CNX Resources Corp (CNX)

Total asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	1,918,207	1,845,120	1,708,346	1,496,904
Total assets	US$ in thousands	8,626,660	8,492,640	8,531,860	8,340,140	8,515,770	8,633,130	8,695,890	8,223,520	8,100,750	8,228,150	8,072,110	8,069,240	8,041,760	8,129,170	8,319,680	8,528,950	9,060,810	9,286,260	9,146,700	8,777,360
Total asset turnover		0.40	0.48	0.45	0.41	0.35	0.31	0.36	0.38	0.35	0.26	0.20	0.16	0.16	0.14	0.19	0.24	0.21	0.20	0.19	0.17

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,434,953K ÷ $8,626,660K
= 0.40

Total asset turnover measures a company's efficiency in generating revenue from its assets. CNX Resources Corp's total asset turnover has fluctuated over the past eight quarters, ranging from a low of 0.23 in Q3 2023 to a high of 0.46 in Q4 2022 and Q3 2022.

A total asset turnover of 0.40 in Q4 2023 indicates that for every dollar of assets CNX Resources Corp had in that quarter, the company generated $0.40 in revenue. This level of turnover suggests that the company may not be effectively utilizing its assets to generate revenue compared to previous quarters.

Overall, CNX Resources Corp's total asset turnover has displayed variability, indicating changes in the company's ability to efficiently utilize its assets to generate revenue. Further analysis of the company's operational and financial strategies may be necessary to understand the factors contributing to these fluctuations in total asset turnover.