Murphy USA Inc (MUSA)

Return on assets (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
Net income (ttm)	US$ in thousands	556,800	524,500	576,300	626,800	672,900	664,000	548,500	494,000	396,900	349,100	312,000	352,100	386,100	372,700	375,000	238,800	154,800	184,700	160,500	179,600
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
ROA		12.83%	12.18%	13.71%	15.22%	16.32%	16.06%	13.00%	11.74%	9.80%	8.53%	7.83%	8.85%	14.38%	13.37%	13.11%	9.24%	5.76%	7.06%	6.24%	7.17%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $556,800K ÷ $4,340,100K
= 12.83%

Murphy USA Inc's return on assets (ROA) has experienced fluctuations over the past eight quarters. In Q4 2022, the ROA was 16.32%, indicating that the company generated $0.1632 in profit for every dollar of assets. Subsequently, the ROA declined in the following quarters but remained relatively strong, with values above 11%.

The ROA peaked in Q1 2023 at 15.22% before decreasing to 12.83% in Q4 2023. Despite the fluctuations, Murphy USA Inc has consistently demonstrated an ability to efficiently generate profits from its assets. Overall, the company's ROA performance suggests effective asset utilization, although there may be opportunities to further optimize asset efficiency to enhance profitability.