CleanSpark Inc (CLSK)
Operating return on assets (Operating ROA)
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | -149,043 | -131,043 | -37,864 | -11,898 | -15,143 |
| Total assets | US$ in thousands | 1,962,660 | 761,578 | 452,625 | 317,473 | 22,340 |
| Operating ROA | -7.59% | -17.21% | -8.37% | -3.75% | -67.78% |
September 30, 2024 calculation
Operating ROA = Operating income ÷ Total assets
= $-149,043K ÷ $1,962,660K
= -7.59%
The operating return on assets (ROA) of CleanSpark Inc has exhibited significant fluctuations over the period from September 30, 2020, to September 30, 2024. In fiscal 2020, the company recorded a markedly negative operating ROA of approximately -67.78%, indicating substantial operating inefficiencies or losses relative to its asset base during that period.
By September 30, 2021, there was a notable improvement, with the operating ROA narrowing considerably to approximately -3.75%. This sharp reduction suggests a significant enhancement in operational efficiency or a reduction in operating losses, bringing the company closer to breakeven relative to its assets.
However, in subsequent years, the operating ROA reverted to more negative figures: -8.37% as of September 30, 2022, and further to -17.21% by September 30, 2023. These declines indicate a deterioration in operating profitability or an increase in operating expenses, leading to less effective utilization of assets in generating operating income.
In the latest reported period, September 30, 2024, the operating ROA improved modestly to approximately -7.59%. Although this indicates some recovery relative to the previous year, the metric remains negative, reflecting ongoing operational challenges and that the company's operating income continues to be insufficient to fully leverage its asset base profitably.
Overall, the data depict a company that has experienced substantial operational losses over these years, with intermittent periods of improvement. The persistent negative operating ROA underscores ongoing operational difficulties, albeit with some signs of narrowing losses which could suggest efforts toward operational restructuring or efficiency improvements.
Peer comparison
Sep 30, 2024