Magnolia Oil & Gas Corp (MGY)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	388,301	893,837	417,282	-1,208,390	50,196
Total assets	US$ in thousands	2,756,220	2,572,580	1,746,740	1,453,420	3,466,410
ROA		14.09%	34.74%	23.89%	-83.14%	1.45%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $388,301K ÷ $2,756,220K
= 14.09%

Magnolia Oil & Gas Corp's return on assets (ROA) has fluctuated significantly over the past five years. The ROA was positive and relatively stable in 2019, 2021, and 2022, with values of 1.45%, 23.89%, and 34.74%, respectively. This indicates that the company was able to generate profits relative to its total assets during those years.

However, there was a sharp decline in ROA to -83.14% in 2020, indicating that the company experienced a significant loss relative to its assets during that period. The most recent ROA in 2023 rebounded to 14.09%, but it is below the levels seen in 2021 and 2022.

Overall, it appears that Magnolia Oil & Gas Corp's performance in terms of generating profits from its assets has been mixed over the past five years, with some years showing strong profitability and others experiencing significant losses. Further analysis of the underlying financial and operational factors driving these fluctuations would be necessary to fully assess the company's performance.