The latest data point for NET's operating ROA metrics in Q4'25 shows ROE at -0.83%, ROA at -0.20%, and ROIC at -0.18%, indicating persistent but narrowing negative returns on assets and equity, with ROIC remaining the closest to breakeven among the three indicators. Over the period from Q1'23 to Q4'25, all metrics exhibit a volatile yet improving trend from deeper losses—such as ROE's low of -14.72% in Q2'23 and ROA's -3.73% in the same quarter—to significantly reduced negatives by late 2025, with ROIC achieving a brief positive turn of 0.03% in Q3'25 before reverting slightly. Key patterns include sharp declines in mid-2023 followed by steady recovery through 2024, driven by operational efficiencies, though intermittent dips in Q1'25 and Q2'25 highlight ongoing challenges in asset utilization; overall, the lines suggest gradual stabilization toward less negative territory.