Ufp Industries Inc (UFPI)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 514,312 | 692,651 | 535,640 | 246,778 | 179,650 |
| Total assets | US$ in thousands | 4,017,800 | 3,672,070 | 3,245,270 | 2,404,890 | 1,889,480 |
| ROA | 12.80% | 18.86% | 16.51% | 10.26% | 9.51% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $514,312K ÷ $4,017,800K
= 12.80%
The return on assets (ROA) of Ufp Industries Inc has shown a positive trend over the past five years, increasing from 9.51% in 2019 to 12.80% in 2023. This indicates that the company is becoming more effective at generating profit from its assets.
In particular, the ROA saw a significant improvement from 2020 to 2022, jumping from 10.26% to 18.86% before slightly decreasing to 16.51% in 2023. This suggests that the company has been able to enhance its asset utilization and efficiency in generating earnings during these years.
Overall, the upward trajectory of Ufp Industries Inc's ROA over the period indicates that the company has been successful in generating a favorable return on its assets, which is a positive signal for investors and stakeholders.