Titan International Inc (TWI)

Return on assets (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
Net income (ttm)	US$ in thousands	78,760	123,365	147,254	184,218	176,302	161,860	129,878	59,934	49,586	4,774	-19,056	-21,328	-60,388	-68,009	-74,510	-75,889	-48,426	-35,882	-14,443	417
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
ROA		6.11%	9.81%	11.28%	13.70%	13.72%	12.97%	10.07%	4.72%	4.19%	0.42%	-1.69%	-1.99%	-5.85%	-6.69%	-7.22%	-7.16%	-4.35%	-3.02%	-1.14%	0.03%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $78,760K ÷ $1,289,240K
= 6.11%

Titan International, Inc.'s return on assets (ROA) has fluctuated over the past eight quarters. In Q4 2023, the ROA was 6.11%, which was lower compared to the previous quarter but higher than Q1 2022 and Q2 2022. This decrease may indicate a decrease in the company's efficiency in generating profits from its assets in the most recent quarter.

However, Titan International had higher ROA figures in the preceding quarters, with a peak of 13.70% in Q1 2023. The substantial increase in ROA from Q2 2022 to Q1 2023 suggests that the company was efficiently utilizing its assets during that period to generate profits.

Overall, Titan International's ROA has shown variability, with some quarters displaying strong asset utilization and others showing a decline. It is essential for investors and stakeholders to closely monitor the company's asset management strategies and profitability performance to assess its overall financial health and efficiency in utilizing its assets.