National Fuel Gas Company (NFG)

Return on assets (ROA)

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	77,513	318,811	465,589	440,197	476,866	561,331	576,869	603,317	566,020	494,840	473,157	418,265	363,647	131,140	85,915	-132,589	-123,772	69,055	91,558	288,221
Total assets	US$ in thousands	8,319,770	8,481,040	8,677,020	8,587,490	8,280,260	8,106,630	7,967,240	8,134,910	7,896,260	8,112,090	7,805,020	7,589,670	7,464,820	7,208,680	7,115,650	7,039,170	6,964,940	7,118,980	6,708,660	6,702,660
ROA		0.93%	3.76%	5.37%	5.13%	5.76%	6.92%	7.24%	7.42%	7.17%	6.10%	6.06%	5.51%	4.87%	1.82%	1.21%	-1.88%	-1.78%	0.97%	1.36%	4.30%

September 30, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $77,513K ÷ $8,319,770K
= 0.93%

The Return on Assets (ROA) of National Fuel Gas Company has shown fluctuations over the past eight quarters. ROA reflects the company's ability to generate profits from its assets.

In the most recent quarter, ending September 30, 2024, the ROA was 0.93%, which represents a decrease from the previous quarter's 3.76%. This decline could indicate a lower level of profitability relative to the company's asset base.

Looking at the trend over the past year, the ROA has shown a general downward trajectory since reaching a peak of 7.42% in March 2023. The ROA has since fluctuated within a range, with some quarters reflecting negative ROA figures.

It is important to analyze the reasons behind these trends. A decreasing ROA could be a result of declining profitability, inefficient asset utilization, or increasing asset base without corresponding revenue growth. Conversely, an increasing ROA could indicate improving operational efficiency or effective asset management.

Further qualitative and quantitative analysis is needed to determine the factors driving the changes in ROA and to assess the overall financial performance and health of National Fuel Gas Company.