Return on Assets (ROA)
since 2005
Calculation
Pioneer Natural Resources Co., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to common stockholders1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 13.37% | = | 100 | × | 4,894) | ÷ | 36,613) |
| Dec 31, 2022 | 21.95% | = | 100 | × | 7,845) | ÷ | 35,740) |
| Dec 31, 2021 | 5.75% | = | 100 | × | 2,118) | ÷ | 36,811) |
| Dec 31, 2020 | -1.04% | = | 100 | × | (200) | ÷ | 19,229) |
| Dec 31, 2019 | 3.96% | = | 100 | × | 756) | ÷ | 19,067) |
| Dec 31, 2018 | 5.46% | = | 100 | × | 978) | ÷ | 17,903) |
| Dec 31, 2017 | 4.90% | = | 100 | × | 833) | ÷ | 17,003) |
| Dec 31, 2016 | -3.38% | = | 100 | × | (556) | ÷ | 16,459) |
| Dec 31, 2015 | -1.80% | = | 100 | × | (273) | ÷ | 15,154) |
| Dec 31, 2014 | 6.23% | = | 100 | × | 930) | ÷ | 14,926) |
| Dec 31, 2013 | -6.82% | = | 100 | × | (838) | ÷ | 12,293) |
| Dec 31, 2012 | 1.47% | = | 100 | × | 192) | ÷ | 13,069) |
| Dec 31, 2011 | 7.24% | = | 100 | × | 834) | ÷ | 11,524) |
| Dec 31, 2010 | 6.25% | = | 100 | × | 605) | ÷ | 9,679) |
| Dec 31, 2009 | -0.59% | = | 100 | × | (52) | ÷ | 8,867) |
| Dec 31, 2008 | 2.40% | = | 100 | × | 220) | ÷ | 9,163) |
| Dec 31, 2007 | 4.33% | = | 100 | × | 373) | ÷ | 8,617) |
| Dec 31, 2006 | 10.06% | = | 100 | × | 740) | ÷ | 7,355) |
| Dec 31, 2005 | 7.29% | = | 100 | × | 535) | ÷ | 7,329) |
Based on: 10-K (reporting date: 2023-12-31), 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 2023 is characterized by significant volatility in profitability and a substantial expansion of the asset base. Total assets grew steadily from 7,329 million USD in 2005 to 36,613 million USD by 2023, with a particularly sharp increase occurring between 2020 and 2021, where assets nearly doubled from 19,229 million USD to 36,811 million USD.
- Early Period Fluctuations (2005–2012)
- Return on Assets (ROA) initially showed strength, reaching a peak of 10.06% in 2006. This was followed by a period of decline, including the first instance of negative return in 2009 (-0.59%). A subsequent recovery saw ROA climb back to 7.24% by 2011 before dropping again to 1.47% in 2012.
- Mid-Term Volatility and Contractions (2013–2020)
- The period between 2013 and 2020 was marked by recurring instability. A severe contraction occurred in 2013, with ROA falling to -6.82% in conjunction with a net loss of 838 million USD. Further negative returns were recorded in 2015 (-1.80%), 2016 (-3.38%), and 2020 (-1.04%). Periods of recovery during this window, such as in 2014 and 2018, generally saw ROA stabilizing between 4% and 6%.
- Recent Profitability Surge (2021–2023)
- A transformative increase in asset efficiency is observed starting in 2021. Despite the massive increase in the asset base, ROA rose sharply, reaching an all-time high of 21.95% in 2022, driven by a peak net income of 7,845 million USD. While the ROA moderated to 13.37% in 2023, the figure remains well above the historical norms established over the preceding seventeen years.
