NOV Inc. (NOV)
Operating return on assets (Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 651,000 | 652,000 | 524,000 | 411,000 | 264,000 | 87,000 | -11,000 | -67,000 | -134,000 | -420,000 | -451,000 | -563,000 | -2,425,000 | -2,473,000 | -2,553,000 | -8,181,000 | -6,279,000 | -5,843,000 | -5,616,000 | 164,000 |
| Total assets | US$ in thousands | 11,294,000 | 10,498,000 | 10,446,000 | 10,177,000 | 10,135,000 | 9,761,000 | 9,700,000 | 9,553,000 | 9,550,000 | 9,567,000 | 9,601,000 | 9,672,000 | 9,929,000 | 10,168,000 | 10,447,000 | 10,690,000 | 13,149,000 | 14,005,000 | 14,349,000 | 20,002,000 |
| Operating ROA | 5.76% | 6.21% | 5.02% | 4.04% | 2.60% | 0.89% | -0.11% | -0.70% | -1.40% | -4.39% | -4.70% | -5.82% | -24.42% | -24.32% | -24.44% | -76.53% | -47.75% | -41.72% | -39.14% | 0.82% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $651,000K ÷ $11,294,000K
= 5.76%
NOV Inc's operating return on assets (ROA) has shown a positive trend over the past eight quarters. The ROA has steadily increased from 2.60% in Q4 2022 to 5.76% in Q4 2023. This indicates that NOV Inc has been able to generate more operating income relative to its assets over time.
The improvement in operating ROA suggests that NOV Inc's operational efficiency and profitability have been enhancing. It shows that the company is utilizing its assets effectively to generate operating profits. The positive trend in operating ROA is a good sign for investors, as it indicates that NOV Inc's business operations are becoming more efficient and profitable.
Overall, the consistent increase in NOV Inc's operating ROA reflects positive operating performance and efficient asset utilization by the company. This trend is likely to be viewed favorably by investors and stakeholders, as it shows the company's ability to generate higher returns from its assets.
Peer comparison
Dec 31, 2023