Murphy USA Inc (MUSA)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	828,900	844,100	750,800	716,800	640,700	766,000	762,700	791,500	807,200	824,800	757,900	780,600	784,100	895,700	918,000	746,800	803,000	779,000	816,300	797,800
ROE		67.17%	62.14%	76.76%	87.44%	105.03%	86.68%	71.92%	62.41%	49.17%	42.33%	41.17%	45.11%	49.24%	41.61%	40.85%	31.98%	19.28%	23.71%	19.66%	22.51%

December 31, 2023 calculation

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

Murphy USA Inc's return on equity (ROE) has exhibited fluctuations over the past eight quarters, ranging from a low of 62.14% in Q3 2023 to a high of 105.03% in Q4 2022. The trend indicates that the company's ROE has been generally decreasing since Q4 2022, although it experienced a temporary increase in Q2 2023.

Overall, the average ROE for Murphy USA Inc over this period is relatively high, indicating that the company has been effectively utilizing shareholder equity to generate profits. However, the recent decline in ROE suggests that the company may be facing challenges in maintaining or improving its profitability efficiency.

It is essential for investors and stakeholders to monitor Murphy USA Inc's ROE closely to assess the company's ability to generate returns on shareholders' investments and evaluate its financial performance and efficiency over time. Further analysis of the company's financial statements and business operations may be necessary to understand the factors contributing to the fluctuating ROE trend.