CVR Energy Inc (CVI)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 9,247,000 | 10,896,000 | 7,242,000 | 3,930,000 | 6,364,000 |
| Property, plant and equipment | US$ in thousands | 2,221,000 | 2,247,000 | 2,273,000 | 2,240,000 | 2,336,000 |
| Fixed asset turnover | 4.16 | 4.85 | 3.19 | 1.75 | 2.72 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $9,247,000K ÷ $2,221,000K
= 4.16
Fixed asset turnover measures how efficiently a company utilizes its fixed assets to generate revenue. A higher fixed asset turnover indicates better efficiency in utilizing fixed assets to generate sales. In the case of CVR Energy Inc, the fixed asset turnover has fluctuated over the past five years.
In 2023, the fixed asset turnover ratio was 4.16, showing a decrease from the previous year. This could indicate a decrease in the efficiency of the company in generating sales from its fixed assets compared to the prior year.
In 2022, the fixed asset turnover was 4.85, which was higher compared to the previous year, indicating improved efficiency in utilizing fixed assets to generate revenue.
In 2021, the fixed asset turnover was 3.19, showing a decrease from the prior year. This could signify a decrease in efficiency in utilizing fixed assets to generate sales.
In 2020, the fixed asset turnover ratio was 1.75, indicating a significant improvement from the previous year. This may suggest that the company was able to generate more revenue from its fixed assets compared to the prior year.
In 2019, the fixed asset turnover ratio was 2.72, showing a decrease from the previous year. This could imply a decline in the efficiency of utilizing fixed assets to generate revenue.
Overall, the fluctuation in the fixed asset turnover ratios of CVR Energy Inc over the past five years indicates varying levels of efficiency in generating revenue from fixed assets. Further analysis of the company's operational and financial performance would provide additional insights into the factors driving these fluctuations.
Peer comparison
Dec 31, 2023