Kinder Morgan Inc (KMI)
Total 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 |
| Total assets | US$ in thousands | 71,020,000 | 70,078,000 | 70,416,000 | 71,973,000 | 74,157,000 |
| Total asset turnover | 0.22 | 0.27 | 0.24 | 0.16 | 0.18 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $15,334,000K ÷ $71,020,000K
= 0.22
The total asset turnover ratio of Kinder Morgan Inc has fluctuated over the past five years. The ratio indicates how efficiently the company is able to generate sales revenue from its total assets.
In 2023, the total asset turnover ratio was 0.22, down from 0.27 in 2022. This decrease suggests that the company was less effective in utilizing its total assets to generate sales revenue compared to the previous year.
Looking back further, in 2021 the total asset turnover was 0.24, showing a slight improvement from 0.16 in 2020 and 0.18 in 2019. While there have been fluctuations, the trend indicates that Kinder Morgan Inc has generally been able to improve its efficiency in generating sales from its total assets over the years.
It is important for the company to continue monitoring and managing its asset turnover ratio to ensure optimal utilization of resources and maximize profitability.
Peer comparison
Dec 31, 2023