Consol Energy Inc (CEIX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,568,880 | 2,101,940 | 1,258,950 | 1,021,640 | 1,430,900 |
| Total assets | US$ in thousands | 2,675,000 | 2,704,380 | 2,573,520 | 2,523,370 | 2,693,800 |
| Total asset turnover | 0.96 | 0.78 | 0.49 | 0.40 | 0.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,568,880K ÷ $2,675,000K
= 0.96
The total asset turnover ratio measures how efficiently a company is utilizing its assets to generate revenue. Consol Energy Inc's total asset turnover has shown a fluctuating trend over the past five years.
In 2023, the total asset turnover ratio improved to 0.94, indicating that for every dollar of assets, Consol Energy generated $0.94 of revenue. This suggests a more efficient use of assets compared to the prior year when the ratio was 0.84.
The significant increase in total asset turnover in 2023 compared to 2022 could be attributed to better asset utilization or increased revenue generation. Consol Energy may have improved its operational efficiency, increased sales, or made strategic asset management decisions.
However, looking back at the trend over the past five years, the ratio has experienced fluctuations, hitting a low of 0.35 in 2020 and a high of 0.51 in 2019. This indicates that Consol Energy's ability to generate revenue from its assets has varied significantly over the years.
Overall, Consol Energy's total asset turnover ratio in 2023 suggests an improvement in asset efficiency and revenue generation compared to the prior year, but the company should continue to focus on optimizing asset utilization to enhance profitability.
Peer comparison
Dec 31, 2023