ONEOK Inc (OKE)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 2,659,000 | 1,722,220 | 1,499,710 | 612,809 | 1,278,580 |
| Total assets | US$ in thousands | 44,266,000 | 24,379,000 | 23,621,600 | 23,078,800 | 21,812,100 |
| ROA | 6.01% | 7.06% | 6.35% | 2.66% | 5.86% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $2,659,000K ÷ $44,266,000K
= 6.01%
Oneok Inc.'s return on assets (ROA) has fluctuated over the past five years. In 2023, the ROA was 6.00%, showing a slight decrease from the previous year when it was 7.06%. This decline may indicate that the company's ability to generate profits from its assets decreased slightly during the year.
Compared to 2021 when the ROA was 6.34%, the 2023 ROA of 6.00% suggests a further dip in profitability efficiency. However, the 2023 ROA is still higher than the 2020 ROA of 2.65%, indicating an improvement in asset utilization over the two-year period.
When looking at the longer term trend, Oneok Inc.'s ROA was 5.86% in 2019, which was higher than the 2023 ROA. This suggests that the company's asset efficiency was stronger in 2019 compared to 2023, despite the fluctuations in between.
In summary, while Oneok Inc. experienced a slight decrease in its return on assets in 2023 compared to the previous year, the company has shown variability in ROA performance over the five-year period. Further analysis and investigation into the factors influencing these fluctuations could provide insights into the company's future financial performance.
Peer comparison
Dec 31, 2023