Liberty Oilfield Services Inc (LBRT)

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	556,317	616,803	615,148	567,633	399,602	191,144	5,301	-150,415	-179,244	-160,685	-156,297	-151,508	-115,583	-90,701	-45,201	22,602	39,003	70,137	93,232	120,795
Total assets	US$ in thousands	3,033,560	3,089,120	2,924,500	2,760,620	2,575,930	2,525,160	2,335,130	2,190,880	2,040,660	1,966,090	1,975,130	1,916,780	1,889,940	1,058,750	1,051,120	1,298,550	1,283,430	1,295,230	1,303,380	1,268,860
ROA		18.34%	19.97%	21.03%	20.56%	15.51%	7.57%	0.23%	-6.87%	-8.78%	-8.17%	-7.91%	-7.90%	-6.12%	-8.57%	-4.30%	1.74%	3.04%	5.42%	7.15%	9.52%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $556,317K ÷ $3,033,560K
= 18.34%

Based on the provided data for Liberty Energy Inc's return on assets (ROA) over the past eight quarters, there appears to be a consistent improvement in the company's ROA performance. The ROA has been trending upwards since Q1 2022, with a notable increase from negative values to positive territory.

In Q4 2023, the ROA stands at 18.34%, reflecting a healthy return generated from the company's assets. This uptrend is consistent with the improving financial performance of Liberty Energy Inc over the recent quarters.

The sharp increase in ROA from the negative values in Q1 2022 indicates that the company has managed to efficiently utilize its assets to generate profits. This positive trend in ROA suggests that Liberty Energy Inc's management is effectively utilizing its assets to generate earnings, indicating improved operational efficiency and profitability.

Overall, the increasing trend in ROA for Liberty Energy Inc demonstrates positive momentum and suggests that the company's asset management and operational efficiency have been improving over the past few quarters. This bodes well for the company's financial health and indicates a positive outlook for its future performance.