What is Patrick Industries Return-on-Tangible-Asset?
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. Patrick Industries's annualizedNet Income for the quarter that ended in Dec. 2023 was $123 Mil. Patrick Industries's average total tangible assets for the quarter that ended in Dec. 2023 was $1,311 Mil. Therefore, Patrick Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 9.40%.
The historical rank and industry rank for Patrick Industries's Return-on-Tangible-Asset or its related term are showing as below:
PATK'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.33 Med: 21.11 Max: 26.15
Current: 10.33
During the past 13 years, Patrick Industries's highest Return-on-Tangible-Asset was 26.15%. The lowest was 10.33%. And the median was 21.11%.
PATK's Return-on-Tangible-Asset is ranked better than 83.69% of 423
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 3.45
vs PATK: 10.33
Patrick Industries Return-on-Tangible-Asset Historical Data
The historical data trend for Patrick 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.
Competitive Comparison of Patrick Industries's Return-on-Tangible-Asset
For the Furnishings, Fixtures & Appliances subindustry, Patrick 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.
Patrick Industries's Return-on-Tangible-Asset Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Patrick Industries's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Patrick Industries's Return-on-Tangible-Asset falls into.
Patrick Industries Return-on-Tangible-Asset Calculation
Patrick Industries's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:
* 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.
Patrick Industries (NAS:PATK) 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.
Patrick Industries Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Patrick Industries's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Patrick Industries (Patrick Industries) Business Description
Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.
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