Titan International Inc (TWI)

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	148,727	168,911	192,427	216,230	205,802	189,225	161,634	115,652	85,175	45,011	15,303	-11,517	-35,351	-37,034	-42,842	-42,171	-28,432	-11,835	5,604	26,998
Total assets	US$ in thousands	1,289,240	1,257,740	1,305,150	1,344,810	1,284,630	1,247,480	1,289,180	1,269,300	1,182,680	1,144,260	1,127,440	1,071,450	1,031,880	1,016,350	1,031,290	1,060,250	1,114,310	1,189,600	1,269,530	1,325,260
Operating ROA		11.54%	13.43%	14.74%	16.08%	16.02%	15.17%	12.54%	9.11%	7.20%	3.93%	1.36%	-1.07%	-3.43%	-3.64%	-4.15%	-3.98%	-2.55%	-0.99%	0.44%	2.04%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $148,727K ÷ $1,289,240K
= 11.54%

Titan International, Inc.'s operating return on assets (operating ROA) has shown a fluctuating trend over the past eight quarters. The operating ROA ranged from a high of 16.08% in Q1 2023 to a low of 9.11% in Q1 2022. Despite some quarterly variations, the average operating ROA over this period appears to be relatively stable. However, it is worth noting that there was a noticeable uptick in Q2 and Q3 of 2023, potentially indicating improved efficiency in asset utilization or profitability during those periods. Further analysis of the company's operational performance and asset management strategies would be required to determine the factors influencing these fluctuations in operating ROA.