Gentherm Inc (THRM)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	40,343	24,441	93,434	59,690	37,506
Total assets	US$ in thousands	1,234,370	1,239,300	935,343	1,022,840	738,832
ROA		3.27%	1.97%	9.99%	5.84%	5.08%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $40,343K ÷ $1,234,370K
= 3.27%

Gentherm Inc's return on assets (ROA) has fluctuated over the past five years. In 2023, the ROA increased to 3.27% from 1.97% in 2022. This improvement signifies a better utilization of the company's assets to generate earnings. However, compared to the exceptionally high ROA of 9.99% in 2021, the current ROA remains lower. In 2020 and 2019, the ROA was 5.84% and 5.16%, respectively. Overall, the company has shown varying levels of efficiency in generating profits relative to its total assets over the years, with the recent increase in 2023 indicating a positive trend.