CNX Resources Corp (CNX)

Return on assets (ROA)

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	1,720,716	2,381,311	1,932,858	1,491,260	-142,076	-686,343	-1,132,192	-1,519,608	-498,642	-933,197	-264,974	-56,664	-483,775	-950,941	-630,705	-322,479	-80,730	292,605	302,096	181,633
Total assets	US$ in thousands	8,626,660	8,492,640	8,531,860	8,340,140	8,515,770	8,633,130	8,695,890	8,223,520	8,100,750	8,228,150	8,072,110	8,069,240	8,041,760	8,129,170	8,319,680	8,528,950	9,060,810	9,286,260	9,146,700	8,777,360
ROA		19.95%	28.04%	22.65%	17.88%	-1.67%	-7.95%	-13.02%	-18.48%	-6.16%	-11.34%	-3.28%	-0.70%	-6.02%	-11.70%	-7.58%	-3.78%	-0.89%	3.15%	3.30%	2.07%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $1,720,716K ÷ $8,626,660K
= 19.95%

The return on assets (ROA) for CNX Resources Corp has shown a positive trend over the past eight quarters. The company's ROA has consistently improved from negative figures in Q4 2022 to positive figures in Q1-Q4 2023, indicating enhanced efficiency in generating profits relative to its assets.

The ROA increased from -1.67% in Q4 2022 to 19.95% in Q4 2023, demonstrating a significant turnaround. This improvement continued in Q1 2023 with an ROA of 17.88%, reaching a peak of 28.04% in Q3 2023. While there was a slight decrease to 22.65% in Q2 2023, the overall trend remains positive.

The positive ROA figures suggest that CNX Resources Corp has been effectively utilizing its assets to generate profits, reflecting improved operational efficiency and potentially enhanced management of resources. The company's ability to sustain and improve its ROA over the quarters indicates a positive trajectory in creating value for its shareholders and stakeholders.