Murphy USA Inc (MUSA)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 556,800 | 672,900 | 396,900 | 386,100 | 154,800 |
| Total assets | US$ in thousands | 4,340,100 | 4,123,200 | 4,048,200 | 2,685,700 | 2,687,200 |
| ROA | 12.83% | 16.32% | 9.80% | 14.38% | 5.76% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $556,800K ÷ $4,340,100K
= 12.83%
Based on the trend in Murphy USA Inc's return on assets (ROA) over the past five years, we observe fluctuations in the company's ability to generate profits from its total assets. The ROA decreased from 16.32% in 2022 to 12.83% in 2023, indicating a decline in the company's efficiency in utilizing its assets to generate earnings. Prior to this decrease, there was a significant increase in ROA from 9.80% in 2021 to 16.32% in 2022, suggesting improved asset utilization and profitability.
Comparing the latest ROA of 12.83% in 2023 to previous years, it is higher than the ROA of 9.80% in 2021 and 5.76% in 2019, indicating a favorable performance in generating profits relative to the total assets. However, the ROA of 12.83% in 2023 is lower than the peak of 16.32% in 2022 and 14.38% in 2020, suggesting a potential decline in the company's profitability in the most recent period.
Overall, Murphy USA Inc's ROA has shown variability over the past five years, with fluctuations reflecting changes in the company's ability to effectively utilize its assets to generate returns. Further analysis of the company's financial performance and operational efficiency may be needed to understand the underlying factors driving these fluctuations in ROA.
Peer comparison
Dec 31, 2023