Patterson-UTI Energy Inc (PTEN)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 246,292 | 154,658 | -654,545 | -803,692 | -425,703 |
| Total stockholders’ equity | US$ in thousands | 4,812,290 | 1,665,520 | 1,609,490 | 2,016,060 | 2,833,620 |
| ROE | 5.12% | 9.29% | -40.67% | -39.86% | -15.02% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $246,292K ÷ $4,812,290K
= 5.12%
Patterson-UTI Energy Inc's return on equity (ROE) has varied significantly in recent years. In 2023, the ROE stands at 5.12%, reflecting a decrease from the previous year's 9.29%. The positive ROE indicates that the company generated a profit on shareholders' equity, although at a lower rate compared to the prior year.
The ROE was notably negative in 2021 and 2020, at -40.67% and -39.86%, respectively. This suggests that the company experienced losses relative to shareholders' equity during these years, which could be attributed to various factors such as financial challenges, operational inefficiencies, or economic conditions.
In 2019, the ROE was also negative at -15.02%, indicating a similar trend of underperformance in generating returns on equity. Overall, the fluctuating ROE values highlight the company's varying financial performance and the importance of monitoring profitability and efficiency in utilizing shareholders' equity for generating returns.
Peer comparison
Dec 31, 2023