Murphy USA Inc (MUSA)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 826,000 | 968,400 | 604,000 | 559,000 | 268,500 |
| Total assets | US$ in thousands | 4,340,100 | 4,123,200 | 4,048,200 | 2,685,700 | 2,687,200 |
| Operating ROA | 19.03% | 23.49% | 14.92% | 20.81% | 9.99% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $826,000K ÷ $4,340,100K
= 19.03%
Operating ROA is a key financial metric that measures a company's ability to generate operating profits from its assets. For Murphy USA Inc, the operating ROA has fluctuated over the past five years, ranging from 9.98% in 2019 to 23.47% in 2022.
The gradual decline from 23.47% in 2022 to 19.05% in 2023 suggests a slight decrease in the company's efficiency in generating operating profits from its assets. However, it is still relatively higher than the 15.14% recorded in 2021 and the 20.83% in 2020.
Overall, Murphy USA Inc's operating ROA performance indicates a strong ability to generate profits relative to its asset base, although there was a recent dip in efficiency. Further analysis of the company's operational and strategic initiatives may be required to fully understand the factors influencing this trend.
Peer comparison
Dec 31, 2023