ProPetro Holding Corp (PUMP)

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	130,343	156,920	125,890	33,141	-2,588	-43,285	-62,832	-34,313	-68,695	-102,331	-132,889	-152,464	-131,242	-44,897	40,116	120,145	221,361	242,833	255,722	260,571
Total assets	US$ in thousands	1,480,310	1,472,220	1,433,380	1,394,150	1,335,790	1,143,610	1,335,790	1,084,450	1,061,240	1,098,750	1,066,790	1,044,780	1,050,740	1,050,740	1,050,740	1,050,740	1,436,110	1,436,110	1,436,110	1,409,000
Operating ROA		8.81%	10.66%	8.78%	2.38%	-0.19%	-3.78%	-4.70%	-3.16%	-6.47%	-9.31%	-12.46%	-14.59%	-12.49%	-4.27%	3.82%	11.43%	15.41%	16.91%	17.81%	18.49%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $130,343K ÷ $1,480,310K
= 8.81%

The operating return on assets (ROA) for ProPetro Holding Corp has varied significantly over the past years. From December 2019 to December 2023, the operating ROA ranged from a high of 18.49% to a low of -14.59%. The trend shows a general decline in operating ROA from 2019 to early 2021, with negative operating ROA figures during this period.

However, there was a significant turnaround from mid-2021 to 2023, with operating ROA turning positive again and gradually increasing. The latest operating ROA figure of 8.81% at the end of December 2023 shows an improvement in profitability compared to previous periods.

Overall, the company's operating ROA has shown volatility and fluctuations over the past few years, indicating changes in operational efficiency and profitability levels. Investors and stakeholders may want to monitor future trends in operating ROA to assess the company's ability to generate profits from its assets.