Murphy Oil Corporation (MUR)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	661,600	965,047	-73,664	-1,148,780	1,149,730
Total assets	US$ in thousands	9,766,700	10,309,000	10,304,900	10,620,900	11,718,500
ROA		6.77%	9.36%	-0.71%	-10.82%	9.81%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $661,600K ÷ $9,766,700K
= 6.77%

Murphy Oil Corp.'s return on assets (ROA) has fluctuated over the past five years. In 2023, the ROA stood at 6.77%, which is lower than the previous year's performance of 9.36%. However, it is still an improvement compared to 2021 when the company had a negative ROA of -0.71%. In 2020, the ROA further deteriorated to -10.82%, reflecting a challenging year for the company. The highest ROA of 9.81% was achieved in 2019, indicating a strong performance that year. Overall, the recent decline in ROA suggests a need for the company to enhance its efficiency in generating profits from its assets to improve financial performance.