rebounding to 11.31% in June 2020.

Overall, the trend in Bio-Techne Corp's ROA suggests some variability in the company's ability to utilize its assets effectively to generate profits. Further analysis may be warranted to understand the factors driving these fluctuations and to assess the company's ongoing financial performance.