ProPetro Holding Corp (PUMP)

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	85,634	115,785	91,064	18,947	2,031	-31,243	-46,342	-21,993	-54,185	-78,065	-102,182	-119,591	-107,020	-40,233	23,348	85,401	163,010	192,113	204,001	206,959
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
ROA		5.78%	7.86%	6.35%	1.36%	0.15%	-2.73%	-3.47%	-2.03%	-5.11%	-7.10%	-9.58%	-11.45%	-10.19%	-3.83%	2.22%	8.13%	11.35%	13.38%	14.21%	14.69%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $85,634K ÷ $1,480,310K
= 5.78%

ProPetro Holding Corp's return on assets (ROA) has shown fluctuations over the past few quarters. The ROA was positive throughout 2019 and 2020, reaching a peak of 14.69% in December 2019. However, starting from the first quarter of 2021, the ROA turned negative and continued to decline until reaching a low of -11.45% in December 2021. Subsequently, there was a slight improvement in ROA, reaching 7.86% in September 2023, before declining again to 5.78% in December 2023.

Overall, ProPetro Holding Corp's ROA has been volatile, indicating fluctuations in the company's profitability relative to its total assets. It may be important for stakeholders to monitor this metric closely to assess the company's efficiency in generating profits from its assets.