ChampionX Corporation (CHX)
Return on assets (ROA)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 314,238 | 304,897 | 250,254 | 181,799 | 154,969 | 130,561 | 164,321 | 144,229 | 113,299 | 77,207 | 12,465 | -104,430 | -743,930 | -753,110 | -733,802 | -601,220 | 52,164 | 77,174 | 89,741 | 88,620 |
| Total assets | US$ in thousands | 3,241,700 | 3,311,200 | 3,329,840 | 3,327,340 | 3,387,480 | 3,402,780 | 3,463,150 | 3,571,720 | 3,534,700 | 3,503,000 | 3,486,010 | 3,475,790 | 3,475,780 | 3,453,730 | 3,520,830 | 1,245,240 | 1,922,820 | 1,972,250 | 1,975,440 | 1,988,610 |
| ROA | 9.69% | 9.21% | 7.52% | 5.46% | 4.57% | 3.84% | 4.74% | 4.04% | 3.21% | 2.20% | 0.36% | -3.00% | -21.40% | -21.81% | -20.84% | -48.28% | 2.71% | 3.91% | 4.54% | 4.46% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $314,238K ÷ $3,241,700K
= 9.69%
ChampionX Corp.'s Return on Assets (ROA) has been on an upward trend over the past eight quarters, indicating improved efficiency in generating profit from its assets. From Q1 2022 to Q4 2023, the ROA increased from 4.04% to 9.69%, demonstrating a positive trajectory in the company's asset utilization.
This consistent improvement in ROA suggests that ChampionX Corp. is effectively managing its assets to generate higher returns. It may have implemented strategies to enhance operational efficiency, optimize asset utilization, or allocate resources more effectively.
The latest ROA of 9.69% in Q4 2023 reflects a significant increase compared to the previous quarters, indicating a potentially favorable financial performance. Investors and stakeholders may view this upward trend positively, as it signifies that the company is becoming more profitable relative to the assets it holds.
Overall, the analysis of ChampionX Corp.'s ROA indicates a positive trend in asset utilization and profitability, highlighting the company's ability to generate returns from its investments and operations.
Peer comparison
Dec 31, 2023