One Gas Inc (OGS)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	231,232	221,742	206,434	196,412	186,749
Total assets	US$ in thousands	7,770,990	7,776,400	8,402,120	6,028,710	5,708,300
ROA		2.98%	2.85%	2.46%	3.26%	3.27%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $231,232K ÷ $7,770,990K
= 2.98%

ONE Gas Inc's return on assets (ROA) has shown fluctuations over the past five years. The ROA ranged from a high of 3.27% in 2019 to a low of 2.46% in 2021, with the latest data for 2023 showing a ROA of 2.98%.

The company's ROA indicates how efficiently it is utilizing its assets to generate profits. The downward trend from 2019 to 2021 suggests a potential decrease in asset efficiency or profitability during those years. However, the slight increase in ROA from 2022 to 2023 signifies an improvement in the company's ability to generate earnings relative to its total assets.

Overall, ONE Gas Inc's ROA performance may reflect some variability but appears to be relatively stable, with the latest data indicating a moderate profitability level. Further analysis would be advisable to determine the underlying factors influencing these fluctuations and to assess the company's asset management strategies.