TechTarget Inc (TTGT)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	-2,269	56,693	34,354	22,821	22,739
Total assets	US$ in thousands	699,888	764,717	789,000	456,568	221,608
Operating ROA		-0.32%	7.41%	4.35%	5.00%	10.26%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $-2,269K ÷ $699,888K
= -0.32%

Techtarget Inc.'s operating return on assets (operating ROA) has exhibited fluctuating trends over the past five years. In 2019, the operating ROA stood at a relatively high level of 10.26%, indicating efficient utilization of the company's assets to generate operating income. However, there was a downward trend in the following years, with operating ROA declining to 5.00% in 2020 and further dropping to 4.35% in 2021.

Subsequently, in 2022, there was an improvement in operating ROA to 7.99%, suggesting a more effective management of assets to generate operating profits. However, this positive trend was short-lived as the operating ROA sharply declined to -0.32% in 2023. A negative operating ROA may indicate that the company's operating income is insufficient to cover the cost of assets used in its operations.

Overall, the fluctuating nature of Techtarget Inc.'s operating ROA over the past five years suggests varying levels of efficiency in utilizing its assets to generate operating profits. Further analysis of the company's financial performance and operational strategies may be required to understand the factors contributing to these changes.