Patterson-UTI Energy Inc (PTEN)
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 | 246,292 | 284,439 | 345,841 | 283,113 | 154,658 | -307,264 | -451,714 | -576,909 | -654,545 | -399,247 | -428,360 | -475,383 | -803,692 | -783,088 | -932,696 | -831,811 | -425,703 | -541,029 | -354,352 | -315,618 |
| 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 |
| ROA | 3.32% | 3.83% | 11.09% | 9.16% | 4.92% | -10.10% | -15.26% | -19.97% | -22.13% | -13.23% | -13.94% | -14.99% | -24.36% | -22.43% | -25.73% | -21.49% | -9.59% | -11.74% | -6.83% | -5.88% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $246,292K ÷ $7,420,030K
= 3.32%
Patterson-UTI Energy Inc's return on assets (ROA) has fluctuated over the past eight quarters. In Q4 2023, the ROA was 3.32%, a slight decrease from the previous quarter at 3.83%. However, it is notable that the ROA is significantly higher than the figures reported in Q4 2022 (4.92%), Q3 2022 (-10.10%), Q2 2022 (-15.26%), and Q1 2022 (-19.97%).
The positive trend in ROA from Q1 2023 to Q3 2023, peaking at 11.09%, suggests improved efficiency in generating profits from its assets. The subsequent decrease in Q4 2023 may warrant further investigation into potential factors impacting profitability.
Overall, Patterson-UTI Energy Inc has shown variability in its ROA performance, with recent quarters demonstrating positive movements. Monitoring and analyzing the drivers behind these fluctuations will be crucial in assessing the company's operational and financial health.
Peer comparison
Dec 31, 2023