ChampionX Corporation (CHX)
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 | 3,758,285 | 3,800,585 | 3,882,362 | 3,888,334 | 3,805,947 | 3,642,237 | 3,439,462 | 3,256,062 | 3,074,990 | 2,958,967 | 2,773,708 | 2,323,450 | 1,899,996 | 1,441,622 | 1,084,935 | 1,092,191 | 1,131,251 | 1,196,636 | 1,235,968 | 1,235,545 |
| Total assets | US$ in thousands | 3,241,700 | 3,311,200 | 3,329,840 | 3,327,340 | 3,387,480 | 3,402,780 | 3,463,150 | 3,571,720 | 3,534,700 | 3,503,000 | 3,486,010 | 3,475,790 | 3,475,780 | 3,453,730 | 3,520,830 | 1,245,240 | 1,922,820 | 1,972,250 | 1,975,440 | 1,988,610 |
| Total asset turnover | 1.16 | 1.15 | 1.17 | 1.17 | 1.12 | 1.07 | 0.99 | 0.91 | 0.87 | 0.84 | 0.80 | 0.67 | 0.55 | 0.42 | 0.31 | 0.88 | 0.59 | 0.61 | 0.63 | 0.62 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,758,285K ÷ $3,241,700K
= 1.16
ChampionX Corp.'s total asset turnover has shown a generally increasing trend over the past eight quarters, indicating improved efficiency in generating sales revenue relative to its total assets. The company's total asset turnover ratio ranged from 0.91 in Q1 2022 to 1.17 in Q2 2023 and Q1 2023. This suggests that for every dollar of total assets, ChampionX generated sales revenue between $0.91 and $1.17 across the quarters.
The average total asset turnover for the latest four quarters was 1.16, reflecting a healthy level of asset utilization efficiency. This indicates that ChampionX is effectively leveraging its assets to drive sales and potentially increase profitability. Overall, the increasing trend in total asset turnover indicates that ChampionX has been successful in efficiently utilizing its assets to generate revenue during the analyzed period.
Peer comparison
Dec 31, 2023