Return on Equity (ROE)
since 2005
Calculation
Hess Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to Hess Corporation1 | ÷ | Total Hess Corporation stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 26.68% | = | 100 | × | 2,096) | ÷ | 7,855) |
| Dec 31, 2021 | 8.87% | = | 100 | × | 559) | ÷ | 6,300) |
| Dec 31, 2020 | -57.64% | = | 100 | × | (3,093) | ÷ | 5,366) |
| Dec 31, 2019 | -4.67% | = | 100 | × | (408) | ÷ | 8,732) |
| Dec 31, 2018 | -2.93% | = | 100 | × | (282) | ÷ | 9,629) |
| Dec 31, 2017 | -36.87% | = | 100 | × | (4,074) | ÷ | 11,051) |
| Dec 31, 2016 | -42.19% | = | 100 | × | (6,132) | ÷ | 14,534) |
| Dec 31, 2015 | -15.76% | = | 100 | × | (3,056) | ÷ | 19,386) |
| Dec 31, 2014 | 10.43% | = | 100 | × | 2,317) | ÷ | 22,205) |
| Dec 31, 2013 | 20.44% | = | 100 | × | 5,052) | ÷ | 24,720) |
| Dec 31, 2012 | 9.60% | = | 100 | × | 2,025) | ÷ | 21,090) |
| Dec 31, 2011 | 9.20% | = | 100 | × | 1,703) | ÷ | 18,516) |
| Dec 31, 2010 | 12.73% | = | 100 | × | 2,125) | ÷ | 16,689) |
| Dec 31, 2009 | 5.53% | = | 100 | × | 740) | ÷ | 13,384) |
| Dec 31, 2008 | 19.18% | = | 100 | × | 2,360) | ÷ | 12,307) |
| Dec 31, 2007 | 18.74% | = | 100 | × | 1,832) | ÷ | 9,774) |
| Dec 31, 2006 | 23.62% | = | 100 | × | 1,916) | ÷ | 8,111) |
| Dec 31, 2005 | 19.76% | = | 100 | × | 1,242) | ÷ | 6,286) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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 2022 is characterized by three distinct cycles: a period of consistent profitability and equity growth, a prolonged phase of significant net losses and equity erosion, and a recent sharp recovery in return on equity (ROE).
- Profitability and Equity Expansion (2005–2014)
- During the first decade, ROE remained predominantly positive, with notable peaks of 23.62% in 2006 and 20.44% in 2013. This period was characterized by a steady increase in stockholders' equity, which grew from 6,286 million USD in 2005 to a peak of 24,720 million USD in 2013. While a temporary dip in ROE occurred in 2009 (5.53%), the overall trend remained positive until 2014.
- Operational Downturn and Equity Erosion (2015–2020)
- A severe contraction occurred starting in 2015, as ROE turned negative for six consecutive years. The most acute declines were observed in 2016 (-42.19%) and 2020 (-57.64%). This collapse in ROE coincided with substantial net losses, including a loss of 6,132 million USD in 2016 and 3,093 million USD in 2020. These losses drove a significant erosion of stockholders' equity, which fell from 22,205 million USD in 2014 to a low of 5,366 million USD by the end of 2020.
- Recovery and Performance Surge (2021–2022)
- A decisive reversal in performance is evident in the final two years of the period. ROE returned to positive territory at 8.87% in 2021 and accelerated to 26.68% in 2022, the highest value recorded since 2006. This recovery is supported by a return to net income profitability, reaching 2,096 million USD in 2022, and a corresponding rebuilding of stockholders' equity to 7,855 million USD.
