Civitas Resources Inc (CIVI)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,204,240 | 3,296,250 | 3,775,140 | 923,213 | 215,005 |
| Total assets | US$ in thousands | 14,944,100 | 14,097,300 | 7,971,400 | 6,741,030 | 1,182,810 |
| Total asset turnover | 0.35 | 0.23 | 0.47 | 0.14 | 0.18 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,204,240K ÷ $14,944,100K
= 0.35
Total asset turnover is a measure of how efficiently a company is utilizing its assets to generate revenue. In the case of Civitas Resources Inc, the total asset turnover ratio has fluctuated over the past five years.
In 2020, the total asset turnover was 0.18, indicating that the company generated $0.18 in revenue for every $1 of assets it had. This ratio decreased to 0.14 in 2021, suggesting a decline in asset efficiency.
However, the ratio significantly improved in 2022 to 0.47, signaling that the company was able to generate more revenue per dollar of assets invested. In 2023, the ratio dropped to 0.23, reflecting a decrease in asset utilization efficiency.
By the end of 2024, the total asset turnover increased to 0.35, showing a recovery in asset efficiency compared to the previous year. Overall, fluctuations in the total asset turnover ratio indicate changes in how effectively Civitas Resources Inc is using its assets to generate revenue, influencing its operational performance and financial health.
Peer comparison
Dec 31, 2024