CVR Energy Inc (CVI)

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	9,246,000	9,724,000	9,901,000	10,809,000	10,896,000	10,329,000	9,513,000	8,152,000	7,242,000	6,248,000	5,370,000	4,262,000	3,929,000	4,379,000	4,996,000	6,008,000	6,364,000	6,533,000	6,846,000	7,074,000
Property, plant and equipment	US$ in thousands	2,221,000	2,227,000	2,235,000	2,241,000	2,247,000	2,267,000	2,252,000	2,269,000	2,273,000	2,291,000	2,304,000	2,278,000	2,240,000	2,267,000	2,294,000	2,325,000	2,336,000	2,356,000	2,376,000	2,418,000
Fixed asset turnover		4.16	4.37	4.43	4.82	4.85	4.56	4.22	3.59	3.19	2.73	2.33	1.87	1.75	1.93	2.18	2.58	2.72	2.77	2.88	2.93

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $9,246,000K ÷ $2,221,000K
= 4.16

Fixed asset turnover is a financial ratio that measures how efficiently a company generates sales revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its fixed assets more effectively to generate sales.

Analyzing the fixed asset turnover of CVR Energy Inc over the last 8 quarters reveals a fluctuating trend. The ratio has exhibited variability, ranging from a low of 3.59 in Q1 2022 to a high of 4.85 in Q4 2022.

In general, the company's fixed asset turnover has shown an upward trend from Q1 2022 to Q1 2023, indicating an improvement in the efficiency of utilizing fixed assets to generate sales. However, this trend was interrupted by a slight decrease in Q2 2023.

The recent ratios of 4.16 in Q4 2023, 4.37 in Q3 2023, and 4.43 in Q2 2023 suggest that CVR Energy Inc has been effectively utilizing its fixed assets to generate sales revenue during these quarters.

Overall, CVR Energy Inc's fixed asset turnover ratio has demonstrated positive performance, with the company effectively leveraging its fixed assets to drive sales growth. That said, it is important to continue monitoring this ratio to ensure sustained efficiency in asset utilization over time.