Olympic Steel Inc (ZEUS)
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 | 77,671 | 72,054 | 70,255 | 98,348 | 133,747 | 162,353 | 205,427 | 193,999 | 172,467 | 141,557 | 79,034 | 29,112 | 573 | -3,782 | 162 | 13,587 | 16,610 | 17,369 | 32,402 | 50,781 |
| Total assets | US$ in thousands | 984,835 | 992,806 | 1,013,980 | 1,026,790 | 891,627 | 1,036,980 | 1,086,120 | 1,043,700 | 1,023,570 | 1,043,700 | 887,689 | 738,359 | 1,023,570 | 619,303 | 643,135 | 677,967 | 649,555 | 698,743 | 724,405 | 799,362 |
| Operating ROA | 7.89% | 7.26% | 6.93% | 9.58% | 15.00% | 15.66% | 18.91% | 18.59% | 16.85% | 13.56% | 8.90% | 3.94% | 0.06% | -0.61% | 0.03% | 2.00% | 2.56% | 2.49% | 4.47% | 6.35% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $77,671K ÷ $984,835K
= 7.89%
The operating return on assets (operating ROA) of Olympic Steel Inc. has exhibited some fluctuations over the past eight quarters. In Q4 2023, the operating ROA stood at 7.89%, showing a slight increase from the previous quarter's 7.26%. However, this figure is lower compared to the levels seen in Q4 2022 and prior quarters, where the operating ROA exceeded 15%.
The downward trend in operating ROA from 18.91% in Q2 2022 to 7.89% in Q4 2023 may indicate decreasing operational efficiency or profitability relative to the company's asset base. It is essential for Olympic Steel Inc. to analyze the reasons behind this decline in operating ROA and implement strategies to improve operational performance and asset utilization. Further examination of the company's cost structure, revenue generation, and asset management practices may provide insights into enhancing the operating ROA in the upcoming quarters.
Peer comparison
Dec 31, 2023