Coterra Energy Inc (CTRA)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,914,000 | 9,051,000 | 3,449,000 | 1,466,000 | 2,066,000 |
| Property, plant and equipment | US$ in thousands | 17,933,000 | 17,479,000 | 17,375,000 | 4,045,000 | 3,855,710 |
| Fixed asset turnover | 0.33 | 0.52 | 0.20 | 0.36 | 0.54 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,914,000K ÷ $17,933,000K
= 0.33
Coterra Energy Inc's fixed asset turnover ratio has exhibited fluctuations over the past five years. The ratio indicates how effectively the company utilizes its fixed assets to generate revenue. In 2023, the fixed asset turnover decreased to 0.33 from 0.52 in 2022, suggesting a decline in the efficiency of generating sales from its fixed assets. This decrease may be attributed to factors such as underutilization of fixed assets or a decrease in sales relative to the value of fixed assets. The 2023 ratio is significantly lower than the ratios of 2020 and 2019, indicating a notable decline in asset turnover efficiency. Further analysis of operational processes and investment in asset management strategies may be necessary to improve the utilization of fixed assets and enhance revenue generation in the future.
Peer comparison
Dec 31, 2023