Range Resources Corp (RRC)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	871,142	1,183,370	411,778	-711,777	-1,716,300
Total assets	US$ in thousands	7,203,880	6,625,560	6,660,510	6,136,940	6,612,400
ROA		12.09%	17.86%	6.18%	-11.60%	-25.96%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $871,142K ÷ $7,203,880K
= 12.09%

Range Resources Corp's return on assets (ROA) has shown significant fluctuations over the past five years. In 2023, the ROA stood at 11.88%, representing a decrease from the previous year's 17.43%. Despite this decline, the company's ROA remains positive, indicating that it generated $0.1188 in net income for every dollar of assets in 2023.

The ROA in 2022 was relatively high at 17.43%, reflecting a strong performance in utilizing its assets to generate profit. However, there was a notable decrease compared to the previous year.

In 2021, the ROA was 6.18%, showing a moderate return on assets. This marked an improvement from the negative ROA figures in 2020 and 2019, where the company experienced losses relative to its asset base.

The negative ROA values in 2020 (-11.60%) and 2019 (-25.96%) suggest that Range Resources Corp struggled to generate profits using its assets during those periods, possibly due to challenging industry conditions or internal issues.

Overall, Range Resources Corp's ROA has been volatile, with some years showing strong performance in asset utilization and profit generation, while others reflecting challenges in effectively leveraging its assets. Monitoring and analyzing ROA trends can provide valuable insights into the company's operational efficiency and financial health.