Magnolia Oil & Gas Corp (MGY)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,226,979	1,253,393	1,420,678	1,625,036	1,694,493	1,677,604	1,479,683	1,247,084	1,078,352	902,231	738,256	569,045	541,303	620,995	744,727	904,846	942,155	961,486	894,850	851,879
Property, plant and equipment	US$ in thousands	—	1,682,460	1,599,500	1,582,250	1,533,030	1,374,850	1,319,580	1,248,490	1,216,090	1,195,880	1,171,630	1,147,800	1,149,530	1,169,950	1,181,420	1,209,610	3,120,790	2,710	1,871	179
Fixed asset turnover		—	0.74	0.89	1.03	1.11	1.22	1.12	1.00	0.89	0.75	0.63	0.50	0.47	0.53	0.63	0.75	0.30	354.79	478.27	4,759.10

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,226,979K ÷ $—K
= —

Fixed asset turnover is a financial ratio that measures a company's ability to generate revenue from its fixed assets during a specific period. A higher fixed asset turnover ratio indicates that the company is using its fixed assets more efficiently to generate sales.

Based on the data provided for Magnolia Oil & Gas Corp, the fixed asset turnover ratio has fluctuated over the years. The ratio ranged from a low of 0.30 in March 2020 to a high of 4,759.10 in March 2019. This wide range suggests significant variability in the company's utilization of its fixed assets to generate revenue.

In recent quarters, the fixed asset turnover ratio has been relatively stable, ranging from 0.74 to 1.11. This indicates that the company has been moderately effective in generating revenue from its fixed assets during these periods. A ratio above 1 suggests that Magnolia Oil & Gas Corp is efficiently utilizing its fixed assets to generate sales. However, the downward trend from 1.22 in September 2022 to 0.74 in December 2023 may indicate a decrease in efficiency in utilizing fixed assets during the most recent quarter.

Overall, Magnolia Oil & Gas Corp's fixed asset turnover ratio reflects its ability to generate revenue from its fixed assets, and management may need to closely monitor this ratio to ensure optimal utilization of assets in the future.