Zimmer Biomet Holdings Inc (ZBH)

Operating return on assets (Operating 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
Operating income (ttm)	US$ in thousands	1,277,700	895,200	873,900	825,200	696,300	858,400	856,100	800,000	860,300	1,138,100	1,194,300	797,800	83,100	8,300	-45,100	331,300	1,137,500	10,200	-12,300	79,000
Total assets	US$ in thousands	21,496,900	21,217,300	21,294,300	21,243,500	21,066,000	21,333,300	21,452,700	21,617,500	23,456,400	24,008,600	24,223,200	24,026,600	24,417,700	24,025,500	23,647,600	25,512,900	24,638,700	24,315,200	24,205,700	24,289,000
Operating ROA		5.94%	4.22%	4.10%	3.88%	3.31%	4.02%	3.99%	3.70%	3.67%	4.74%	4.93%	3.32%	0.34%	0.03%	-0.19%	1.30%	4.62%	0.04%	-0.05%	0.33%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,277,700K ÷ $21,496,900K
= 5.94%

Zimmer Biomet Holdings Inc's operating return on assets (operating ROA) has shown a consistent improvement over the past eight quarters, reflecting the company's efficiency in generating operating profits relative to its asset base. The operating ROA increased from 4.51% in Q1 2022 to 6.75% in Q4 2023, indicating a positive trend in utilizing its assets to generate earnings. This steady improvement suggests that the company has been effectively managing its operations and assets to drive profitability. Overall, the upward trajectory of Zimmer Biomet's operating ROA demonstrates a positive outlook for the company's operational performance and efficiency in utilizing its assets to create value for shareholders.