CNX Resources Corp (CNX)

Fixed 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 1,266,787 2,098,976 2,025,269 2,543,526 3,434,953 4,103,016 3,869,571 3,450,289 2,987,605 2,641,965 3,151,913 3,143,144 2,802,921 2,138,434 1,577,500 1,314,692 1,257,978 1,136,022 1,599,944 2,056,135
Property, plant and equipment US$ in thousands 7,384,110 7,373,370 7,383,540 7,361,560 7,342,630 7,308,650 7,239,830 7,185,940 7,096,510 7,033,640 7,012,720 6,996,120 6,989,480 6,960,320 7,008,640 7,019,760 7,025,540 7,063,140 7,083,800 7,069,100
Fixed asset turnover 0.17 0.28 0.27 0.35 0.47 0.56 0.53 0.48 0.42 0.38 0.45 0.45 0.40 0.31 0.23 0.19 0.18 0.16 0.23 0.29

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,266,787K ÷ $7,384,110K
= 0.17

Fixed asset turnover measures how efficiently a company generates revenue from its fixed assets. Looking at the data provided for CNX Resources Corp, we can see fluctuations in the fixed asset turnover ratio over the reported periods.

The fixed asset turnover ratio for CNX Resources Corp ranged from a low of 0.16 on September 30, 2020, to a high of 0.56 on September 30, 2023. Generally, a higher fixed asset turnover ratio indicates better utilization of fixed assets to generate revenue.

The trend of the fixed asset turnover ratio for CNX Resources Corp shows variability over time. There is a notable increase in the ratio from September 30, 2021, to March 31, 2024, with the ratio peaking at 0.56 on September 30, 2023. However, the ratio saw a decline in the most recent periods, dropping to 0.17 on December 31, 2024.

It is important for CNX Resources Corp to analyze the factors contributing to these fluctuations in the fixed asset turnover ratio. A decrease in the ratio may indicate underutilization of fixed assets or inefficiencies in asset management, while an increase suggests improved efficiency in generating revenue from fixed assets.

Further investigation into the company's operational performance and asset management strategies would be beneficial to understand the reasons behind the changes in the fixed asset turnover ratio and to identify opportunities for improvement in utilizing fixed assets effectively to enhance overall financial performance.