CNX Resources Corp (CNX)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,720,720 | -142,077 | -498,643 | -483,775 | -80,730 |
| Total assets | US$ in thousands | 8,626,660 | 8,515,770 | 8,100,750 | 8,041,760 | 9,060,810 |
| ROA | 19.95% | -1.67% | -6.16% | -6.02% | -0.89% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,720,720K ÷ $8,626,660K
= 19.95%
The return on assets (ROA) for CNX Resources Corp has shown a significant improvement from -6.16% in 2021 and -6.02% in 2020 to 19.95% in 2023. This positive trend indicates that the company has been generating more profit relative to its total assets, reflecting efficient asset utilization and better financial performance. It is crucial to identify the factors contributing to this improvement in ROA to assess the company's operational effectiveness and profitability sustainability. However, it is essential to consider other financial metrics and industry benchmarks to gain a comprehensive understanding of CNX Resources Corp's overall financial health and performance.
Peer comparison
Dec 31, 2023