Civitas Resources Inc (CIVI)

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	3,296,241	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
Total assets	US$ in thousands	14,097,300	12,841,600	10,171,000	7,675,050	7,971,400	7,688,800	7,414,430	7,033,750	6,741,030	1,937,080	1,916,180	1,208,290	1,182,810	1,148,780	1,190,230	1,264,070	1,206,320	1,199,740	1,145,340	1,103,390
Total asset turnover		0.23	0.24	0.31	0.47	0.47	0.45	0.36	0.24	0.14	0.25	0.18	0.19	0.18	0.20	0.21	0.24	0.26	0.25	0.28	0.28

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,296,241K ÷ $14,097,300K
= 0.23

The total asset turnover ratio for Civitas Resources Inc has shown fluctuations over the past eight quarters. It ranged from 0.24 to 0.48 during this period. In Q1 2022 and Q4 2023, the total asset turnover was at its lowest, indicating that the company generated $0.24 and $0.25 in sales for each dollar of total assets during those quarters.

However, there was an improvement in total asset turnover in Q2 and Q3 of 2023, reaching 0.31 and 0.25 respectively. The highest total asset turnover was observed in Q4 2022 at 0.48, suggesting that Civitas Resources Inc generated $0.48 in sales for every dollar of total assets during that quarter.

Overall, the trend in total asset turnover indicates variability in the company's efficiency in generating sales from its total assets, with fluctuations in performance throughout the analyzed quarters.