# What is ROA?

Informational only - not investment advice.

Book: [Reading Financial Data - Step by Step](/guide/)
Chapter: [Cash flow & returns](/guide/cash-flow-returns/)
As of: 2026-02-13

ROA compares net income with total assets.

## Concept

ROA = net income / assets. It uses a bigger denominator than ROE for many companies.

## Worked Example: Compute Apple return on assets

1. AAPL net income was $112.0 billion in fiscal 2025.
2. AAPL assets were $359.2 billion.
3. ROA = net income / assets = $112.0 billion / $359.2 billion = 31.18%.
4. For comparison, JPM assets were $4,424.9 billion and its ROA was 1.29%.
5. Banks carry large loan and securities balances, so ROA often reads differently from non-financial companies.

## See it live

- [AAPL company page](/company/AAPL/)
- [JPM company page](/company/JPM/)

## Sources

- [AAPL SEC companyfacts](https://data.sec.gov/api/xbrl/companyfacts/CIK0000320193.json)
- [JPM SEC companyfacts](https://data.sec.gov/api/xbrl/companyfacts/CIK0000019617.json)
- [AAPL latest 10-K source](https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm)