CNX Resources Corp (CNX)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	2,025,250	-275,849	-688,018	-1,181,410	-379,128
Total assets	US$ in thousands	8,626,660	8,515,770	8,100,750	8,041,760	9,060,810
Operating ROA		23.48%	-3.24%	-8.49%	-14.69%	-4.18%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $2,025,250K ÷ $8,626,660K
= 23.48%

Operating ROA measures the efficiency of CNX Resources Corp in generating operating income from its assets. In 2023, the company's operating ROA stood at 26.00%, which was lower than the previous year's figure of 30.57%. This decline indicates a slight decrease in the company's ability to generate operating income from its assets compared to the prior year.

However, when comparing the operating ROA in 2023 to the figures from 2021, 2020, and 2019, it is evident that CNX Resources Corp has significantly improved its performance. In 2023, the operating return on assets of 26.00% was notably higher than the 14.25% in 2021, which represents a substantial increase.

Furthermore, the company has made significant progress compared to the negative operating ROA of -0.97% in 2020 and the 2.83% in 2019. This improvement indicates that CNX Resources Corp has enhanced its operational efficiency and is now generating more operating income from its assets.

Overall, CNX Resources Corp has shown a positive trend in its operating ROA over the years, with a notable improvement in 2023 compared to the previous two-year period, showcasing the company's ability to efficiently utilize its assets to generate operational income.