Patterson-UTI Energy Inc (PTEN)
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 | 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 stockholders’ equity | US$ in thousands | 4,812,290 | 4,851,210 | 1,720,170 | 1,672,960 | 1,665,520 | 1,634,380 | 1,576,080 | 1,576,700 | 1,609,490 | 1,725,640 | 1,807,720 | 1,912,150 | 2,016,060 | 2,119,560 | 2,228,870 | 2,378,890 | 2,833,620 | 2,942,990 | 3,278,310 | 3,403,370 |
| ROE | 5.12% | 5.86% | 20.11% | 16.92% | 9.29% | -18.80% | -28.66% | -36.59% | -40.67% | -23.14% | -23.70% | -24.86% | -39.86% | -36.95% | -41.85% | -34.97% | -15.02% | -18.38% | -10.81% | -9.27% |
December 31, 2023 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $246,292K ÷ $4,812,290K
= 5.12%
Patterson-UTI Energy Inc's return on equity (ROE) has shown mixed performance over the past eight quarters. In Q2 2023 and Q1 2023, the company achieved relatively high ROE figures of 20.11% and 16.92% respectively, indicating strong profitability generated from shareholder equity during these periods. However, prior to these strong performances, the ROE was quite low and even negative in Q3 2022 and Q2 2022.
The significant improvement in ROE in Q2 and Q1 2023 compared to previous quarters suggests that Patterson-UTI Energy Inc has made operational and financial adjustments leading to better utilization of equity to generate profits. It is essential for the company to sustain this positive momentum in the coming quarters to strengthen its financial position and drive investor confidence. Analyzing the underlying factors contributing to the fluctuations in ROE will be crucial for understanding the company's financial health and performance over time.
Peer comparison
Dec 31, 2023