Tootsie Roll Industries Inc (TR)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 91,912 | 75,937 | 65,326 | 58,995 | 64,920 |
| Total stockholders’ equity | US$ in thousands | 823,422 | 783,171 | 769,042 | 763,327 | 759,854 |
| ROE | 11.16% | 9.70% | 8.49% | 7.73% | 8.54% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $91,912K ÷ $823,422K
= 11.16%
Tootsie Roll Industries, Inc.'s return on equity (ROE) has shown a positive trend over the past five years. The ROE increased from 8.54% in 2019 to 11.16% in 2023. This signals an improvement in the company's ability to generate profits from its shareholders' equity. It is noteworthy that the ROE has been consistently above the 7% threshold, indicating efficient utilization of equity capital. The increasing trend suggests that Tootsie Roll Industries, Inc. has been effectively managing its assets to generate higher returns for its shareholders. Overall, the improving ROE reflects positively on the company's performance and financial health.
Peer comparison
Dec 31, 2023