Devon Energy Corporation (DVN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 | 6,220,000 |
| Total assets | US$ in thousands | 24,490,000 | 23,721,000 | 21,025,000 | 9,912,000 | 13,717,000 |
| Total asset turnover | 0.62 | 0.81 | 0.58 | 0.49 | 0.45 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $15,258,000K ÷ $24,490,000K
= 0.62
The total asset turnover of Devon Energy Corp. has fluctuated over the past five years, ranging from 0.45 in 2019 to 0.81 in 2022. A total asset turnover of 0.62 in 2023 indicates that the company generated approximately $0.62 in revenue for every $1 of total assets during that year.
The trend in total asset turnover suggests that Devon Energy Corp. may have improved its efficiency in utilizing its assets to generate revenue between 2019 and 2022, as the ratio increased during this period. However, the decline in total asset turnover from 2022 to 2023 may indicate a potential decrease in the company's ability to generate revenue relative to its total asset base.
Overall, Devon Energy Corp. should continue monitoring and analyzing its total asset turnover to ensure effective management of assets and optimization of revenue generation.
Peer comparison
Dec 31, 2023