Hess Corporation (HES)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,382,000 | 2,096,000 | 559,000 | -3,093,000 | -408,000 |
| Total assets | US$ in thousands | 24,007,000 | 21,695,000 | 20,515,000 | 18,821,000 | 21,782,000 |
| ROA | 5.76% | 9.66% | 2.72% | -16.43% | -1.87% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,382,000K ÷ $24,007,000K
= 5.76%
Hess Corporation's return on assets (ROA) has fluctuated significantly over the past five years. In 2023, the ROA was 5.76%, indicating that the company generated a return of 5.76% on its total assets during that period. This represents a decrease from the previous year when the ROA was 9.66%.
The ROA in 2021 was 2.72%, reflecting a slight improvement from the negative ROA of -16.43% in 2020. The negative ROA in 2020 suggests that the company's assets were not effectively utilized to generate profits during that year.
In 2019, the ROA was also negative at -1.89%, indicating a similar inefficiency in asset utilization. Overall, the trend in ROA for Hess Corporation shows fluctuations, with periods of both positive and negative returns on assets. Further analysis of the company's financial performance and asset management strategies may be needed to assess the reasons behind these fluctuations.
Peer comparison
Dec 31, 2023