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Comparison to Competitors
Pioneer Natural Resources Co., ROA, long-term trends, comparison to competitors
| Pioneer Natural Resources Co. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 13.37% | 8.17% | 11.42% | 9.57% |
| Dec 31, 2022 | 21.95% | 13.76% | 19.91% | 15.10% |
| Dec 31, 2021 | 5.75% | 6.52% | 8.91% | 6.80% |
| Dec 31, 2020 | -1.04% | -2.31% | -4.31% | -6.74% |
| Dec 31, 2019 | 3.96% | 1.23% | 10.20% | 3.95% |
| Dec 31, 2018 | 5.46% | 5.84% | 8.94% | 6.02% |
| Dec 31, 2017 | 4.90% | 3.62% | -1.17% | 5.65% |
| Dec 31, 2016 | -3.38% | -0.19% | -4.03% | 2.37% |
| Dec 31, 2015 | -1.80% | 1.72% | -4.54% | 4.80% |
| Dec 31, 2014 | 6.23% | 7.23% | 5.89% | 9.30% |
| Dec 31, 2013 | -6.82% | 8.44% | 7.76% | 9.39% |
| Dec 31, 2012 | 1.47% | 11.24% | 7.19% | 13.45% |
| Dec 31, 2011 | 7.24% | 12.84% | 8.12% | 12.40% |
| Dec 31, 2010 | 6.25% | 10.30% | 7.27% | 10.07% |
| Dec 31, 2009 | -0.59% | 6.37% | 3.18% | 8.26% |
| Dec 31, 2008 | 2.40% | 14.85% | -11.90% | 19.83% |
| Dec 31, 2007 | 4.33% | 12.56% | 6.69% | 16.78% |
| Dec 31, 2006 | 10.06% | 12.92% | 9.44% | 18.04% |
| Dec 31, 2005 | 7.29% | 11.20% | 12.64% | 17.34% |
Based on: 10-K (reporting date: 2023-12-31), 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)
Pioneer Natural Resources Co., ROA, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Pioneer Natural Resources Co. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 13.37% | 9.31% |
| Dec 31, 2022 | 21.95% | 15.25% |
| Dec 31, 2021 | 5.75% | 6.99% |
| Dec 31, 2020 | -1.04% | -4.83% |
| Dec 31, 2019 | 3.96% | 3.65% |
| Dec 31, 2018 | 5.46% | 6.26% |
| Dec 31, 2017 | 4.90% | 4.15% |
| Dec 31, 2016 | -3.38% | 0.55% |
| Dec 31, 2015 | -1.80% | 2.33% |
| Dec 31, 2014 | 6.23% | 8.01% |
| Dec 31, 2013 | -6.82% | 8.79% |
| Dec 31, 2012 | 1.47% | 11.62% |
| Dec 31, 2011 | 7.24% | 11.59% |
| Dec 31, 2010 | 6.25% | 9.45% |
| Dec 31, 2009 | -0.59% | 6.29% |
| Dec 31, 2008 | 2.40% | 9.80% |
| Dec 31, 2007 | 4.33% | 12.52% |
| Dec 31, 2006 | 10.06% | 13.98% |
| Dec 31, 2005 | 7.29% | 14.45% |
Based on: 10-K (reporting date: 2023-12-31), 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)
Pioneer Natural Resources Co., ROA, long-term trends, comparison to industry (energy)
| Pioneer Natural Resources Co. | Energy | |
|---|---|---|
| Dec 31, 2023 | 13.37% | 9.28% |
| Dec 31, 2022 | 21.95% | 14.84% |
| Dec 31, 2021 | 5.75% | 6.84% |
| Dec 31, 2020 | -1.04% | -6.08% |
| Dec 31, 2019 | 3.96% | 1.97% |
| Dec 31, 2018 | 5.46% | 5.95% |
| Dec 31, 2017 | 4.90% | 3.55% |
| Dec 31, 2016 | -3.38% | 0.27% |
| Dec 31, 2015 | -1.80% | 2.39% |
| Dec 31, 2014 | 6.23% | 8.02% |
| Dec 31, 2013 | -6.82% | 8.90% |
| Dec 31, 2012 | 1.47% | 11.40% |
| Dec 31, 2011 | 7.24% | 11.40% |
| Dec 31, 2010 | 6.25% | 9.36% |
| Dec 31, 2009 | -0.59% | 6.46% |
| Dec 31, 2008 | 2.40% | 10.21% |
| Dec 31, 2007 | 4.33% | 12.80% |
| Dec 31, 2006 | 10.06% | 14.07% |
| Dec 31, 2005 | 7.29% | 14.36% |
Based on: 10-K (reporting date: 2023-12-31), 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).