CNX Resources Corp (CNX)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,434,950 | 1,261,210 | 756,792 | 1,257,980 | 1,922,450 |
| Property, plant and equipment | US$ in thousands | 7,342,630 | 7,096,510 | 6,989,480 | 7,025,540 | 7,136,580 |
| Fixed asset turnover | 0.47 | 0.18 | 0.11 | 0.18 | 0.27 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,434,950K ÷ $7,342,630K
= 0.47
The fixed asset turnover ratio for CNX Resources Corp has shown fluctuations over the past five years. In 2023, the ratio stands at 0.47, indicating that the company generated $0.47 in revenue for every dollar invested in fixed assets. This is a slight decrease compared to 2022 when the ratio was 0.55.
The trend for fixed asset turnover has been inconsistent, with the ratio fluctuating between 0.15 in 2020 to 0.55 in 2022. A higher fixed asset turnover ratio generally indicates better efficiency in utilizing fixed assets to generate sales.
The decrease in the fixed asset turnover ratio in 2023 compared to the previous year may suggest a potential decrease in efficiency in generating revenue from fixed assets. Further analysis is needed to understand the reasons behind this shift and evaluate the company's asset management strategies.
Peer comparison
Dec 31, 2023