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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Myers Industries's annualized Net Income for the quarter that ended in Dec. 2023 was $50.2 Mil. Myers Industries's average total tangible assets for the quarter that ended in Dec. 2023 was $395.2 Mil. Therefore, Myers Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 12.69%.
The historical rank and industry rank for Myers Industries's Return-on-Tangible-Asset or its related term are showing as below:
During the past 13 years, Myers Industries's highest Return-on-Tangible-Asset was 16.26%. The lowest was -3.71%. And the median was 7.15%.
The historical data trend for Myers Industries's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Myers Industries Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Return-on-Tangible-Asset | Get a 7-Day Free Trial | 9.45 | 13.74 | 10.73 | 16.26 | 12.27 |
Myers Industries Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Return-on-Tangible-Asset | Get a 7-Day Free Trial | 13.48 | 12.87 | 10.48 | 12.94 | 12.69 |
For the Packaging & Containers subindustry, Myers Industries's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Packaging & Containers industry and Consumer Cyclical sector, Myers Industries's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Myers Industries's Return-on-Tangible-Asset falls into.
Myers Industries's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(A: Dec. 2023 ) | (A: Dec. 2022 ) | (A: Dec. 2023 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(A: Dec. 2023 ) | (A: Dec. 2022 ) | (A: Dec. 2023 ) | |||||
= | 48.867 | / | ( (395.725 | + | 401.11) | / 2 ) | |
= | 48.867 | / | 398.4175 | ||||
= | 12.27 % |
Myers Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(Q: Dec. 2023 ) | (Q: Sep. 2023 ) | (Q: Dec. 2023 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(Q: Dec. 2023 ) | (Q: Sep. 2023 ) | (Q: Dec. 2023 ) | |||||
= | 50.156 | / | ( (389.207 | + | 401.11) | / 2 ) | |
= | 50.156 | / | 395.1585 | ||||
= | 12.69 % |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
Myers Industries (NYSE:MYE) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Thank you for viewing the detailed overview of Myers Industries's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Yvette Dapremont Bright | director | 739 WESTVIEW STREET, PHILADELPHIA PA 19119 |
Michael P. Mcgaugh | director, officer: President and CEO | 1293 SOUTH MAIN STREET, AKRON OH 44301 |
Fitz E Grant | officer: EVP & CFO | C/O BLINK CHARGING CO., 407 LINCOLN ROAD, SUITE 704, MIAMI BEACH FL 33139 |
Lori A. Lutey | director | 3101 PACKERLAND DRIVE, GREEN BAY WI 54313 |
Jeffrey Kramer | director | C/O SCHWEITZER-MAUDUIT INTERNT'L, INC., SUITE 600, ALPHARETTA GA 30022 |
Liebau Frederic Jack Jr | director | P.O. BOX 2200, PASADENA CA 91102-2200 |
William A Foley | director | P O BOX 10060, TOLEDO OH 436990060 |
Monica P. Vinay | officer: Interim CFO, VP and Treasurer | 1293 SOUTH MAIN STREET, AKRON OH 44301 |
Bruce M Lisman | director | C/O MERCHANTS BANK, 275 KENNEDY DR, S. BURLINGTON VT 05403 |
Ronald M Defeo | director | 600 GRANT STREET, SUITE 5100, PITTSBURGH PA 15219 |
Jim Gurnee | officer: VP Sales/Marketing/Commercial | 1293 S MAIN ST, AKRON OH 44301 |
Paul Allan Johnson | officer: VP, Distribution Segment | 1293 SOUTH MAIN STREET, AKRON OH 44301 |
Jeffrey Jon Baker | officer: VP, Shared Services | 1293 SOUTH MAIN STREET, AKRON OH 44301 |
Sarah R Coffin | director | 31515 BALLANTYNE CORP, C/O SPX CORP, CHARLOTTE NC 28277 |
Sonal P. Robinson | officer: EVP, Finance | 1293 SOUTH MAIN STREET, AKRON OH 44301 |
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