Magnolia Oil & Gas Corp (MGY)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,226,980	1,694,490	1,078,350	541,303	942,156
Property, plant and equipment	US$ in thousands	—	1,533,030	1,216,090	1,149,530	3,120,790
Fixed asset turnover		—	1.11	0.89	0.47	0.30

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,226,980K ÷ $—K
= —

The fixed asset turnover of Magnolia Oil & Gas Corp has shown an increasing trend over the past five years, with a significant improvement from 0.30 in 2019 to 1.11 in 2022. This indicates that the company has been able to generate more revenue relative to its fixed assets during these years. A higher fixed asset turnover ratio is generally favorable as it suggests that the company is efficiently utilizing its fixed assets to generate sales. However, it is important to note that there is missing data for 2023 in the provided table, which limits the ability to assess the most recent performance. The company should continue monitoring and aiming to maintain or improve its fixed asset turnover ratio to ensure optimal utilization of its fixed assets in generating revenue.