CNX Resources Corp (CNX)
Total 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 |
| Total assets | US$ in thousands | 8,626,660 | 8,515,770 | 8,100,750 | 8,041,760 | 9,060,810 |
| Total asset turnover | 0.40 | 0.15 | 0.09 | 0.16 | 0.21 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,434,950K ÷ $8,626,660K
= 0.40
CNX Resources Corp's total asset turnover has shown variability over the past five years. The ratio ranged from a low of 0.13 in 2020 to a high of 0.46 in 2022. It decreased to 0.17 in 2019 before dropping sharply to 0.13 in 2020. This suggests that the company's ability to generate sales from its total assets has fluctuated over the years, with a noticeable improvement in 2022. A higher total asset turnover generally indicates efficiency in asset utilization, while a lower ratio may suggest underutilization of assets or declining sales generation relative to total assets. Overall, CNX Resources Corp should continue to monitor and analyze its total asset turnover to ensure optimal utilization of its assets to support revenue generation.
Peer comparison
Dec 31, 2023