California Resources Corp (CRC)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 564,000 | 524,000 | 612,000 | -28,000 | 328,000 |
| Total assets | US$ in thousands | 3,998,000 | 3,967,000 | 3,846,000 | 6,958,000 | 7,158,000 |
| ROA | 14.11% | 13.21% | 15.91% | -0.40% | 4.58% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $564,000K ÷ $3,998,000K
= 14.11%
California Resources Corporation's return on assets (ROA) has shown a fluctuating trend over the past three years. In 2021, the ROA was at its highest point at 15.91%, indicating that for every dollar of assets, the company generated 15.91 cents in net income. However, the ROA decreased slightly to 13.21% in 2022 before rebounding to 14.11% in 2023.
Although the ROA improved in 2023 compared to the previous year, it is still below the peak level observed in 2021. This suggests that the company may have experienced challenges in efficiently utilizing its assets to generate profits in 2022, but made some improvements in 2023. Further analysis of the company's asset management and profitability ratios could provide more insight into the factors driving these changes in ROA over the three-year period.
Peer comparison
Dec 31, 2023