EOG Resources Inc (EOG)

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	24,186,000	24,548,000	25,929,000	27,763,000	25,702,000	25,027,000	22,199,000	18,931,000	18,642,000	15,563,500	13,044,500	10,008,500	11,032,500	12,387,250	14,444,710	18,039,340	17,379,980	17,634,270	18,112,430	17,652,880
Total assets	US$ in thousands	43,857,000	43,647,000	41,487,000	41,025,000	41,371,000	40,487,000	38,139,000	38,097,000	38,236,000	37,172,000	36,885,000	36,171,000	35,805,000	35,074,000	35,221,700	37,634,100	37,125,000	36,542,300	35,751,500	35,663,500
Total asset turnover		0.55	0.56	0.62	0.68	0.62	0.62	0.58	0.50	0.49	0.42	0.35	0.28	0.31	0.35	0.41	0.48	0.47	0.48	0.51	0.49

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $24,186,000K ÷ $43,857,000K
= 0.55

The total asset turnover ratio for EOG Resources, Inc. has fluctuated over the past eight quarters. The ratio ranged from a low of 0.46 in Q3 2023 to a high of 0.69 in Q3 2022. This ratio measures the efficiency with which the company is generating revenue from its total assets. A higher total asset turnover ratio indicates that the company is using its assets more efficiently to generate sales.

The general trend shows that EOG Resources, Inc. experienced a decline in total asset turnover from Q3 2022 to Q3 2023. This could suggest a decrease in asset utilization efficiency during this period. However, it is important to consider other financial metrics and industry benchmarks to gain a comprehensive understanding of the company's overall performance and competitiveness.