Return on Assets (ROA)
since 2005
Calculation
United States Steel Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings (loss) attributable to United States Steel Corporation1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 12.97% | = | 100 | × | 2,524) | ÷ | 19,458) |
| Dec 31, 2021 | 23.43% | = | 100 | × | 4,174) | ÷ | 17,816) |
| Dec 31, 2020 | -9.66% | = | 100 | × | (1,165) | ÷ | 12,059) |
| Dec 31, 2019 | -5.43% | = | 100 | × | (630) | ÷ | 11,608) |
| Dec 31, 2018 | 10.15% | = | 100 | × | 1,115) | ÷ | 10,982) |
| Dec 31, 2017 | 3.92% | = | 100 | × | 387) | ÷ | 9,862) |
| Dec 31, 2016 | -4.80% | = | 100 | × | (440) | ÷ | 9,160) |
| Dec 31, 2015 | -17.87% | = | 100 | × | (1,642) | ÷ | 9,190) |
| Dec 31, 2014 | 0.83% | = | 100 | × | 102) | ÷ | 12,314) |
| Dec 31, 2013 | -12.72% | = | 100 | × | (1,672) | ÷ | 13,143) |
| Dec 31, 2012 | -0.81% | = | 100 | × | (124) | ÷ | 15,217) |
| Dec 31, 2011 | -0.33% | = | 100 | × | (53) | ÷ | 16,073) |
| Dec 31, 2010 | -3.14% | = | 100 | × | (482) | ÷ | 15,350) |
| Dec 31, 2009 | -9.08% | = | 100 | × | (1,401) | ÷ | 15,422) |
| Dec 31, 2008 | 13.13% | = | 100 | × | 2,112) | ÷ | 16,087) |
| Dec 31, 2007 | 5.62% | = | 100 | × | 879) | ÷ | 15,632) |
| Dec 31, 2006 | 12.98% | = | 100 | × | 1,374) | ÷ | 10,586) |
| Dec 31, 2005 | 9.26% | = | 100 | × | 910) | ÷ | 9,822) |
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 return on assets (ROA) for the period between 2005 and 2022 demonstrates significant cyclical volatility, characterized by alternating phases of operational profitability and substantial net losses.
- Initial Performance and First Downturn (2005–2013)
- A period of relative strength is observed from 2005 to 2008, with ROA peaking at 13.13% in 2008. This was followed by a sharp reversal in 2009, where ROA dropped to -9.08%. Negative returns persisted for the majority of this interval, reaching a low of -12.72% in 2013, coinciding with a sustained period of net losses.
- Mid-Term Volatility (2014–2016)
- A brief recovery occurred in 2014 with a marginal ROA of 0.83%. However, this was immediately followed by the most severe contraction in the analyzed period, with ROA dropping to -17.87% in 2015. This decline corresponds with a significant reduction in the total asset base, which fell from $12.3 billion in 2014 to $9.19 billion in 2015.
- Recovery and Recent Extremes (2017–2022)
- Profitability returned in 2017 and 2018, with ROA climbing to 10.15% by the end of 2018. After another dip into negative territory during 2019 and 2020, a dramatic surge occurred in 2021, achieving a historical peak ROA of 23.43%. This peak was driven by a substantial increase in net earnings to $4.17 billion. The period concluded with an ROA of 12.97% in 2022, indicating a stabilization at a higher level of asset efficiency relative to the 2009–2020 timeframe.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
United States Steel Corp., ROA, long-term trends, comparison to competitors
| United States Steel Corp. | Freeport-McMoRan Inc. | |
|---|---|---|
| Dec 31, 2022 | 12.97% | 6.79% |
| Dec 31, 2021 | 23.43% | 8.97% |
| Dec 31, 2020 | -9.66% | 1.42% |
| Dec 31, 2019 | -5.43% | -0.59% |
| Dec 31, 2018 | 10.15% | 6.16% |
| Dec 31, 2017 | 3.92% | 4.87% |
| Dec 31, 2016 | -4.80% | -11.13% |
| Dec 31, 2015 | -17.87% | -26.27% |
| Dec 31, 2014 | 0.83% | -2.22% |
| Dec 31, 2013 | -12.72% | 4.19% |
| Dec 31, 2012 | -0.81% | 8.58% |
| Dec 31, 2011 | -0.33% | 14.22% |
| Dec 31, 2010 | -3.14% | 14.76% |
| Dec 31, 2009 | -9.08% | 10.57% |
| Dec 31, 2008 | 13.13% | -47.39% |
| Dec 31, 2007 | 5.62% | 7.32% |
| Dec 31, 2006 | 12.98% | 27.02% |
| Dec 31, 2005 | 9.26% | 17.93% |
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 (Materials)
United States Steel Corp., ROA, long-term trends, comparison to industry (materials)
| United States Steel Corp. | Materials | |
|---|---|---|
| Dec 31, 2022 | 12.97% | 6.28% |
| Dec 31, 2021 | 23.43% | 6.65% |
| Dec 31, 2020 | -9.66% | 3.40% |
| Dec 31, 2019 | -5.43% | 2.43% |
| Dec 31, 2018 | 10.15% | 5.23% |
| Dec 31, 2017 | 3.92% | 6.22% |
| Dec 31, 2016 | -4.80% | -2.40% |
| Dec 31, 2015 | -17.87% | -13.63% |
| Dec 31, 2014 | 0.83% | 1.48% |
| Dec 31, 2013 | -12.72% | 5.73% |
| Dec 31, 2012 | -0.81% | 8.98% |
| Dec 31, 2011 | -0.33% | 12.44% |
| Dec 31, 2010 | -3.14% | 12.03% |
| Dec 31, 2009 | -9.08% | 9.94% |
| Dec 31, 2008 | 13.13% | -22.98% |
| Dec 31, 2007 | 5.62% | 8.10% |
| Dec 31, 2006 | 12.98% | 14.06% |
| Dec 31, 2005 | 9.26% | 10.70% |
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).