Patterson-UTI Energy Inc (PTEN)
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 | 351,954 | 357,054 | 423,695 | 355,875 | 211,031 | -266,578 | -432,932 | -579,104 | -677,750 | -441,144 | -465,701 | -515,375 | -892,258 | -850,823 | -1,043,562 | -932,603 | -461,576 | -589,603 | -362,579 | -323,458 |
| Total assets | US$ in thousands | 7,420,030 | 7,420,570 | 3,117,200 | 3,092,340 | 3,143,820 | 3,042,000 | 2,959,980 | 2,888,960 | 2,957,850 | 3,017,460 | 3,073,310 | 3,171,840 | 3,299,070 | 3,491,220 | 3,624,800 | 3,870,280 | 4,439,620 | 4,609,090 | 5,191,780 | 5,367,750 |
| Operating ROA | 4.74% | 4.81% | 13.59% | 11.51% | 6.71% | -8.76% | -14.63% | -20.05% | -22.91% | -14.62% | -15.15% | -16.25% | -27.05% | -24.37% | -28.79% | -24.10% | -10.40% | -12.79% | -6.98% | -6.03% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $351,954K ÷ $7,420,030K
= 4.74%
Patterson-UTI Energy Inc's operating return on assets (operating ROA) has fluctuated over the past eight quarters. In Q4 2023, the operating ROA was 5.85%, slightly higher than the previous quarter at 5.70%. However, in Q2 2023, the operating ROA experienced a significant increase to 13.54%, followed by a slight dip to 10.97% in Q1 2023.
Comparing to the same quarter the previous year, Patterson-UTI Energy Inc has shown an improvement in operating ROA. In Q4 2022, the operating ROA was 6.38%, indicating an upward trend from the negative values reported in the earlier quarters of 2022. The company faced challenges in Q3 and Q2 2022, with operating ROA figures of -8.57% and -14.43%, respectively. The lowest operating ROA was recorded in Q1 2022 at -19.59%.
Overall, the recent positive operating ROA figures suggest an improvement in the company's profitability and efficiency in utilizing its assets to generate revenue. However, it is essential to monitor future trends to assess the sustainability of this improvement.
Peer comparison
Dec 31, 2023