Diamondback Energy Inc (FANG)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,412,000 | 9,643,000 | 6,797,000 | 2,813,000 | 3,964,000 |
| Total current assets | US$ in thousands | 1,621,000 | 1,392,000 | 1,446,000 | 602,000 | 869,000 |
| Total current liabilities | US$ in thousands | 2,108,000 | 1,716,000 | 1,438,000 | 1,236,000 | 1,263,000 |
| Working capital turnover | — | — | 849.62 | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $8,412,000K ÷ ($1,621,000K – $2,108,000K)
= —
Based on the provided data, the working capital turnover for Diamondback Energy Inc was not available for the years ending December 31, 2023, 2022, and 2020. However, for the year ending December 31, 2021, the working capital turnover ratio was reported as 849.62. This indicates that during this specific period, Diamondback Energy managed to generate revenues nearly 849 times over its working capital.
Although the lack of data for other years limits the ability to perform a trend analysis, a high working capital turnover ratio like 849.62 suggests that the company efficiently utilized its working capital to generate sales revenue. This high turnover could be indicative of effective management of its current assets and liabilities to support its operations and sales. It's essential for Diamondback Energy to maintain efficient working capital management to sustain its operational activities and support its growth in the long term.
Peer comparison
Dec 31, 2023