Cleveland-Cliffs Inc (CLF)
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 | 399,000 | 340,000 | 228,000 | 477,000 | 1,335,000 | 2,442,000 | 3,564,000 | 3,748,000 | 2,988,000 | 2,159,000 | 875,000 | -29,000 | -122,000 | -122,600 | -21,700 | 263,100 | 293,000 | 839,100 | 1,186,000 | 1,190,300 |
| Total assets | US$ in thousands | 17,537,000 | 18,059,000 | 18,303,000 | 18,652,000 | 18,755,000 | 19,688,000 | 20,039,000 | 19,768,000 | 18,975,000 | 18,066,000 | 17,746,000 | 17,215,000 | 16,771,000 | 8,480,900 | 8,490,700 | 8,912,300 | 3,504,000 | 3,491,200 | 3,393,200 | 3,306,300 |
| ROA | 2.28% | 1.88% | 1.25% | 2.56% | 7.12% | 12.40% | 17.79% | 18.96% | 15.75% | 11.95% | 4.93% | -0.17% | -0.73% | -1.45% | -0.26% | 2.95% | 8.36% | 24.03% | 34.95% | 36.00% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $399,000K ÷ $17,537,000K
= 2.28%
Cleveland-Cliffs Inc's return on assets (ROA) has shown significant fluctuations over the past eight quarters. The ROA ranged from a high of 18.96% in Q1 2022 to a low of 1.25% in Q2 2023. The downward trend from 18.96% in Q1 2022 to 1.25% in Q2 2023 indicates a declining efficiency in generating profits from its assets during this period.
The notable drop in ROA could be attributed to various factors such as increased costs, lower sales revenues, or a decrease in asset efficiency. It is important for the company to closely monitor its asset management strategies to improve its ROA performance and ensure sustainable profitability. Further analysis of the company's financial and operational performance is recommended to identify the key drivers behind the fluctuating ROA figures.
Peer comparison
Dec 31, 2023