Teleflex Incorporated (TFX)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	356,328	363,139	485,374	335,324	461,466
Total assets	US$ in thousands	7,532,550	6,928,060	6,871,720	7,152,560	6,309,820
ROA		4.73%	5.24%	7.06%	4.69%	7.31%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $356,328K ÷ $7,532,550K
= 4.73%

Teleflex Incorporated's return on assets (ROA) has fluctuated over the past five years. In 2023, the ROA decreased to 4.73% from 5.24% in 2022, indicating that the company generated less profit per dollar of assets compared to the previous year. The ROA in 2023 is also lower than the 5-year high of 7.31% recorded in 2019. Despite this, the ROA in 2023 is still higher than the 2020 figure, suggesting some improvement in asset utilization compared to the previous year. Overall, the trend in Teleflex's ROA indicates variability in the company's ability to generate profits relative to its asset base over the past five years.