Ultra Clean Holdings Inc (UCTT)

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	35,200	74,500	105,100	87,000	120,300	139,300	153,600	191,000	185,700	156,000	140,300	139,200	121,400	92,700	66,100	44,300	29,900	35,706	28,328	41,992
Total assets	US$ in thousands	1,867,700	1,845,500	1,843,700	1,865,900	1,960,900	1,956,000	1,945,400	2,011,600	2,025,400	1,924,000	1,846,700	1,190,600	1,102,500	1,060,300	1,102,500	1,072,200	1,019,300	1,019,300	1,008,960	1,019,300
Operating ROA		1.88%	4.04%	5.70%	4.66%	6.13%	7.12%	7.90%	9.49%	9.17%	8.11%	7.60%	11.69%	11.01%	8.74%	6.00%	4.13%	2.93%	3.50%	2.81%	4.12%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $35,200K ÷ $1,867,700K
= 1.88%

The operating return on assets (operating ROA) for Ultra Clean Holdings Inc fluctuated over the periods analyzed. The trend indicates that the company's ability to generate profits from its assets varied, with the highest operating ROA of 11.69% observed in March 2021, and the lowest of 1.88% reported in December 2023.

Overall, Ultra Clean Holdings Inc demonstrated moderately positive operating ROA, showing a general ability to efficiently utilize its assets to generate operating profits. However, the decreasing trend from the first quarter of 2020 to the end of 2023 may raise concerns about the company's profitability and asset utilization efficiency. Further analysis of the company's financial performance and operational efficiency is recommended to identify factors influencing these fluctuations in operating ROA.