ConocoPhillips (COP)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 56,141,000 | 78,494,000 | 45,828,000 | 18,784,000 | 36,670,000 |
| Total assets | US$ in thousands | 95,924,000 | 93,829,000 | 90,661,000 | 62,618,000 | 70,514,000 |
| Total asset turnover | 0.59 | 0.84 | 0.51 | 0.30 | 0.52 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $56,141,000K ÷ $95,924,000K
= 0.59
The total asset turnover ratio for Conoco Phillips has fluctuated over the past five years. It stood at 0.59 in 2023, indicating that for every $1 of assets the company generated $0.59 in revenue.
Compared to the previous year, the total asset turnover decreased from 0.84 in 2022 to 0.59 in 2023, suggesting a decline in the efficiency of utilizing its assets to generate revenue.
In 2021, the total asset turnover was 0.51, showing that the company generated $0.51 in revenue for each dollar of assets. This was an improvement from 2020 when the ratio was 0.30, indicating an increase in asset utilization efficiency.
In 2019, the total asset turnover was 0.46, which indicates that the company generated $0.46 in revenue for every dollar of assets.
Overall, Conoco Phillips has experienced fluctuations in its total asset turnover ratio over the past five years, reflecting changes in the company's efficiency in generating revenue from its total assets.
Peer comparison
Dec 31, 2023