Crescent Energy Co (CRGY)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	2,646,661	2,538,498	2,346,426	2,358,036	2,480,668	2,718,370	3,140,656	3,277,012	2,947,635
Total assets	US$ in thousands	9,250,430	7,480,820	6,797,920	6,803,340	6,986,430	6,148,260	6,111,710	6,019,850	6,229,590	6,273,670	6,174,490	5,157,460
Total asset turnover		0.29	0.34	0.35	0.35	0.36	0.44	0.51	0.54	0.47

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,646,661K ÷ $9,250,430K
= 0.29

Total asset turnover measures a company's ability to generate sales from its assets. A higher total asset turnover ratio indicates more efficiency in asset utilization. Analyzing Crescent Energy Co's total asset turnover over the recent quarters, the ratio has been gradually decreasing from 0.54 in December 2022 to 0.29 in September 2024.

The declining trend in total asset turnover suggests that Crescent Energy Co may be less efficient in generating sales relative to its assets over the period. It could indicate potential inefficiencies in asset management or decreasing revenue generation capacity. Further investigation into the company's operational and financial performance is necessary to understand the factors contributing to this trend and to identify opportunities for improvement.