Murphy Oil Corporation (MUR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,460,150	3,932,700	2,299,300	1,967,300	2,829,050
Total assets	US$ in thousands	9,766,700	10,309,000	10,304,900	10,620,900	11,718,500
Total asset turnover		0.35	0.38	0.22	0.19	0.24

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $3,460,150K ÷ $9,766,700K
= 0.35

Murphy Oil Corp.'s total asset turnover has exhibited fluctuating trends over the past five years. The total asset turnover ratio, which measures the company's efficiency in generating sales from its total assets, was 0.35 in 2023, indicating that for every dollar of total assets, Murphy Oil Corp. generated $0.35 in revenue. This represents a decrease from the previous year's ratio of 0.38.

The data shows that Murphy Oil Corp.'s asset turnover has experienced both increases and decreases over the years, suggesting varying levels of efficiency in asset utilization. The 2023 ratio of 0.35 is higher compared to 2020 and 2019, reflecting an improvement in the company's ability to generate sales from its assets. However, it is lower than the ratios recorded in 2021 and 2022, signifying a potential decline in asset efficiency in the most recent year.

Overall, Murphy Oil Corp.'s total asset turnover has demonstrated a mix of performance levels, highlighting the company's effectiveness in utilizing its assets to generate sales. Further analysis and comparison with industry benchmarks may provide additional insights into the company's asset management and operational efficiency.