EOG Resources Inc (EOG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 24,186,000 | 25,702,000 | 18,642,000 | 11,032,000 | 17,380,000 |
| Total assets | US$ in thousands | 43,857,000 | 41,371,000 | 38,236,000 | 35,805,000 | 37,125,000 |
| Total asset turnover | 0.55 | 0.62 | 0.49 | 0.31 | 0.47 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $24,186,000K ÷ $43,857,000K
= 0.55
EOG Resources, Inc.'s total asset turnover has fluctuated over the past five years, ranging from 0.31 to 0.62. The total asset turnover ratio indicates how efficiently the company generates revenue from its assets. A higher ratio implies that the company is generating more revenue per dollar of assets.
In 2023, the total asset turnover decreased to 0.55 from 0.62 in 2022. This could indicate that the company's ability to utilize its assets to generate revenue has declined slightly. However, it is still higher than the ratios from 2020 and 2019, suggesting an improvement in asset utilization efficiency compared to those years.
The 2021 ratio of 0.49 was lower than the 2020 ratio of 0.31, indicating a better performance in 2021 in terms of generating revenue from assets.
Overall, the trend in EOG Resources, Inc.'s total asset turnover ratio suggests some fluctuations in asset utilization efficiency over the years, with varying levels of effectiveness in generating revenue from its assets.
Peer comparison
Dec 31, 2023