The latest data point for APP's operating ROA metrics in Q4'25 shows ROE at 51.6%, ROA at 15.2%, and ROIC at 20.3%, indicating robust profitability with ROE leading as the strongest measure of equity efficiency. This quarter reflects a stabilization after earlier peaks, with ROA and ROIC maintaining positive momentum while ROE experiences a slight pullback from its Q1'25 high. Over the period from Q1'23 to Q4'25, all metrics exhibit a strong upward trend, transforming from initial losses or low returns—such as ROE at -0.2% and ROA at -0.1% in Q1'23—to consistent growth, with ROE surging over 200x and ROIC more than doubling to 20.3%. Key inflection points include rapid acceleration in 2024, where ROA climbed from 4.5% in Q1'24 to 10.2% in Q4'24, followed by minor volatility in 2025, yet overall patterns underscore improving operational efficiency and capital utilization for APP.