Return on Assets (ROA)
since 2005
Calculation
Apache Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to Apache shareholders1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2015 | -122.70% | = | 100 | × | (23,119) | ÷ | 18,842) |
| Dec 31, 2014 | -9.66% | = | 100 | × | (5,403) | ÷ | 55,952) |
| Dec 31, 2013 | 3.62% | = | 100 | × | 2,232) | ÷ | 61,637) |
| Dec 31, 2012 | 3.29% | = | 100 | × | 2,001) | ÷ | 60,737) |
| Dec 31, 2011 | 8.81% | = | 100 | × | 4,584) | ÷ | 52,051) |
| Dec 31, 2010 | 6.98% | = | 100 | × | 3,032) | ÷ | 43,425) |
| Dec 31, 2009 | -1.01% | = | 100 | × | (284) | ÷ | 28,186) |
| Dec 31, 2008 | 2.44% | = | 100 | × | 712) | ÷ | 29,186) |
| Dec 31, 2007 | 9.82% | = | 100 | × | 2,812) | ÷ | 28,635) |
| Dec 31, 2006 | 10.50% | = | 100 | × | 2,552) | ÷ | 24,308) |
| Dec 31, 2005 | 13.61% | = | 100 | × | 2,624) | ÷ | 19,272) |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial performance from 2005 to 2015 is characterized by significant volatility in profitability and asset valuation, culminating in a severe collapse during the final two years of the period.
- Initial Operational Efficiency (2005–2007)
- The period began with high return on assets, peaking at 13.61% in 2005. While ROA experienced a gradual decline to 9.82% by 2007, this trend coincided with a steady expansion of the asset base, which grew from US$ 19,272 million to US$ 28,635 million.
- First Period of Contraction (2008–2009)
- A sharp deterioration in performance occurred between 2008 and 2009. Net income dropped precipitously from US$ 2,812 million in 2007 to a net loss of US$ 284 million in 2009, driving the ROA to a negative value of -1.01%.
- Recovery and Asset Expansion (2010–2013)
- A recovery phase is observed starting in 2010, as net income rebounded to US$ 3,032 million. ROA reached a secondary peak in 2011 at 8.81%. This interval was marked by aggressive asset growth, with total assets peaking at US$ 61,637 million in 2013; however, the ROA failed to return to the levels seen in 2005, suggesting a decrease in capital efficiency as the asset base scaled.
- Severe Financial Deterioration (2014–2015)
- The final two years exhibit a catastrophic decline in financial stability. Net losses widened from US$ 5,403 million in 2014 to US$ 23,119 million in 2015. The ROA plummeted to -122.70% in 2015, a result of massive losses occurring simultaneously with a drastic reduction in total assets to US$ 18,842 million, indicating substantial asset impairments or write-downs.
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Comparison to Competitors
Apache Corp., ROA, long-term trends, comparison to competitors
| Apache Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2015 | -122.70% | 1.72% | -4.54% | 4.80% |
| Dec 31, 2014 | -9.66% | 7.23% | 5.89% | 9.30% |
| Dec 31, 2013 | 3.62% | 8.44% | 7.76% | 9.39% |
| Dec 31, 2012 | 3.29% | 11.24% | 7.19% | 13.45% |
| Dec 31, 2011 | 8.81% | 12.84% | 8.12% | 12.40% |
| Dec 31, 2010 | 6.98% | 10.30% | 7.27% | 10.07% |
| Dec 31, 2009 | -1.01% | 6.37% | 3.18% | 8.26% |
| Dec 31, 2008 | 2.44% | 14.85% | -11.90% | 19.83% |
| Dec 31, 2007 | 9.82% | 12.56% | 6.69% | 16.78% |
| Dec 31, 2006 | 10.50% | 12.92% | 9.44% | 18.04% |
| Dec 31, 2005 | 13.61% | 11.20% | 12.64% | 17.34% |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Apache Corp., ROA, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Apache Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2015 | -122.70% | 2.33% |
| Dec 31, 2014 | -9.66% | 8.01% |
| Dec 31, 2013 | 3.62% | 8.79% |
| Dec 31, 2012 | 3.29% | 11.62% |
| Dec 31, 2011 | 8.81% | 11.59% |
| Dec 31, 2010 | 6.98% | 9.45% |
| Dec 31, 2009 | -1.01% | 6.29% |
| Dec 31, 2008 | 2.44% | 9.80% |
| Dec 31, 2007 | 9.82% | 12.52% |
| Dec 31, 2006 | 10.50% | 13.98% |
| Dec 31, 2005 | 13.61% | 14.45% |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Apache Corp., ROA, long-term trends, comparison to industry (energy)
| Apache Corp. | Energy | |
|---|---|---|
| Dec 31, 2015 | -122.70% | 2.39% |
| Dec 31, 2014 | -9.66% | 8.02% |
| Dec 31, 2013 | 3.62% | 8.90% |
| Dec 31, 2012 | 3.29% | 11.40% |
| Dec 31, 2011 | 8.81% | 11.40% |
| Dec 31, 2010 | 6.98% | 9.36% |
| Dec 31, 2009 | -1.01% | 6.46% |
| Dec 31, 2008 | 2.44% | 10.21% |
| Dec 31, 2007 | 9.82% | 12.80% |
| Dec 31, 2006 | 10.50% | 14.07% |
| Dec 31, 2005 | 13.61% | 14.36% |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).