ChampionX Corporation (CHX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 314,238 | 154,969 | 113,299 | -743,930 | 52,164 |
| Total assets | US$ in thousands | 3,241,700 | 3,387,480 | 3,534,700 | 3,475,780 | 1,922,820 |
| ROA | 9.69% | 4.57% | 3.21% | -21.40% | 2.71% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $314,238K ÷ $3,241,700K
= 9.69%
ChampionX Corp.'s return on assets (ROA) has shown significant improvement over the last five years. The ROA increased from a negative figure of -21.40% in 2020 to 9.69% in 2023, indicating a substantial turnaround in the company's asset utilization efficiency and profitability. This upward trend suggests that ChampionX Corp. has been able to generate a higher level of profit relative to its total assets in recent years. Overall, the consistent improvement in ROA reflects positively on the company's ability to effectively manage its assets and generate returns for its shareholders.
Peer comparison
Dec 31, 2023