TTM Technologies Inc (TTMI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	42,316	105,298	165,278	181,072	210,408	145,916	128,373	132,059	125,991	122,089	49,602	31,710	28,092	28,316	89,699	95,695	109,629	82,925	116,344	119,086
Total assets	US$ in thousands	3,323,660	3,266,500	3,148,490	3,176,040	3,323,600	3,292,890	3,214,650	3,044,150	3,025,550	3,047,630	3,025,740	2,965,830	2,895,940	3,148,410	3,594,670	3,524,120	3,560,930	3,498,360	3,440,110	3,414,280
Operating ROA		1.27%	3.22%	5.25%	5.70%	6.33%	4.43%	3.99%	4.34%	4.16%	4.01%	1.64%	1.07%	0.97%	0.90%	2.50%	2.72%	3.08%	2.37%	3.38%	3.49%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $42,316K ÷ $3,323,660K
= 1.27%

TTM Technologies Inc's operating return on assets (ROA) demonstrates variability over the periods presented. From March 2019 to March 2020, the operating ROA ranged from 2.37% to 3.49%. Subsequently, there was a notable increase in the operating ROA to a peak of 6.33% in December 2022. However, this level was not sustained as the operating ROA declined to 1.27% in December 2023.

The fluctuation in operating ROA may indicate changes in the company's profitability and efficiency in generating profits from its assets. A higher operating ROA generally suggests better operational performance and asset utilization, while a lower figure may suggest inefficiencies or reduced profitability.

Further analysis would be required to understand the reasons behind these fluctuations and whether they are influenced by internal factors, external market conditions, or strategic decisions made by the company.