Chevron Corp (CVX)
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 | 200,949,000 | 210,242,000 | 222,806,000 | 242,672,000 | 246,252,000 | 237,908,000 | 215,974,000 | 184,809,000 | 162,465,000 | 139,582,000 | 119,323,000 | 95,220,000 | 94,692,000 | 105,796,000 | 117,461,000 | 142,817,000 | 146,516,000 | 152,518,000 | 160,389,000 | 163,775,000 |
| Total assets | US$ in thousands | 261,632,000 | 263,927,000 | 251,779,000 | 255,886,000 | 257,709,000 | 259,735,000 | 257,936,000 | 249,048,000 | 239,535,000 | 239,948,000 | 242,806,000 | 241,645,000 | 239,790,000 | 223,063,000 | 223,403,000 | 236,677,000 | 237,428,000 | 256,537,000 | 255,878,000 | 256,809,000 |
| Total asset turnover | 0.77 | 0.80 | 0.88 | 0.95 | 0.96 | 0.92 | 0.84 | 0.74 | 0.68 | 0.58 | 0.49 | 0.39 | 0.39 | 0.47 | 0.53 | 0.60 | 0.62 | 0.59 | 0.63 | 0.64 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $200,949,000K ÷ $261,632,000K
= 0.77
The total asset turnover ratio of Chevron Corp. has shown some fluctuations over the past eight quarters. It ranged from a low of 0.71 in Q1 2022 to a high of 0.91 in Q4 2022 and Q1 2023. The ratio measures how efficiently the company is generating revenue from its assets. A higher ratio indicates that the company is using its assets more efficiently to generate sales.
The trend in the total asset turnover ratio for Chevron Corp. shows some variability, with an overall uptrend from Q1 2022 to Q1 2023, followed by a slight decrease in Q2 2023. The ratio peaked in Q1 2023 at 0.91 before declining slightly in subsequent quarters.
It is important for investors and analysts to monitor changes in total asset turnover over time to assess the company's operational efficiency and effectiveness in utilizing its assets to generate revenue. Further analysis and comparison with industry benchmarks can provide additional insights into Chevron Corp.'s performance in utilizing its assets effectively.
Peer comparison
Dec 31, 2023