CNX Resources Corp (CNX)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	1,266,790	3,434,950	1,261,210	756,792	1,257,980
Property, plant and equipment	US$ in thousands	7,384,110	7,342,630	7,096,510	6,989,480	7,025,540
Fixed asset turnover		0.17	0.47	0.18	0.11	0.18

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,266,790K ÷ $7,384,110K
= 0.17

CNX Resources Corp's fixed asset turnover ratio has shown fluctuation over the past five years. In December 2020, the ratio was 0.18, indicating that the company generated $0.18 in revenue for every dollar invested in fixed assets. Subsequently, in December 2021, the ratio decreased to 0.11, suggesting a decline in the efficiency of utilizing fixed assets to generate sales.

However, there was a notable improvement in December 2023, with the fixed asset turnover ratio increasing to 0.47, signaling that CNX Resources Corp significantly enhanced its ability to generate revenue from its fixed assets during that period. In December 2024, the ratio dropped back down to 0.17, returning closer to its previous levels.

Overall, the fixed asset turnover ratio for CNX Resources Corp has shown variability, indicating different levels of efficiency in utilizing fixed assets to drive revenue generation over the past five years. It is essential for the company to consistently monitor and optimize its fixed asset utilization to sustain and improve its operational efficiency.