Trimble Inc (TRMB)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 311,300 | 449,700 | 492,700 | 389,900 | 514,300 |
| Total assets | US$ in thousands | 9,539,300 | 7,269,000 | 7,099,600 | 6,876,900 | 6,640,700 |
| ROA | 3.26% | 6.19% | 6.94% | 5.67% | 7.74% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $311,300K ÷ $9,539,300K
= 3.26%
Trimble Inc's return on assets (ROA) has shown a fluctuating trend over the past five years. The ROA decreased from 7.74% in 2019 to 5.67% in 2020, indicating a decline in the company's ability to generate profit from its assets during that period. However, the ROA increased in 2021 to 6.94% and further to 6.19% in 2022, which suggests an improvement in efficiency in utilizing its assets to generate earnings.
In 2023, Trimble Inc's ROA decreased to 3.26%, marking a significant drop compared to the previous years. This decline may be reflective of challenges or changes in the company's operations, asset base, or profitability.
Overall, the variations in Trimble Inc's ROA reflect changes in the company's performance in generating profit from its assets. Further analysis and understanding of the underlying factors influencing these fluctuations would be necessary to assess the company's financial health and operational efficiency in utilizing its assets.
Peer comparison
Dec 31, 2023