California Resources Corp (CRC)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,801,000 | 2,707,000 | 1,889,000 | 2,634,000 | 3,064,000 |
| Property, plant and equipment | US$ in thousands | 2,770,000 | 2,786,000 | 2,599,000 | 6,352,000 | 6,455,000 |
| Fixed asset turnover | 1.01 | 0.97 | 0.73 | 0.41 | 0.47 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,801,000K ÷ $2,770,000K
= 1.01
Fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. California Resources Corporation's fixed asset turnover has shown an improving trend over the past three years, with values of 0.73 in 2021, 0.97 in 2022, and 1.01 in 2023.
A fixed asset turnover ratio of 1.01 in 2023 indicates that for every dollar invested in fixed assets, the company generated $1.01 in revenue. This signifies an improvement in asset utilization efficiency compared to the previous years. It shows that the company has been more effective in generating revenue from its fixed assets in 2023.
Overall, the increasing trend in fixed asset turnover suggests that California Resources Corporation has been more efficient in managing and utilizing its fixed assets to generate revenue, which is a positive indicator of the company's operational performance. However, further analysis in conjunction with other financial metrics is recommended for a comprehensive understanding of the company's financial health.
Peer comparison
Dec 31, 2023