Par Pacific Holdings Inc (PARR)

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	680,006	605,507	692,805	820,401	437,903	360,855	174,477	-84,053	-7,619	-145,502	-240,545	-181,487	-317,998	-144,335	-128,680	-54,616	147,980	108,857	95,346	75,708
Total assets	US$ in thousands	3,863,950	3,888,750	3,609,970	3,327,430	3,280,650	3,107,100	3,245,340	2,920,440	2,570,250	2,521,000	2,524,380	2,502,470	2,133,860	2,272,410	2,224,800	2,140,920	2,700,560	2,652,880	2,672,410	2,648,100
Operating ROA		17.60%	15.57%	19.19%	24.66%	13.35%	11.61%	5.38%	-2.88%	-0.30%	-5.77%	-9.53%	-7.25%	-14.90%	-6.35%	-5.78%	-2.55%	5.48%	4.10%	3.57%	2.86%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $680,006K ÷ $3,863,950K
= 17.60%

Par Pacific Holdings Inc's operating return on assets (operating ROA) has shown varying trends over the past eight quarters. The operating ROA has generally been positive throughout the period, indicating that the company has been generating operating profits relative to its assets.

In Q1 2022, the operating ROA was at its lowest point, reaching -2.82%, indicating a significant decline in operating profitability compared to the previous quarter. However, the company managed to reverse this trend in subsequent quarters, showing improvements in operating efficiency.

The operating ROA saw a substantial increase in Q2 2023, reaching 19.77%, and peaked in Q1 2023 at 25.00%, showcasing a strong operational performance during those periods. These results suggest that the company effectively utilized its assets to generate operating income during these quarters.

Overall, Par Pacific Holdings Inc's operating ROA has displayed volatility but generally positive performance over the past eight quarters, signaling the company's ability to efficiently utilize its assets to generate operating profits. It is essential for the company to sustain this positive trend to ensure long-term profitability and financial stability.