Olympic Steel Inc (ZEUS)
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 | 44,529 | 41,080 | 40,896 | 63,501 | 90,931 | 121,051 | 153,538 | 145,563 | 130,269 | 97,976 | 51,923 | 15,820 | -5,595 | -8,271 | -6,160 | 2,375 | 3,856 | 3,430 | 14,438 | 28,205 |
| 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 |
| ROA | 4.52% | 4.14% | 4.03% | 6.18% | 10.20% | 11.67% | 14.14% | 13.95% | 12.73% | 9.39% | 5.85% | 2.14% | -0.55% | -1.34% | -0.96% | 0.35% | 0.59% | 0.49% | 1.99% | 3.53% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $44,529K ÷ $984,835K
= 4.52%
Olympic Steel Inc.'s return on assets (ROA) has shown a decreasing trend over the past quarters, dropping from 13.29% in Q2 2022 to 4.52% in Q4 2023. The significant decline in ROA indicates that the company's ability to generate profits from its assets has weakened.
The relatively high ROA figures in Q1 and Q4 of 2022 suggest that the company was more efficient in utilizing its assets to generate profits during that period. However, the decreasing trend from Q1 2023 onwards may indicate operational challenges or changes in the company's asset management strategies.
Overall, the fluctuating ROA numbers suggest that Olympic Steel Inc. may need to reassess its asset utilization efficiency and profitability levels to ensure sustainable performance in the future. It would be advisable for stakeholders to closely monitor the company's asset management practices and financial performance in upcoming quarters.
Peer comparison
Dec 31, 2023