Bio-Techne Corp (TECH)

Return on assets (ROA)

		Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	168,105	203,001	224,160	246,700	285,262	271,302	261,823	291,991	272,051	225,487	210,530	176,631	140,411	184,298	174,948	248,296	229,299	186,911	195,133	93,067
Total assets	US$ in thousands	2,703,870	2,721,170	2,730,750	2,755,360	2,638,690	2,599,700	2,363,400	2,350,720	2,294,800	2,299,890	2,304,850	2,270,190	2,262,960	2,084,640	2,067,870	2,053,100	2,027,590	1,999,020	1,998,420	1,925,030
ROA		6.22%	7.46%	8.21%	8.95%	10.81%	10.44%	11.08%	12.42%	11.86%	9.80%	9.13%	7.78%	6.20%	8.84%	8.46%	12.09%	11.31%	9.35%	9.76%	4.83%

June 30, 2024 calculation

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

The return on assets (ROA) for Bio-Techne Corp has fluctuated over the past few quarters, ranging from a low of 4.83% in the fourth quarter of 2019 to a high of 12.42% in the third quarter of 2022. The trend in ROA shows some variability, possibly indicating changing efficiency in generating profits from its assets.

Overall, Bio-Techne Corp has maintained a relatively healthy ROA, with the latest reported ROA at 6.22% as of June 30, 2024. This suggests that the company is generating a positive return on its assets, albeit at a slightly lower rate compared to the previous quarter.

It is important to note that analyzing ROA in conjunction with other financial metrics and qualitative factors can provide a more comprehensive understanding of Bio-Techne Corp's overall financial performance and efficiency in utilizing its assets to generate profits.