One Gas Inc (OGS)
Operating return on assets (Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 377,591 | 374,035 | 363,884 | 358,431 | 349,957 | 333,382 | 328,137 | 320,670 | 310,258 | 308,279 | 307,151 | 300,657 | 303,516 | 300,462 | 298,560 | 300,843 | 295,258 | 294,142 | 291,606 | 285,758 |
| Total assets | US$ in thousands | 7,770,990 | 7,432,450 | 7,335,120 | 7,420,250 | 7,776,400 | 7,321,510 | 8,411,410 | 8,467,630 | 8,402,120 | 8,133,920 | 8,183,650 | 8,679,900 | 6,028,710 | 5,763,760 | 5,681,610 | 5,674,900 | 5,708,300 | 5,533,180 | 5,446,610 | 5,524,290 |
| Operating ROA | 4.86% | 5.03% | 4.96% | 4.83% | 4.50% | 4.55% | 3.90% | 3.79% | 3.69% | 3.79% | 3.75% | 3.46% | 5.03% | 5.21% | 5.25% | 5.30% | 5.17% | 5.32% | 5.35% | 5.17% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $377,591K ÷ $7,770,990K
= 4.86%
The operating return on assets (ROA) of ONE Gas Inc has shown a generally positive trend over the past eight quarters. The operating ROA has been increasing gradually from 4.50% in Q4 2022 to 4.86% in Q4 2023. This indicates that the company has been able to generate more operating income relative to its total assets over time.
Although there were some fluctuations in the operating ROA figures, overall the trend has been upward, with the highest level observed in Q3 2023 at 5.03%. This indicates the company's ability to efficiently utilize its assets to generate operating profits.
The operating ROA in Q1 and Q2 2022 was relatively lower compared to the other quarters, but it started to increase significantly in Q3 2022. This improvement continued into 2023, reaching its peak in Q3 2023 before slightly tapering off in the most recent quarter.
The consistent improvement in operating ROA suggests that ONE Gas Inc has been effectively managing its assets to generate operating income and create value for its stakeholders. Continued monitoring of this ratio will be important to assess the company's operational efficiency and asset utilization in the future.
Peer comparison
Dec 31, 2023