Devon Energy Corporation (DVN)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 3,747,000 | 6,015,000 | 2,813,000 | -2,680,000 | -355,000 |
| Total assets | US$ in thousands | 24,490,000 | 23,721,000 | 21,025,000 | 9,912,000 | 13,717,000 |
| ROA | 15.30% | 25.36% | 13.38% | -27.04% | -2.59% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $3,747,000K ÷ $24,490,000K
= 15.30%
Devon Energy Corp.'s return on assets (ROA) has exhibited fluctuations over the past five years. In 2023, the company generated an ROA of 15.30%, representing a decrease from the previous year's 25.12%. This decline suggests a less efficient utilization of assets to generate profit. In 2021, the ROA was at 13.24%, indicating a moderate performance in asset utilization. The company faced a significant challenge in 2020 with a negative ROA of -27.08%, which implies that the company incurred losses relative to its assets during that period. However, there was a slight improvement in 2019 with an ROA of -2.60%.
It is important for stakeholders to closely monitor Devon Energy Corp.'s ROA to assess the company's efficiency in generating profits from its assets and to understand the trends impacting its overall financial performance.
Peer comparison
Dec 31, 2023