Devon Energy Corporation (DVN)

Operating return on assets (Operating 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
Operating income (ttm)	US$ in thousands	14,375,000	14,585,000	16,183,000	18,339,000	18,365,000	18,288,000	16,300,000	13,125,000	10,690,000	7,662,000	5,153,000	3,090,000	-2,248,000	-1,638,000	-1,509,000	-783,000	3,695,000	6,082,000	7,430,000	6,668,000
Total assets	US$ in thousands	24,490,000	24,241,000	23,355,000	23,420,000	23,721,000	23,557,000	23,194,000	21,778,000	21,025,000	21,057,000	20,065,000	20,457,000	9,912,000	10,326,000	10,357,000	11,144,000	13,717,000	14,394,000	16,649,000	18,077,000
Operating ROA		58.70%	60.17%	69.29%	78.30%	77.42%	77.63%	70.28%	60.27%	50.84%	36.39%	25.68%	15.10%	-22.68%	-15.86%	-14.57%	-7.03%	26.94%	42.25%	44.63%	36.89%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $14,375,000K ÷ $24,490,000K
= 58.70%

Operating return on assets (operating ROA) measures a company's ability to generate operating profits from its assets. Devon Energy Corp.'s operating ROA has exhibited fluctuation over the past eight quarters. The Q1 2023 and Q4 2022 periods yielded the highest operating ROA figures at 33.89% and 33.39%, respectively. These quarters were followed by Q2 2023 with an operating ROA of 26.99%. Meanwhile, the lowest operating ROA was recorded in Q1 2022 at 19.98%. Overall, Devon Energy Corp. has generally maintained healthy operating ROA levels, indicating efficient utilization of its assets to generate operating profits.