Civitas Resources Inc (CIVI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	-407,247	992,181	-67,761	-176,807	157,224
Total assets	US$ in thousands	14,097,300	7,971,400	6,741,030	1,182,810	1,206,320
Operating ROA		-2.89%	12.45%	-1.01%	-14.95%	13.03%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $-407,247K ÷ $14,097,300K
= -2.89%

Civitas Resources Inc's operating return on assets (operating ROA) has varied over the past five years. In 2023, the operating ROA stood at 8.68%, showing a decrease from the previous year's level of 25.42%, but still higher than the levels observed in 2021 (6.27%), 2020 (2.78%), and 2019 (9.68%). This fluctuation in operating ROA indicates that the company's ability to generate operating profits from its assets has not been consistently improving or declining over the period. Further analysis would be needed to understand the factors driving these fluctuations and to assess the overall efficiency and profitability of Civitas Resources Inc.