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Comparison to Competitors
Hess Corp., ROE, long-term trends, comparison to competitors
| Hess Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2022 | 26.68% | 22.27% | 38.91% | 28.58% |
| Dec 31, 2021 | 8.87% | 11.24% | 17.79% | 13.67% |
| Dec 31, 2020 | -57.64% | -4.21% | -9.05% | -14.28% |
| Dec 31, 2019 | -4.67% | 2.03% | 20.55% | 7.48% |
| Dec 31, 2018 | -2.93% | 9.59% | 19.59% | 10.87% |
| Dec 31, 2017 | -36.87% | 6.21% | -2.79% | 10.50% |
| Dec 31, 2016 | -42.19% | -0.34% | -10.34% | 4.69% |
| Dec 31, 2015 | -15.76% | 3.00% | -11.14% | 9.45% |
| Dec 31, 2014 | 10.43% | 12.41% | 13.23% | 18.65% |
| Dec 31, 2013 | 20.44% | 14.37% | 17.58% | 18.72% |
| Dec 31, 2012 | 9.60% | 19.18% | 17.56% | 27.06% |
| Dec 31, 2011 | 9.20% | 22.16% | 19.07% | 26.59% |
| Dec 31, 2010 | 12.73% | 18.10% | 16.57% | 20.74% |
| Dec 31, 2009 | 5.53% | 11.41% | 7.78% | 17.44% |
| Dec 31, 2008 | 19.18% | 27.62% | -30.81% | 40.03% |
| Dec 31, 2007 | 18.74% | 24.24% | 13.36% | 33.35% |
| Dec 31, 2006 | 23.62% | 24.86% | 18.82% | 34.70% |
| Dec 31, 2005 | 19.76% | 22.50% | 25.66% | 32.50% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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)
Hess Corp., ROE, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Hess Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | 26.68% | 27.31% |
| Dec 31, 2021 | 8.87% | 13.24% |
| Dec 31, 2020 | -57.64% | -9.63% |
| Dec 31, 2019 | -4.67% | 6.59% |
| Dec 31, 2018 | -2.93% | 11.08% |
| Dec 31, 2017 | -36.87% | 7.66% |
| Dec 31, 2016 | -42.19% | 1.07% |
| Dec 31, 2015 | -15.76% | 4.49% |
| Dec 31, 2014 | 10.43% | 15.37% |
| Dec 31, 2013 | 20.44% | 16.83% |
| Dec 31, 2012 | 9.60% | 22.69% |
| Dec 31, 2011 | 9.20% | 23.57% |
| Dec 31, 2010 | 12.73% | 18.98% |
| Dec 31, 2009 | 5.53% | 13.07% |
| Dec 31, 2008 | 19.18% | 20.47% |
| Dec 31, 2007 | 18.74% | 24.73% |
| Dec 31, 2006 | 23.62% | 27.20% |
| Dec 31, 2005 | 19.76% | 28.14% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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)
Hess Corp., ROE, long-term trends, comparison to industry (energy)
| Hess Corp. | Energy | |
|---|---|---|
| Dec 31, 2022 | 26.68% | 26.98% |
| Dec 31, 2021 | 8.87% | 13.21% |
| Dec 31, 2020 | -57.64% | -12.46% |
| Dec 31, 2019 | -4.67% | 3.63% |
| Dec 31, 2018 | -2.93% | 10.63% |
| Dec 31, 2017 | -36.87% | 6.58% |
| Dec 31, 2016 | -42.19% | 0.52% |
| Dec 31, 2015 | -15.76% | 4.61% |
| Dec 31, 2014 | 10.43% | 15.28% |
| Dec 31, 2013 | 20.44% | 16.85% |
| Dec 31, 2012 | 9.60% | 22.06% |
| Dec 31, 2011 | 9.20% | 22.94% |
| Dec 31, 2010 | 12.73% | 18.51% |
| Dec 31, 2009 | 5.53% | 13.29% |
| Dec 31, 2008 | 19.18% | 21.20% |
| Dec 31, 2007 | 18.74% | 25.23% |
| Dec 31, 2006 | 23.62% | 27.51% |
| Dec 31, 2005 | 19.76% | 28.17% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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).