Coterra Energy Inc (CTRA)

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	5,914,000	6,598,000	7,762,000	9,149,000	9,051,000	8,996,000	6,916,000	4,668,000	3,449,000	1,680,778	1,531,819	1,540,167	1,466,624	1,471,214	1,609,284	1,811,053	2,066,277	2,321,210	2,437,272	2,356,602
Property, plant and equipment	US$ in thousands	17,933,000	17,928,000	17,801,000	17,682,000	17,479,000	17,429,000	17,407,000	17,346,000	17,375,000	4,225,910	4,150,790	4,075,430	4,045,000	4,034,680	4,002,490	3,920,500	3,855,710	3,787,580	3,699,580	3,574,620
Fixed asset turnover		0.33	0.37	0.44	0.52	0.52	0.52	0.40	0.27	0.20	0.40	0.37	0.38	0.36	0.36	0.40	0.46	0.54	0.61	0.66	0.66

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,914,000K ÷ $17,933,000K
= 0.33

The fixed asset turnover of Coterra Energy Inc has fluctuated over the past eight quarters. The ratio has ranged from a low of 0.27 in Q1 2022 to a high of 0.52 in Q4 2022, with subsequent fluctuations in between. A fixed asset turnover below 1 indicates that the company is generating less revenue per dollar of fixed assets, which may suggest inefficiency in asset utilization. However, the trend seems to have improved from Q1 2022 to Q4 2023, indicating a potential increase in asset productivity over time. Further analysis of the company's operational efficiency and capital expenditure trends would be necessary to fully understand the factors driving these fluctuations in fixed asset turnover.