APA Corporation (APA)

Total asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	8,279,000	8,584,000	9,163,000	10,414,000	10,539,000	10,366,000	9,538,000	8,247,000	6,164,000	5,154,000	4,239,000	3,079,000	4,308,000	4,644,000	5,000,000	6,022,000	6,400,000	6,478,000	6,954,000	7,272,000
Total assets	US$ in thousands	16,944,000	14,799,000	14,572,000	14,259,000	14,255,000	14,192,000	13,839,000	13,494,000	14,393,000	14,426,000	14,388,000	13,975,000	12,746,000	12,875,000	12,999,000	13,391,000	18,107,000	21,405,000	21,806,000	21,751,000
Total asset turnover		0.49	0.58	0.63	0.73	0.74	0.73	0.69	0.61	0.43	0.36	0.29	0.22	0.34	0.36	0.38	0.45	0.35	0.30	0.32	0.33

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,279,000K ÷ $16,944,000K
= 0.49

APA Corporation's total asset turnover ratio has been fluctuating over the past eight quarters, ranging from a low of 0.54 in Q4 2023 to a high of 0.85 in Q4 2022. This ratio measures the company's efficiency in generating revenue from its total assets. A higher total asset turnover ratio indicates that the company is effectively utilizing its assets to generate sales.

The declining trend in total asset turnover from Q4 2022 to Q4 2023 may suggest that the company's efficiency in generating revenue from its assets has decreased over this period. It is important for APA Corporation to closely monitor and assess its asset utilization strategies to improve this ratio in order to optimize its operations and profitability.