Pursuit Attractions and Hospitality, Inc. (PRSU)

Return on equity (ROE)

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	362,525	368,544	37,463	30,119	11,769	16,017	23,600	20,450	29,328	21,196	6,415	-16,639	-78,504	-92,655	-120,584	-166,409	-330,661	-374,094	-329,049	-266,875
Total stockholders’ equity	US$ in thousands	497,854	525,825	96,765	41,207	12,247	43,433	51,750	16,487	-4,248	14,530	7,759	-7,591	-18,169	6,282	25,608	18,751	56,502	95,955	134,848	153,772
ROE		72.82%	70.09%	38.72%	73.09%	96.10%	36.88%	45.60%	124.04%	—	145.88%	82.68%	—	—	-1,474.93%	-470.88%	-887.47%	-585.22%	-389.86%	-244.01%	-173.55%

March 31, 2025 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $362,525K ÷ $497,854K
= 72.82%

The return on equity (ROE) of Pursuit Attractions and Hospitality, Inc. exhibits a highly volatile trend over the analyzed period. During the latter half of 2020 through early 2021, the company experienced pronounced negative ROE figures, with values sharply declining from approximately -173.55% on June 30, 2020, to as low as -585.22% on March 31, 2021. This pattern indicates significant challenges in generating positive shareholder returns, possibly reflecting substantial net losses relative to equity during that time frame.

The negative trend persisted into late 2021, reaching an extremely low point of approximately -1,474.93% on December 31, 2021. Such extraordinarily negative figures suggest profound financial distress or considerable accounting losses, with the ROE indicating that losses far exceeded shareholders' equity.

Beginning in late 2022, the company’s ROE trend shifted markedly. By September 30, 2022, ROE demonstrated a positive reversal, reaching 82.68%. This turnaround reflects a period wherein the company began generating substantial net income relative to shareholders’ equity, transitioning from severe losses to profitability.

Throughout 2023, ROE stabilized at levels remaining well below historical highs but consistently positive, with values of 145.88% at the end of 2022, 124.04% on June 30, 2023, and gradually declining to 36.88% by December 31, 2023. This progression indicates that the company sustained profitability, albeit with fluctuations.

In the subsequent period, 2024, ROE continued to reflect positive profitability, with figures such as 70.09% on December 31, 2024, and 72.82% on March 31, 2025. These sustained positive ratios imply improved financial health and effective utilization of shareholder equity to generate earnings.

Overall, Pursuit Attractions and Hospitality, Inc.'s ROE trajectory demonstrates a history of extreme losses early in the period, followed by a significant recovery and stable profitability in recent periods. The data suggest a recovery phase after severe financial distress, with current profitability levels indicating a more favorable, though variable, return to shareholders.