Tetra Tech Inc (TTEK)
Return on assets (ROA)
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 273,420 | 263,125 | 232,810 | 173,859 | 158,668 |
| Total assets | US$ in thousands | 3,820,480 | 2,622,780 | 2,576,560 | 2,378,560 | 2,147,410 |
| ROA | 7.16% | 10.03% | 9.04% | 7.31% | 7.39% |
September 30, 2023 calculation
ROA = Net income ÷ Total assets
= $273,420K ÷ $3,820,480K
= 7.16%
Over the past five years, Tetra Tech Inc's return on assets (ROA) has exhibited some fluctuations. In Sep 2023, the ROA was 7.16%, showing a decrease from the previous year's figure of 10.03% in Sep 2022. This decline suggests that the company was less efficient in generating profits from its assets in 2023 compared to 2022.
However, when compared to earlier years, the ROA in 2023 is still higher than the ROA in Sep 2020 and Sep 2019, which were 7.31% and 7.39%, respectively. This indicates that Tetra Tech Inc's asset utilization in 2023 was more effective than in those years.
Overall, Tetra Tech Inc's ROA has shown variability over the period under review, with fluctuations possibly reflecting changes in the company's operational efficiency and asset management strategies. Further analysis and comparison with industry peers can provide more insights into the company's performance in efficiently utilizing its assets to generate profits.
Peer comparison
Sep 30, 2023