Civitas Resources Inc (CIVI)
Fixed 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 | 3,296,241 | 3,066,349 | 3,106,445 | 3,597,935 | 3,775,144 | 3,476,852 | 2,665,287 | 1,674,922 | 923,213 | 476,935 | 347,546 | 228,560 | 215,005 | 232,434 | 248,784 | 298,938 | 311,230 | 297,776 | 323,327 | 310,341 |
| Property, plant and equipment | US$ in thousands | 11,820,200 | 11,767,600 | 6,706,840 | 6,679,060 | 6,611,100 | 6,461,290 | 6,348,980 | 6,310,730 | 5,944,840 | 1,578,450 | 1,558,740 | 1,011,710 | 997,311 | 1,020,900 | 1,042,630 | 1,043,180 | 1,053,580 | 1,034,950 | 1,008,920 | 946,599 |
| Fixed asset turnover | 0.28 | 0.26 | 0.46 | 0.54 | 0.57 | 0.54 | 0.42 | 0.27 | 0.16 | 0.30 | 0.22 | 0.23 | 0.22 | 0.23 | 0.24 | 0.29 | 0.30 | 0.29 | 0.32 | 0.33 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,296,241K ÷ $11,820,200K
= 0.28
The fixed asset turnover ratio measures how efficiently Civitas Resources Inc is utilizing its fixed assets to generate revenue. A higher ratio indicates more effective utilization of fixed assets.
Looking at the data provided, the fixed asset turnover for Civitas Resources Inc has shown fluctuations over the past eight quarters. In Q1 2022 and Q3 2022, the ratio was at 0.27, then increased to 0.42 in Q2 2022. The ratio further increased to 0.57 in Q4 2022, indicating improved efficiency in generating revenue from fixed assets.
However, the ratio decreased to 0.54 in Q1 2023 and Q3 2023 and dropped significantly to 0.29 in Q4 2023, suggesting a decline in the company's ability to generate revenue from its fixed assets.
Overall, the trend in fixed asset turnover for Civitas Resources Inc indicates some volatility in the efficient use of fixed assets to generate sales revenue over the quarters analyzed. Monitoring this ratio can help assess the company's operational efficiency and asset management effectiveness.
Peer comparison
Dec 31, 2023