Dril-Quip Inc (DRQ)
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 | 604 | 422 | 20,745 | 11,692 | 443 | -64,647 | -89,079 | -102,576 | -127,996 | -75,822 | -50,353 | -45,428 | -30,768 | -12,114 | -27,750 | -11,927 | 1,720 | -80,592 | -89,640 | -94,363 |
| Total assets | US$ in thousands | 1,028,180 | 1,007,570 | 979,666 | 975,396 | 969,951 | 968,603 | 973,566 | 978,110 | 1,009,930 | 1,093,740 | 1,124,710 | 1,126,830 | 1,151,170 | 1,159,540 | 1,147,690 | 1,136,110 | 1,206,560 | 1,205,640 | 1,201,900 | 1,183,730 |
| ROA | 0.06% | 0.04% | 2.12% | 1.20% | 0.05% | -6.67% | -9.15% | -10.49% | -12.67% | -6.93% | -4.48% | -4.03% | -2.67% | -1.04% | -2.42% | -1.05% | 0.14% | -6.68% | -7.46% | -7.97% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $604K ÷ $1,028,180K
= 0.06%
Dril-Quip, Inc.'s return on assets (ROA) has fluctuated over the past eight quarters. In Q4 2023, the ROA was 0.06%, showing a slight improvement from the previous quarter's negative ROA of -0.15%. Prior to that, in Q2 2023 and Q1 2023, the ROA was 2.12% and 1.20% respectively, indicating a strong performance in utilizing its assets to generate profits.
Comparing the most recent ROA to the same quarter in the previous year, there has been significant progress, given that in Q4 2022, the ROA was only 0.05%. Furthermore, Q3 2022, Q2 2022, and Q1 2022 had notably negative ROAs of -6.46%, -9.15%, and -10.49% respectively.
Overall, the recent positive ROA trends suggest that Dril-Quip, Inc. has been more effective in generating profits relative to its assets compared to the previous year. However, sustained positive ROA figures over consecutive quarters would further signify the company's ability to efficiently utilize its assets for profitability.
Peer comparison
Dec 31, 2023