CleanSpark Inc (CLSK)
Return on equity (ROE)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | -190,422 | 75,105 | -145,777 | -158,477 | 63,546 | -81,649 | -136,589 | -104,011 | -119,132 | -100,843 | -57,326 | -20,392 | -7,729 | -158 | -21,812 | -23,508 | -15,382 | -28,597 | -23,345 | -28,379 |
| Total stockholders’ equity | US$ in thousands | 1,890,490 | 2,021,590 | 1,760,840 | 1,402,200 | 1,462,920 | 810,561 | 677,227 | 603,648 | 473,881 | 427,035 | 404,012 | 376,867 | 400,918 | 394,075 | 305,716 | 281,796 | 283,720 | 72,035 | 16,426 | 18,358 |
| ROE | -10.07% | 3.72% | -8.28% | -11.30% | 4.34% | -10.07% | -20.17% | -17.23% | -25.14% | -23.61% | -14.19% | -5.41% | -1.93% | -0.04% | -7.13% | -8.34% | -5.42% | -39.70% | -142.12% | -154.59% |
March 31, 2025 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $-190,422K ÷ $1,890,490K
= -10.07%
The analysis of CleanSpark Inc.'s return on equity (ROE) over the specified period reveals significant variability and a general trend towards improvement from highly negative levels toward marginal positive territory. Initially, the company's ROE was markedly negative, with values reaching as low as -154.59% on June 30, 2020, indicating substantial losses relative to shareholders' equity during that period.
Throughout 2020 and into 2021, there was a consistent trend toward narrowing losses, with the ROE improving to -39.70% by December 31, 2020, and further approaching near breakeven at -0.04% by the end of 2021. This progressive reduction in negative ROE signifies a significant turnaround in operational efficiency or profitability, possibly driven by strategic restructuring, cost management, or operational scaling.
Between 2022 and mid-2023, the ROE continued to fluctuate within negative territory, with the lowest point observed at -25.14% on March 31, 2023. Despite these oscillations, the trend remained upward, reflected in a positive turn to 4.34% on March 31, 2024, marking the first instance within this timeframe where ROE transitioned into positive territory, suggesting improved profitability and effective utilization of shareholders’ equity.
Subsequent periods exhibit some volatility, with the ROE moving back into negative values, including -11.30% in June 2024 and -8.28% in September 2024, before again re-entering positive territory at 3.72% on December 31, 2024. This cyclical pattern indicates ongoing challenges in sustaining consistent profitability but overall improvements relative to the start of the observation period.
In summary, CleanSpark Inc.’s ROE trajectory reflects a noteworthy recovery from severe losses to periods of profitability, with positive ROE recorded at the end of 2024. This pattern underscores a significant enhancement in the company's ability to generate returns on shareholders' equity, although some volatility persists, suggesting that further stability in profitability remains a key consideration for ongoing evaluation.
Peer comparison
Mar 31, 2025