National Fuel Gas Company (NFG)

Operating return on assets (Operating ROA)

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Operating income	US$ in thousands	209,724	755,147	814,516	639,924	29,858
Total assets	US$ in thousands	8,319,770	8,280,260	7,896,260	7,464,820	6,964,940
Operating ROA		2.52%	9.12%	10.32%	8.57%	0.43%

September 30, 2024 calculation

Operating ROA = Operating income ÷ Total assets
= $209,724K ÷ $8,319,770K
= 2.52%

Operating Return on Assets (Operating ROA) is a key financial ratio that assesses a company's operating efficiency in generating profit from its assets. National Fuel Gas Company's Operating ROA has fluctuated over the past five years, as indicated by the data provided.

In 2024, National Fuel Gas Company's Operating ROA stands at 2.52%, showing a decline from the previous year's level of 9.12%. This decrease may indicate a decrease in the company's ability to generate earnings from its operational assets.

Comparing the Operating ROA for 2024 to that of 2022 and 2023, where the metrics were 10.32% and 8.57% respectively, the current figure appears relatively lower, suggesting a potential drop in operational efficiency during the period.

It is worth noting that the Operating ROA for 2020 was substantially lower at 0.43%, indicating a significant improvement in performance over the subsequent years leading up to 2024. This improvement highlights an enhanced ability to generate profit from operational activities and assets.

In conclusion, the Operating ROA of National Fuel Gas Company has shown variation over the past five years, with the 2024 figure reflecting a decline from prior levels. Further analysis and examination of operational efficiency and asset utilization may be necessary to understand the factors contributing to this trend in profitability.