California Resources Corp (CRC)

Fixed 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	2,801,000	2,757,000	3,422,000	3,578,000	2,707,000	2,659,000	2,122,000	1,679,000	1,889,000	1,407,000	1,228,000	1,200,000	1,410,000	1,868,000	2,140,000	2,517,000	2,634,000	3,102,000	3,249,000	3,145,000
Property, plant and equipment	US$ in thousands	2,770,000	2,722,000	2,745,000	2,764,000	2,786,000	2,734,000	2,675,000	2,643,000	2,599,000	2,587,000	2,573,000	2,624,000	2,654,000	4,359,000	4,448,000	4,538,000	6,352,000	6,403,000	6,409,000	6,548,000
Fixed asset turnover		1.01	1.01	1.25	1.29	0.97	0.97	0.79	0.64	0.73	0.54	0.48	0.46	0.53	0.43	0.48	0.55	0.41	0.48	0.51	0.48

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,801,000K ÷ $2,770,000K
= 1.01

The fixed asset turnover ratio of California Resources Corporation has been relatively stable over the past five quarters, ranging from 0.97 to 1.29. This ratio indicates that the company generates $1.01 to $1.29 in revenue for every dollar invested in fixed assets. The increase in the fixed asset turnover ratio from Q4 2022 to Q2 2023 suggests improved efficiency in utilizing fixed assets to generate revenue. However, the ratio decreased slightly in Q3 and Q4 2023, which may indicate a slowdown in productivity or a change in the company's asset base. Overall, the relatively consistent performance in fixed asset turnover indicates that California Resources Corporation has been effectively leveraging its fixed assets to generate revenue during the analyzed quarters.