Chord Energy Corp (CHRD)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,865,450 | 4,141,210 | 1,771,930 | 1,895,380 | 2,177,600 |
| Total assets | US$ in thousands | 6,926,150 | 6,631,080 | 3,026,790 | 7,499,250 | 7,626,140 |
| Total asset turnover | 0.56 | 0.62 | 0.59 | 0.25 | 0.29 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,865,450K ÷ $6,926,150K
= 0.56
The total asset turnover ratio for Chord Energy Corp has shown a consistent improvement over the past three years, increasing from 0.52 in 2021 to 0.56 in 2023. This indicates that the company generated $0.56 in sales revenue for every dollar of total assets in 2023, up from $0.52 in 2021. The upward trend suggests that Chord Energy Corp has become more efficient in utilizing its assets to generate revenue over time. This improvement could be attributed to better management of inventory, efficient production processes, or effective sales and marketing strategies. Overall, the increasing total asset turnover ratio reflects positively on the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2023