Devon Energy Corporation (DVN)

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	3,747,000	3,796,000	4,779,000	6,021,000	6,015,000	6,320,000	5,265,000	3,589,000	2,813,000	1,205,000	275,000	-651,000	-2,680,000	-3,220,000	-3,019,000	-1,854,000	-355,000	1,436,000	3,864,000	2,944,000
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
ROA		15.30%	15.66%	20.46%	25.71%	25.36%	26.83%	22.70%	16.48%	13.38%	5.72%	1.37%	-3.18%	-27.04%	-31.18%	-29.15%	-16.64%	-2.59%	9.98%	23.21%	16.29%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $3,747,000K ÷ $24,490,000K
= 15.30%

Devon Energy Corp.'s return on assets (ROA) has displayed some fluctuations over the past eight quarters. The ROA has ranged from a low of 15.30% in Q4 2023 to a high of 26.54% in Q3 2022. The overall trend shows a general decrease in ROA from Q3 2022 to Q4 2023.

The company was most profitable in Q2 2023 with an ROA of 20.31% and Q1 2023 with an ROA of 25.50%. The ROA in those quarters indicates that Devon Energy Corp. was able to generate more profit relative to its total assets during those periods.

Despite the fluctuations in ROA, the company has managed to maintain relatively high returns on its assets, which suggests efficient asset utilization and profitability. It is important for stakeholders to monitor the company's ROA trends over time to assess its operational efficiency and financial health.