Unifirst Corporation (UNF)
Return on equity (ROE)
| Aug 31, 2024 | May 25, 2024 | Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 145,474 | 126,565 | 106,318 | 119,818 | 103,674 | 103,015 | 103,656 | 103,404 | 111,837 | 128,786 | 142,920 | 151,111 | 148,060 | 127,329 | 129,424 | 135,770 | 150,195 | 176,130 | 189,056 | 179,134 |
| Total stockholders’ equity | US$ in thousands | 2,108,510 | 2,075,610 | 2,049,680 | 2,040,170 | 2,003,960 | 1,955,090 | 1,941,970 | 1,915,870 | 1,904,010 | 1,898,980 | 1,894,900 | 1,872,950 | 1,845,200 | 1,801,110 | 1,773,350 | 1,741,130 | 1,708,100 | 1,701,440 | 1,676,010 | 1,641,230 |
| ROE | 6.90% | 6.10% | 5.19% | 5.87% | 5.17% | 5.27% | 5.34% | 5.40% | 5.87% | 6.78% | 7.54% | 8.07% | 8.02% | 7.07% | 7.30% | 7.80% | 8.79% | 10.35% | 11.28% | 10.91% |
August 31, 2024 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $145,474K ÷ $2,108,510K
= 6.90%
The return on equity (ROE) of Unifirst Corporation has shown fluctuating trends over the past few years. ROE is a measure of a company's profitability that indicates how effectively it is utilizing shareholders' equity to generate profit.
From August 2019 to August 2020, the ROE consistently ranged between 10.91% and 11.28%, indicating a strong performance in utilizing shareholder funds to generate profit. However, from November 2020 to February 2022, there was a gradual decline in ROE, reaching a low of 5.19% in February 2024.
There was a slight recovery in ROE starting from May 2022, with the ROE increasing to 6.78% in February 2023 and further improving to 8.07% by August 2023. However, the ROE has not yet returned to the high levels seen in the previous years.
Overall, the company's ROE has shown volatility and a downward trend in recent years, indicating potential inefficiencies in utilizing shareholders' equity to generate profits. Further analysis of the company's financial performance and operational efficiency may be warranted to understand the factors contributing to these fluctuations in ROE.
Peer comparison
Aug 31, 2024