ConocoPhillips (COP)

Total 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	55,276,000	55,684,000	56,330,000	55,093,000	56,056,000	59,970,000	66,733,000	75,543,000	78,494,000	75,056,000	65,369,000	53,764,000	45,828,000	36,199,000	29,259,000	22,452,000	18,784,000	21,001,000	24,371,000	29,575,000
Total assets	US$ in thousands	122,780,000	96,699,000	95,994,000	95,348,000	95,924,000	93,651,000	89,605,000	91,441,000	93,829,000	94,837,000	93,693,000	93,308,000	90,661,000	87,304,000	85,403,000	62,618,000	62,618,000	63,157,000	63,046,000	65,033,000
Total asset turnover		0.45	0.58	0.59	0.58	0.58	0.64	0.74	0.83	0.84	0.79	0.70	0.58	0.51	0.41	0.34	0.36	0.30	0.33	0.39	0.45

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $55,276,000K ÷ $122,780,000K
= 0.45

ConocoPhillips' total asset turnover has shown a fluctuating trend over the past few years. The ratio decreased from 0.45 as of March 31, 2020, to 0.30 by December 31, 2020, indicating a decline in the efficiency of utilizing its total assets to generate revenue. However, there was a gradual improvement from 0.30 in December 2020 to 0.84 by December 31, 2022, suggesting a better utilization of assets.

Subsequently, the total asset turnover ratio fluctuated between 0.58 and 0.74 from March 31, 2023, to June 30, 2023, before decreasing slightly to 0.58 by December 31, 2024. Overall, the total asset turnover ratio for ConocoPhillips ranged between 0.30 and 0.84, indicating varying levels of efficiency in generating revenue from its total assets during the period under review. It will be important to continue monitoring this ratio to assess the company's future performance in asset utilization.