Ultra Clean Holdings Inc (UCTT)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Operating income (ttm)	US$ in thousands	91,300	69,900	50,400	40,100	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
Total assets	US$ in thousands	1,919,900	1,947,500	1,927,300	1,887,600	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
Operating ROA		4.76%	3.59%	2.62%	2.12%	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%

December 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $91,300K ÷ $1,919,900K
= 4.76%

Ultra Clean Holdings Inc's operating return on assets (operating ROA) has exhibited fluctuating trends over the periods provided. The operating ROA increased steadily from March 31, 2020, where it stood at 4.13%, to a peak of 11.69% on March 31, 2021. Following this peak, the operating ROA experienced a decline but remained relatively stable around 7-9% until June 30, 2022. From September 30, 2022, the operating ROA began to decrease, reaching its lowest point of 1.88% on December 31, 2023.

However, after this low point, the operating ROA started to recover, showing an upward trend through December 31, 2024, where it stood at 4.76%. It is worth noting that while there have been fluctuations in the operating ROA, the company managed to maintain positive returns on its assets throughout the period.

Overall, the analysis indicates that Ultra Clean Holdings Inc's operating ROA has shown both resilience and responsiveness to changes in its operational efficiency and asset utilization over the specified time frame.