ConocoPhillips (COP)

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	10,957,000	11,199,000	12,928,000	15,841,000	18,680,000	18,058,000	15,910,000	12,856,000	8,079,000	4,680,000	1,851,000	20,000	-2,701,000	-1,209,000	2,297,000	3,617,000	7,189,000	8,337,000	7,142,000	6,450,000
Total assets	US$ in thousands	95,924,000	93,651,000	89,605,000	91,441,000	93,829,000	94,837,000	93,693,000	93,308,000	90,661,000	87,304,000	85,403,000	83,693,000	62,618,000	63,157,000	63,046,000	65,033,000	70,514,000	70,340,000	71,261,000	71,498,000
ROA		11.42%	11.96%	14.43%	17.32%	19.91%	19.04%	16.98%	13.78%	8.91%	5.36%	2.17%	0.02%	-4.31%	-1.91%	3.64%	5.56%	10.20%	11.85%	10.02%	9.02%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $10,957,000K ÷ $95,924,000K
= 11.42%

Conoco Phillips' return on assets (ROA) has shown a declining trend over the last eight quarters. The ROA dropped from 19.91% in Q4 2022 to 11.39% in Q4 2023. This downward trajectory indicates a decrease in the company's ability to generate earnings from its assets. The ROA peaked at 17.32% in Q1 2023 before dropping to 11.39% in the latest quarter. Overall, the company's performance in utilizing its assets to generate profits has been fluctuating, with a general downward trend in recent periods.