Chesapeake Energy Corp (CHK)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,721,000 | 11,743,000 | 5,549,000 | 5,240,000 | 8,532,000 |
| Total assets | US$ in thousands | 14,376,000 | 15,468,000 | 11,009,000 | 6,584,000 | 16,193,000 |
| Total asset turnover | 0.61 | 0.76 | 0.50 | 0.80 | 0.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,721,000K ÷ $14,376,000K
= 0.61
Chesapeake Energy Corp's total asset turnover has fluctuated over the past five years. The ratio was 0.61 in 2023, indicating that the company generated $0.61 in sales for every dollar of total assets. This represents a decrease from the previous year's ratio of 0.76. The declining trend suggests that the company's efficiency in generating sales from its assets has weakened in 2023 compared to 2022.
Looking further back, the total asset turnover was 0.50 in 2021, 0.80 in 2020, and 0.53 in 2019. The company experienced a significant improvement in asset utilization in 2020, as reflected in the ratio of 0.80, which indicates that Chesapeake Energy Corp was able to generate $0.80 in sales for each dollar of assets during that year.
However, the ratios for 2021 and 2019 were lower, indicating that the company's efficiency in utilizing its assets to generate revenue was less effective during those years. Overall, the varying total asset turnover ratios suggest fluctuations in Chesapeake Energy Corp's effectiveness in generating sales from its asset base over the past five years.
Peer comparison
Dec 31, 2023