Dril-Quip Inc (DRQ)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 604 | -1,624 | -127,996 | -30,768 | 1,720 |
| Total assets | US$ in thousands | 1,028,180 | 969,951 | 1,009,930 | 1,151,170 | 1,206,560 |
| ROA | 0.06% | -0.17% | -12.67% | -2.67% | 0.14% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $604K ÷ $1,028,180K
= 0.06%
The return on assets (ROA) for Dril-Quip, Inc. has varied over the past five years. In 2023, the ROA improved to 0.06% from 0.05% in 2022, indicating a slightly better efficiency in generating profits from its assets. However, it is noteworthy that in 2021, the ROA was significantly negative at -12.67%, signifying that the company was not effectively utilizing its assets to generate profits. In 2020, the ROA also remained negative at -2.67%, suggesting continued inefficiencies in asset utilization. The ROA then improved in 2019 to 0.14%, indicating a better performance in generating profits relative to the company's assets. Overall, Dril-Quip, Inc. has shown fluctuating ROA figures in recent years, indicating varying levels of asset efficiency and profitability.
Peer comparison
Dec 31, 2023