PNM Resources Inc (PNM)

Return on equity (ROE)

		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	88,345	154,317	239,024	209,081	170,058	165,533	156,421	194,769	196,357	193,783	202,098	205,746	172,775	195,802	176,805	43,402	77,362	-9,520	-24,770	89,352
Total stockholders’ equity	US$ in thousands	2,349,090	2,235,210	2,262,240	2,212,190	2,191,930	2,201,880	2,131,520	2,115,530	2,167,520	2,144,950	2,088,230	2,030,970	2,049,460	1,773,320	1,696,500	1,627,220	1,678,700	1,670,910	1,612,150	1,684,680
ROE		3.76%	6.90%	10.57%	9.45%	7.76%	7.52%	7.34%	9.21%	9.06%	9.03%	9.68%	10.13%	8.43%	11.04%	10.42%	2.67%	4.61%	-0.57%	-1.54%	5.30%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $88,345K ÷ $2,349,090K
= 3.76%

To assess PNM Resources Inc's return on equity (ROE) performance, it is essential to analyze the trend in ROE over the past eight quarters. From the data provided, we observe fluctuations in ROE figures.

In Q4 2023, the ROE stood at 3.72%, which decreased from the previous quarter's 6.84%. This decrease suggests a decline in the company's ability to generate profit relative to its shareholders' equity. However, it is important to note that ROE figures can fluctuate due to various factors such as changes in revenue, expenses, or financial leverage.

Looking at the trend over the past eight quarters, PNM Resources Inc's ROE has shown some variability, ranging from a low of 3.72% in Q4 2023 to a high of 10.49% in Q2 2023. The company's ROE appears to have peaked in Q2 2023 before declining in subsequent quarters.

Overall, the analysis suggests that PNM Resources Inc has experienced fluctuations in its return on equity performance over the past two years. Further examination of the company's financial statements and related factors would be necessary to understand the drivers behind these fluctuations and assess the company's overall profitability and efficiency in generating returns for its shareholders.