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A ratio that measures the dollars in net profit a business generates per dollar of assets it owns.
Return on Assets is defined as:
Return on Assets = Net Income / Average Total Assets
Return on Assets for Arrow Electronics is calculated as follows:
Net Income [ 393.5 M ]
(/) Average Assets over Period [ 21.742 B ]
(=) Return on Assets [ 1.8% ]
The tables below summarizes the trend in Arrow Electronics’s return on assets over the last five years:
| Fiscal Year | Net Income | Average Assets | Return on Assets |
|---|---|---|---|
| 2020-12-31 | 586.5 M | 16.727 B | 3.5% |
| 2021-12-31 | 1.11 B | 18.295 B | 6.1% |
| 2022-12-31 | 1.435 B | 20.649 B | 7.0% |
| 2023-12-31 | 909.4 M | 21.745 B | 4.2% |
| 2024-12-31 | 393.5 M | 21.742 B | 1.8% |
Return on assets represents the dollars in earnings or Net Income a company generates per dollar of assets. ROA is typically used to gauge the efficiency of the company and its management at deploying capital to generate income for shareholders.
The net income used in the numerator is often adjusted for one-time and non-recurring items to present a clearer view of future earnings. Since income is earned over the course of a year, we average Total Assets at the start and end of the year for the denominator.
In general, a higher return on assets suggests management is utilizing the asset base efficiently.
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