EQT Corporation (EQT)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	6,908,920	7,497,690	3,064,660	3,058,840	4,416,480
Property, plant and equipment	US$ in thousands	22,950,200	18,167,300	18,418,900	16,054,300	16,155,500
Fixed asset turnover		0.30	0.41	0.17	0.19	0.27

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $6,908,920K ÷ $22,950,200K
= 0.30

Fixed asset turnover is a financial ratio used to evaluate a company's efficiency in generating revenue from its investments in fixed assets. For EQT Corp, the fixed asset turnover has been fluctuating over the past five years.

In 2023, the fixed asset turnover ratio decreased to 0.30 from the previous year's figure of 0.41. This suggests that EQT Corp was less efficient in utilizing its fixed assets to generate revenue compared to the previous year.

Looking back further, in 2021 the fixed asset turnover ratio was at a low of 0.17, indicating a significant improvement in 2022 and 2023. However, the ratio remains below the levels seen in 2020 and 2019 when it was 0.19 and 0.27, respectively.

Overall, the trend in EQT Corp's fixed asset turnover indicates fluctuations in the company's ability to generate revenue from its fixed assets, with room for improvement in efficiency. Further analysis of operating performance and investment in fixed assets would be beneficial to understand the factors driving these fluctuations in the fixed asset turnover ratio.