What is the most profitable PoW?

When delving into the question of which Proof of Work (PoW) algorithm is the most profitable, we must first understand that profitability is determined by a variety of factors, including mining difficulty, block reward, transaction fees, and the cost of mining hardware and electricity. Traditionally, Bitcoin's SHA-256 PoW has been considered highly profitable due to its large block rewards and established mining ecosystem. However, with the rise of alternative cryptocurrencies utilizing different PoW algorithms, such as Ethereum's Ethash and Litecoin's Scrypt, miners have had more options to explore. The profitability of a PoW ultimately depends on the current market conditions and the individual miner's specific setup and costs. Given these variables, what factors would you consider most significant in determining the most profitable PoW algorithm at any given time?