Murphy USA Inc (MUSA)
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 | 826,000 | 782,300 | 846,900 | 910,500 | 968,400 | 955,800 | 802,200 | 730,100 | 604,000 | 535,500 | 477,500 | 522,800 | 559,000 | 540,100 | 560,500 | 380,700 | 268,500 | 308,000 | 257,300 | 283,700 |
| Total assets | US$ in thousands | 4,340,100 | 4,305,300 | 4,204,800 | 4,119,200 | 4,123,200 | 4,135,100 | 4,217,800 | 4,206,200 | 4,048,200 | 4,094,300 | 3,986,100 | 3,980,600 | 2,685,700 | 2,788,200 | 2,860,700 | 2,583,400 | 2,687,200 | 2,616,700 | 2,571,300 | 2,504,400 |
| Operating ROA | 19.03% | 18.17% | 20.14% | 22.10% | 23.49% | 23.11% | 19.02% | 17.36% | 14.92% | 13.08% | 11.98% | 13.13% | 20.81% | 19.37% | 19.59% | 14.74% | 9.99% | 11.77% | 10.01% | 11.33% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $826,000K ÷ $4,340,100K
= 19.03%
Operating Return on Assets (Operating ROA) indicates the efficiency of Murphy USA Inc in generating profits from its operational assets. The trend analysis of the data shows a general decrease in Operating ROA from Q4 2022 (23.47%) to Q1 2023 (22.09%) and further down to Q4 2023 (19.05%). Despite this decline, the company's performance remained relatively strong, with Operating ROA consistently above 15% throughout the observed periods.
The highest Operating ROA was recorded in Q4 2022 at 23.47%, suggesting that the company was very efficient in generating profits from its assets during that quarter. However, there was a gradual decline in performance in subsequent quarters, indicating potential challenges in maintaining or improving operational efficiency.
Murphy USA Inc should closely monitor its Operating ROA and consider implementing strategies to enhance asset utilization and profitability. This could involve improving operating efficiency, reducing costs, or optimizing the use of assets to drive higher returns in the future.
Peer comparison
Dec 31, 2023