Return on Activos

¿Qué es ROA?

ROA measures how efficiently a empresa uses its activos to generar ganancia. It shows what percentage of ganancia is generard from total activos.

Piénsalo así

Two pizza shops each have $100,000 in equipment (ovens, furniture). Shop A makes $10,000 ganancia (10% ROA). Shop B makes $5,000 (5% ROA). Shop A uses its activos twice as efficiently!

Fórmula

ROA = Net Income / Total Activos
  • Net Income: Total ganancia after all expenses
  • Total Activos: Everything the empresa poseers

Por qué importa

  • Muestra asset eficiencia
  • Altoer ROA = better asset utilization
  • Importantee for capital-intensive businesses
  • Compare competitors to find best operators

¿Cuál es un buen valor?

< 2%
Pobre
Inefficient asset use
2-5%
Below Promedio
Could mejorar eficiencia
5-10%
Promedio
Decent asset utilization
10-15%
Bueno
Efficient operations
> 15%
Excelente
Altoly efficient

Ejemplo del mundo real

Google ROA: 15% - asset-light model. Walmart ROA: 6% - inventory heavy. Airlines ROA: 3% - expensive planes. Software companies: 10-20% - few physical activos.

Cosas a tener en cuenta

  • Varies dramatically by industry
  • Asset-light businesses have higher ROA
  • Doesn't account for off-balance sheet activos
  • Can be inflated by asset write-dposeers

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