Cactus Inc (WHD)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 169,171 | 110,174 | 49,593 | 34,446 | 85,612 |
| Total assets | US$ in thousands | 1,522,560 | 1,118,900 | 982,078 | 815,594 | 834,964 |
| ROA | 11.11% | 9.85% | 5.05% | 4.22% | 10.25% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $169,171K ÷ $1,522,560K
= 11.11%
Based on the data provided, Cactus Inc's return on assets (ROA) has varied over the past five years. The ROA for the company was 11.11% at the end of 2023, which was higher compared to the previous year's ROA of 9.85%. This indicates an improvement in the company's ability to generate profit relative to its total assets.
In 2021, Cactus Inc's ROA was 5.05%, reflecting a lower performance compared to 2022. However, there was a significant improvement from the ROA of 4.22% in 2020. The highest ROA over the five-year period was observed in 2019 at 10.25%.
Overall, the trend in Cactus Inc's ROA shows some fluctuations, but the recent increase in 2023 suggests that the company has been more efficient in utilizing its assets to generate profit. It would be important to further investigate the company's financial and operational performance to understand the factors influencing these fluctuations in ROA.
Peer comparison
Dec 31, 2023