UFP Technologies Inc (UFPT)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	44,924	41,789	15,886	13,369	19,750
Total stockholders’ equity	US$ in thousands	286,091	237,545	194,446	176,893	161,991
ROE		15.70%	17.59%	8.17%	7.56%	12.19%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $44,924K ÷ $286,091K
= 15.70%

The return on equity (ROE) of UFP Technologies Inc has fluctuated over the past five years, as follows:
- In 2023, the ROE was 15.70%, representing a slight decrease from 17.59% in 2022.
- The ROE was relatively lower in 2021 at 8.17% compared to 2020 when it was 7.56%.
- The highest ROE among the last five years was recorded in 2019 at 12.19%.

Overall, the ROE shows some variability, indicating that the company's ability to generate profits from shareholders' equity has fluctuated over the years. Further analysis of the company's financial performance and operational efficiency may be necessary to understand the factors contributing to these fluctuations in ROE.