Waters Corporation (WAT)

Return on assets (ROA)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	642,234	653,091	674,537	688,847	707,755	696,932	702,119	704,547	692,843	694,915	660,499	616,136	521,571	503,929	515,293	536,774	592,198	576,681	579,562	590,829
Total assets	US$ in thousands	4,626,850	4,497,180	4,548,200	3,306,820	3,281,450	3,070,050	3,040,570	3,041,270	3,094,930	3,115,920	3,103,650	3,211,560	2,839,920	2,679,290	2,648,300	2,666,520	2,557,060	2,561,260	2,822,920	3,249,730
ROA		13.88%	14.52%	14.83%	20.83%	21.57%	22.70%	23.09%	23.17%	22.39%	22.30%	21.28%	19.18%	18.37%	18.81%	19.46%	20.13%	23.16%	22.52%	20.53%	18.18%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $642,234K ÷ $4,626,850K
= 13.88%

Waters Corp.'s return on assets (ROA) has exhibited a decreasing trend over the past quarters, starting at 23.17% in Q1 2022 and decreasing to 13.88% in Q4 2023. This decline indicates a decreasing ability of the company to generate profits relative to its total assets. The peak ROA of 23.17% in Q1 2022 was followed by a consistent downward trend, showcasing potential inefficiencies in asset utilization or declining profitability. It is important for investors and stakeholders to closely monitor this trend and investigate the factors contributing to the declining ROA to assess the company's overall financial health and operational efficiency.