NOV Inc. (NOV)
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 | 993,000 | 499,000 | 417,000 | 331,000 | 155,000 | 11,000 | -90,000 | -185,000 | -250,000 | -557,000 | -543,000 | -610,000 | -2,542,000 | -2,580,000 | -2,769,000 | -8,065,000 | -6,095,000 | -5,698,000 | -5,453,000 | -40,000 |
| 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 |
| ROA | 8.79% | 4.75% | 3.99% | 3.25% | 1.53% | 0.11% | -0.93% | -1.94% | -2.62% | -5.82% | -5.66% | -6.31% | -25.60% | -25.37% | -26.51% | -75.44% | -46.35% | -40.69% | -38.00% | -0.20% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $993,000K ÷ $11,294,000K
= 8.79%
NOV Inc's return on assets (ROA) has shown a positive trend over the past eight quarters, indicating an improving utilization of assets to generate profits. The ROA has experienced significant growth from -1.94% in Q1 2022 to 8.79% in Q4 2023. This demonstrates that the company has been able to enhance its efficiency in generating earnings from its total assets. The consistent upward trend in ROA suggests that NOV Inc has been successful in managing its assets effectively to generate returns for its shareholders. It is important to note that ROA is a key indicator of a company's profitability and efficiency in utilizing its assets, and NOV Inc's increasing ROA reflects positive financial performance.
Peer comparison
Dec 31, 2023