CleanSpark Inc (CLSK)
Return on assets (ROA)
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | -145,777 | -138,148 | -57,662 | -21,812 | -23,346 |
| Total assets | US$ in thousands | 1,962,660 | 761,578 | 452,625 | 317,473 | 22,340 |
| ROA | -7.43% | -18.14% | -12.74% | -6.87% | -104.50% |
September 30, 2024 calculation
ROA = Net income ÷ Total assets
= $-145,777K ÷ $1,962,660K
= -7.43%
The analysis of CleanSpark Inc.'s return on assets (ROA) over the specified period reveals a pattern characterized by fluctuations within a predominantly negative performance trajectory. As of September 30, 2020, the company's ROA was markedly negative at -104.50%, indicating a significant loss relative to its asset base. Over the subsequent year, there was a notable improvement, with the ROA improving to -6.87% as of September 30, 2021, suggesting a substantial reduction in losses and a transition toward more efficient asset utilization or improved profitability.
However, this positive trend was not sustained; by September 30, 2022, the ROA declined again to -12.74%, signaling a recession in asset efficiency or profitability deterioration. The following year, the ROA further worsened to -18.14%, reflecting an increased loss relative to assets and indicating challenges in translating asset investments into earnings. Interestingly, by September 30, 2024, the ROA showed some recovery to -7.43%, moving closer to the -6.87% figure from 2021 but remaining deeply in negative territory.
Overall, CleanSpark Inc.'s ROA over this period demonstrates persistent challenges in generating positive net income relative to its total assets. While there was a significant initial improvement between 2020 and 2021, subsequent years show volatility and ongoing losses, albeit with some signs of relief in 2024. This pattern suggests that the company has been navigating operational and financial hurdles, with intermittent periods of improved efficiency or profitability that have not yet resulted in a turnaround to consistently positive returns on assets.
Peer comparison
Sep 30, 2024