SkyWest Inc (SKYW)

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	34,342	-30,278	-5,384	33,148	72,953	124,389	85,701	93,744	111,910	79,909	103,887	16,178	10,266	163,240	220,917	334,684	392,877	389,074	380,781	368,588
Total assets	US$ in thousands	7,026,290	7,059,120	7,115,770	7,233,760	7,414,550	7,454,200	7,336,650	7,148,960	7,125,950	6,940,500	6,991,760	6,894,680	6,887,620	6,758,590	6,773,380	6,661,410	6,657,130	6,597,660	6,580,020	6,544,530
ROA		0.49%	-0.43%	-0.08%	0.46%	0.98%	1.67%	1.17%	1.31%	1.57%	1.15%	1.49%	0.23%	0.15%	2.42%	3.26%	5.02%	5.90%	5.90%	5.79%	5.63%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $34,342K ÷ $7,026,290K
= 0.49%

The return on assets (ROA) for Skywest Inc. has shown some variation over the past eight quarters. In Q4 2022, the ROA was relatively high at 1.31%, indicating an efficient use of assets to generate profits. However, this ratio declined in subsequent quarters, reaching a low of -0.43% in Q3 2023. This negative ROA suggests that the company's assets were not effectively utilized to generate profits during that period.

In Q4 2023, the ROA improved to 0.49%, indicating a partial recovery in asset efficiency. It is essential for the company to consistently monitor and improve its ROA to ensure that its assets are generating sufficient returns. Overall, the fluctuation in ROA over the quarters may indicate fluctuations in profitability relative to the company's asset base and efficiency in asset utilization.