Devon Energy Corporation (DVN)

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	15,258,000	15,412,000	17,008,000	19,180,000	19,169,000	19,143,000	17,177,000	13,968,000	12,206,000	9,213,000	6,814,000	4,791,000	4,828,000	5,137,000	5,816,000	7,228,000	6,220,000	8,161,000	8,389,000	8,310,000
Total assets	US$ in thousands	24,490,000	24,241,000	23,355,000	23,420,000	23,721,000	23,557,000	23,194,000	21,778,000	21,025,000	21,057,000	20,065,000	20,457,000	9,912,000	10,326,000	10,357,000	11,144,000	13,717,000	14,394,000	16,649,000	18,077,000
Total asset turnover		0.62	0.64	0.73	0.82	0.81	0.81	0.74	0.64	0.58	0.44	0.34	0.23	0.49	0.50	0.56	0.65	0.45	0.57	0.50	0.46

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $15,258,000K ÷ $24,490,000K
= 0.62

Devon Energy Corp.'s total asset turnover has shown some variability over the past eight quarters. The ratio has ranged from 0.62 to 0.82 during this period. It reached its highest point in Q1 2023 at 0.82 and its lowest point in Q4 2023 at 0.62. Generally, a higher total asset turnover indicates that the company is efficiently utilizing its assets to generate revenue. However, the fluctuating nature of Devon Energy Corp.'s total asset turnover suggests that there may be some inconsistency in how effectively the company is utilizing its assets to generate sales. Further analysis should be conducted to understand the reasons behind these fluctuations and to assess the overall efficiency of the company's asset management.