Zimmer Biomet Holdings Inc (ZBH)

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	1,024,000	474,300	505,600	449,700	231,400	277,900	229,500	217,700	401,600	819,300	916,200	567,700	-138,900	-151,900	36,700	377,000	1,131,600	-90,200	-359,100	-307,800
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
ROA		4.76%	2.24%	2.37%	2.12%	1.10%	1.30%	1.07%	1.01%	1.71%	3.41%	3.78%	2.36%	-0.57%	-0.63%	0.16%	1.48%	4.59%	-0.37%	-1.48%	-1.27%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $1,024,000K ÷ $21,496,900K
= 4.76%

Zimmer Biomet Holdings Inc's return on assets (ROA) has shown variability over the past eight quarters. The ROA ranged from a low of 1.01% in Q1 2022 to a high of 4.76% in Q4 2023. This indicates fluctuations in the company's ability to generate profits relative to its total assets during the period under review. Overall, there seems to be an improving trend in ROA from the earlier quarters of 2022 to the later quarters of 2023, suggesting potential efficiency gains in asset utilization or profitability improvement. Further analysis would be required to determine the underlying factors contributing to these changes in ROA and their implications for the company's financial performance and operational effectiveness.