Vulcan Materials Company (VMC)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	933,200	575,600	670,800	584,500	617,700
Total assets	US$ in thousands	14,545,700	14,234,600	13,682,600	11,686,900	10,648,800
ROA		6.42%	4.04%	4.90%	5.00%	5.80%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $933,200K ÷ $14,545,700K
= 6.42%

The return on assets (ROA) for Vulcan Materials Co has shown a fluctuating trend over the past five years. In 2023, the ROA improved to 6.42% from 4.04% in 2022. This indicates that the company generated a higher level of net income relative to its total assets in 2023. However, the ROA in 2023 is still below the levels seen in 2019 and 2020, which were 5.80% and 5.00% respectively.

Overall, the ROA performance of Vulcan Materials Co demonstrates variations over the years, suggesting fluctuations in the company's ability to efficiently utilize its assets to generate profits. Further analysis of the company's financial strategy and operational efficiency is recommended to understand the factors driving these fluctuations in ROA.