United States Steel Corporation (X)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 895,000 | 2,524,000 | 4,174,000 | -1,165,000 | -630,000 |
| Total assets | US$ in thousands | 20,451,000 | 19,458,000 | 17,816,000 | 12,059,000 | 11,608,000 |
| ROA | 4.38% | 12.97% | 23.43% | -9.66% | -5.43% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $895,000K ÷ $20,451,000K
= 4.38%
United States Steel Corp.'s return on assets (ROA) has fluctuated over the past five years. The ROA for the company was 4.38% in 2023, a significant decrease from 12.97% in 2022 and a substantial decline from 23.43% in 2021. The sharp decline in ROA from 2021 to 2023 indicates a decrease in the company's ability to generate profit from its assets.
In 2020, the company had a negative ROA of -9.66%, which improved from the ROA of -5.43% in 2019. A negative ROA indicates that the company's assets were not generating profits during those years.
Overall, the fluctuating ROA of United States Steel Corp. suggests a varying level of efficiency in generating profits from its assets over the past five years. Further analysis of the company's financial performance and operational strategies is necessary to understand the factors contributing to these fluctuations in ROA.
Peer comparison
Dec 31, 2023