Marathon Petroleum Corp (MPC)

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	14,514,000	16,858,000	18,791,000	23,814,000	21,469,000	18,508,000	13,162,000	5,799,000	4,300,000	2,912,000	515,000	125,000	-12,247,000	-12,079,000	-9,342,000	-8,219,000	4,462,000	5,921,000	5,644,000	5,657,000
Total assets	US$ in thousands	85,987,000	89,969,000	86,442,000	87,037,000	89,904,000	89,694,000	96,737,000	90,952,000	85,373,000	89,300,000	94,300,000	86,651,000	85,158,000	84,020,000	84,593,000	86,317,000	98,556,000	98,139,000	96,896,000	96,436,000
Operating ROA		16.88%	18.74%	21.74%	27.36%	23.88%	20.63%	13.61%	6.38%	5.04%	3.26%	0.55%	0.14%	-14.38%	-14.38%	-11.04%	-9.52%	4.53%	6.03%	5.82%	5.87%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $14,514,000K ÷ $85,987,000K
= 16.88%

Marathon Petroleum Corp's operating return on assets (operating ROA) has fluctuated over the past eight quarters, ranging from a low of 5.82% in Q1 2022 to a high of 25.38% in Q1 2023. The company's performance improved significantly in Q1 2023 compared to the previous quarters, indicating efficiency in generating operating income relative to its total assets. However, the operating ROA experienced a slight decline in subsequent quarters, with Q4 2023 reporting a lower rate of 15.76%.

The trend in operating ROA suggests that Marathon Petroleum Corp may have experienced variations in operating efficiency and asset utilization during the period under review. A higher operating ROA generally indicates better operational performance and profitability. It is essential for the company to monitor and analyze the factors influencing these fluctuations to maintain and improve its financial performance in the future.