Magnolia Oil & Gas Corp (MGY)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,315,886	1,311,905	1,294,448	1,238,014	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
Total assets	US$ in thousands	2,820,840	2,810,960	2,842,860	2,807,940	2,756,220	2,652,490	2,566,720	2,576,050	2,572,580	2,300,640	2,086,790	1,794,610	1,746,740	1,585,780	1,498,340	1,455,850	1,453,420	1,434,280	1,413,080	1,490,830
Total asset turnover		0.47	0.47	0.46	0.44	0.45	0.47	0.55	0.63	0.66	0.73	0.71	0.69	0.62	0.57	0.49	0.39	0.37	0.43	0.53	0.61

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,315,886K ÷ $2,820,840K
= 0.47

The total asset turnover ratio for Magnolia Oil & Gas Corp has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio, which measures the efficiency of the company in generating sales from its assets, started at 0.61 in March 2020, indicating that the company generated $0.61 in sales for every dollar of assets.

Subsequently, there was a decline in the ratio to 0.37 by December 31, 2020, suggesting a decrease in asset efficiency. The ratio gradually increased over the next few quarters, reaching 0.73 by September 30, 2022, reflecting improved asset utilization.

However, the ratio declined again to 0.44 by March 31, 2024, before stabilizing around 0.47 from September 30, 2024, to December 31, 2024. Overall, the trend in total asset turnover indicates variability in the company's ability to generate sales from its assets efficiently, with periods of both improvement and decline in asset utilization.