Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Shell Midstream Partners LP's annualizedNet Income for the quarter that ended in Jun. 2022 was $592.0 Mil. Shell Midstream Partners LP's average total tangible assets for the quarter that ended in Jun. 2022 was $2,214.0 Mil. Therefore, Shell Midstream Partners LP's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2022 was 26.74%.
The historical rank and industry rank for Shell Midstream Partners LP's Return-on-Tangible-Asset or its related term are showing as below:
SHLX's Return-on-Tangible-Asset is not ranked *
in the Oil & Gas industry.
Industry Median: 2.83 * Ranked among companies with meaningful Return-on-Tangible-Asset only.
Shell Midstream Partners LP Return-on-Tangible-Asset Historical Data
The historical data trend for Shell Midstream Partners LP's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Premium members only.
Shell Midstream Partners LP Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Return-on-Tangible-Asset
22.09
28.29
26.85
24.87
23.84
Shell Midstream Partners LP Quarterly Data
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Return-on-Tangible-Asset
27.88
21.82
17.90
28.00
26.74
Competitive Comparison
For the Oil & Gas Midstream subindustry, Shell Midstream Partners LP's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Shell Midstream Partners LP Return-on-Tangible-Asset Distribution
For the Oil & Gas industry and Energy sector, Shell Midstream Partners LP's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Shell Midstream Partners LP's Return-on-Tangible-Asset falls in comparison to its industry or sector. The grey bar indicates the Return-on-Tangible-Asset's extreme value range as defined by GuruFocus.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2022) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Shell Midstream Partners LP Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Shell Midstream Partners LP's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Shell Midstream Partners LP (NYSE:SHLX) Business Description
Shell Midstream Partners LP is a US-based limited partnership that is formed to own, operate, develop and acquire pipelines and other midstream assets. The company holds an interest in several entities which own crude oil, refined products and natural gas pipelines, and crude tank storage and terminal system. It provides a transportation and storage facility to deliver refined products from Gulf Coast markets to demand centers. The company earns revenue through the long-term transportation agreements by charging fees for the transportation of crude oil and refined products through its pipelines.
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