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

Company name
Symbol
ROA
ChampionX Corporation
CHX
9.69%
Dover Corporation
DOV
9.31%