CVR Energy Inc (CVI)
Total 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 |
| Total assets | US$ in thousands | 4,707,000 | 4,421,000 | 4,217,000 | 4,208,000 | 4,119,000 | 4,206,000 | 4,671,000 | 4,345,000 | 3,906,000 | 3,872,000 | 3,798,000 | 4,188,000 | 3,978,000 | 3,876,000 | 3,928,000 | 4,125,000 | 3,905,000 | 3,962,000 | 3,830,000 | 3,874,000 |
| Total asset turnover | 1.96 | 2.20 | 2.35 | 2.57 | 2.65 | 2.46 | 2.04 | 1.88 | 1.85 | 1.61 | 1.41 | 1.02 | 0.99 | 1.13 | 1.27 | 1.46 | 1.63 | 1.65 | 1.79 | 1.83 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,246,000K ÷ $4,707,000K
= 1.96
The total asset turnover ratio measures how efficiently a company utilizes its total assets to generate revenue. In the case of CVR Energy Inc, the total asset turnover has shown fluctuations over the past eight quarters, ranging from 1.88 to 2.65.
The trend indicates that CVR Energy Inc has been able to improve its asset utilization efficiency over time, as the ratio has generally been increasing. This suggests that the company is generating more revenue per dollar of total assets.
A higher total asset turnover ratio is generally favorable as it implies that the company is effectively utilizing its assets to generate sales. It also indicates operational efficiency and effective management of assets.
However, fluctuations in the total asset turnover ratio may also reflect changes in the company's business operations, investment decisions, or industry conditions. It is important to assess the trend in conjunction with other financial metrics and industry benchmarks for a comprehensive analysis of CVR Energy Inc's operational performance.
Peer comparison
Dec 31, 2023