Civitas Resources Inc (CIVI)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	5,094,450	4,839,420	4,526,829	3,865,899	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
Total assets	US$ in thousands	14,944,100	15,007,800	15,041,300	15,084,000	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
Total asset turnover		0.34	0.32	0.30	0.26	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

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,094,450K ÷ $14,944,100K
= 0.34

Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its total assets. In the case of Civitas Resources Inc, the total asset turnover ratio has fluctuated over the periods provided in the JSON data. The ratio has ranged from a low of 0.14 in December 31, 2021, to a high of 0.47 in December 31, 2022 and March 31, 2023.

A total asset turnover ratio of less than 1 indicates that the company is not effectively utilizing its assets to generate sales. In the case of Civitas Resources Inc, the ratio has generally been below 1, suggesting potential inefficiencies in asset utilization. However, it is worth noting that the ratio has shown some improvement in recent periods, reaching 0.34 by December 31, 2024.

Overall, analyzing the trend of total asset turnover over the periods provided can help stakeholders assess the company's efficiency in utilizing its assets to generate revenue and identify any potential areas for improvement in operational performance.