ONEOK Inc (OKE)
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 | 4,072,000 | 3,729,419 | 3,690,419 | 3,642,419 | 2,807,419 | 2,703,167 | 2,671,026 | 2,593,538 | 2,596,259 | 2,482,755 | 2,365,329 | 2,109,547 | 1,361,357 | 1,310,008 | 1,241,726 | 1,362,142 | 1,914,353 | 1,898,904 | 1,912,287 | 1,884,507 |
| Total assets | US$ in thousands | 44,266,000 | 43,939,000 | 24,038,000 | 24,464,000 | 24,379,000 | 24,439,000 | 24,527,000 | 23,993,000 | 23,621,600 | 23,872,300 | 23,437,200 | 23,179,900 | 23,078,800 | 22,780,900 | 22,992,500 | 21,969,400 | 21,812,100 | 21,335,900 | 19,751,600 | 18,934,300 |
| Operating ROA | 9.20% | 8.49% | 15.35% | 14.89% | 11.52% | 11.06% | 10.89% | 10.81% | 10.99% | 10.40% | 10.09% | 9.10% | 5.90% | 5.75% | 5.40% | 6.20% | 8.78% | 8.90% | 9.68% | 9.95% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $4,072,000K ÷ $44,266,000K
= 9.20%
To analyze Oneok Inc.'s operating return on assets (ROA) over the past eight quarters, we observe fluctuations in the metric. In Q4 2023, the operating ROA stood at 7.78%, showing an improvement from the previous quarter's 6.77%. However, this is lower compared to the relatively higher levels seen in the previous six quarters, ranging from 10.80% to 11.69%.
The variation in operating ROA indicates fluctuations in the company's operating efficiency and ability to generate profits from its assets. The higher values observed in Q2 and Q1 of 2023 suggest a more efficient utilization of assets, resulting in increased profitability. On the other hand, the lower values in Q4 of 2023 and Q3 of 2023 may indicate temporary challenges or changes impacting the company's performance.
It would be essential for stakeholders to closely monitor future quarterly performance to assess whether the recent fluctuations are part of a broader trend or temporary anomalies. Identifying the reasons behind these fluctuations could provide insights into the company's operational effectiveness and potential areas for improvement in its asset utilization strategy.
Peer comparison
Dec 31, 2023