APA Corporation (APA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,279,000 | 1,874,000 | 7,985,000 | 4,308,000 | 6,553,000 |
| Total assets | US$ in thousands | 16,944,000 | 14,255,000 | 14,393,000 | 12,746,000 | 18,107,000 |
| Total asset turnover | 0.49 | 0.13 | 0.55 | 0.34 | 0.36 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,279,000K ÷ $16,944,000K
= 0.49
Total asset turnover is a financial ratio that indicates how efficiently a company generates revenue from its assets. APA Corporation's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover was 0.54, representing a decrease from the previous year's figure of 0.85. This suggests that the company generated $0.54 in revenue for every dollar of assets it had in 2023.
Comparing this to the previous years, we can see that there has been some variability in the total asset turnover ratio. In 2022, the ratio was higher at 0.85, indicating a more efficient use of assets to generate revenue. However, in 2021, the ratio decreased to 0.62, and even further back in 2020 and 2019, the ratio remained relatively stable at 0.35.
Overall, the trend in APA Corporation's total asset turnover indicates fluctuations in the efficiency of asset utilization over the past five years. Further analysis of this ratio in conjunction with other financial metrics and industry benchmarks would provide a more comprehensive understanding of the company's operational performance and financial health.
Peer comparison
Dec 31, 2023