Kinder Morgan Inc (KMI)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	15,334,000	19,200,000	16,610,000	11,700,000	13,209,000
Property, plant and equipment	US$ in thousands	37,297,000	35,599,000	35,653,000	35,836,000	36,419,000
Fixed asset turnover		0.41	0.54	0.47	0.33	0.36

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $15,334,000K ÷ $37,297,000K
= 0.41

Fixed asset turnover is a financial ratio that measures a company's ability to generate revenue from its investment in fixed assets. A higher ratio indicates more efficient utilization of fixed assets to generate sales.

For Kinder Morgan Inc, the fixed asset turnover ratio has fluctuated over the past five years, ranging from 0.33 to 0.54. In 2023, the ratio decreased to 0.41 from 0.54 in 2022, indicating a decrease in the company's ability to generate revenue from its fixed assets. This could be a result of changes in the company's operating efficiency or investments in new fixed assets that have not yet contributed significantly to revenue generation.

Overall, Kinder Morgan Inc's fixed asset turnover ratio indicates that the company has been moderately efficient in utilizing its fixed assets to generate sales, with fluctuations over the years suggesting varying levels of asset productivity. Further analysis would be needed to understand the specific factors impacting the company's fixed asset turnover performance.