Coterra Energy Inc (CTRA)
Total 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 |
| Total assets | US$ in thousands | 20,415,000 | 20,154,000 | 19,900,000 | 4,524,000 | 4,487,240 |
| Total asset turnover | 0.29 | 0.45 | 0.17 | 0.32 | 0.46 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,914,000K ÷ $20,415,000K
= 0.29
The total asset turnover of Coterra Energy Inc has shown fluctuations over the past five years. In 2023, the total asset turnover ratio decreased to 0.29 from 0.45 in 2022, indicating that the company generated $0.29 in revenue for every $1 of total assets. This decline may suggest a decrease in efficiency in utilizing its assets to generate sales.
Comparing to 2021 where the total asset turnover was 0.17, the improvement in 2023 could be seen as a positive sign, suggesting that the company was able to generate more revenue per dollar of assets compared to the prior year. However, the ratio is still lower than the levels seen in 2020 and 2019, indicating a potential need for Coterra Energy Inc to further optimize its asset utilization to enhance revenue generation in the future.
Peer comparison
Dec 31, 2023