Murphy USA Inc (MUSA)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	828,900	640,700	807,200	784,100	803,000
ROE		67.17%	105.03%	49.17%	49.24%	19.28%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $556,800K ÷ $828,900K
= 67.17%

Murphy USA Inc's Return on Equity (ROE) has exhibited varying trends over the past five years. In 2023, the ROE stood at 67.17%, showing a decrease from the previous year's ROE of 105.03%. Despite the decrease, the company's ROE remains relatively high compared to earlier years. The ROE in 2021 was 49.17%, which was not far from the 2020 ROE of 49.24%. The significant increase in ROE from 2019 to 2020 indicates improved efficiency in generating profits from shareholders' equity. Overall, Murphy USA Inc's ROE has shown volatility over the years, with fluctuations in profitability relative to shareholders' equity. Further analysis into the company's financial performance and operational efficiency would provide deeper insights into the factors driving these ROE fluctuations.