National Fuel Gas Company (NFG)

Fixed asset turnover

		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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	1,944,810	1,941,689	1,952,951	2,040,273	2,173,771	2,239,970	2,313,890	2,298,349	2,186,047	2,106,889	1,998,662	1,848,057	1,742,660	1,674,661	1,603,283	1,543,263	1,546,291	1,551,643	1,585,824	1,647,273
Property, plant and equipment	US$ in thousands	7,339,200	7,410,870	7,507,510	7,421,930	7,299,860	7,080,910	6,815,730	6,698,840	6,566,480	6,385,450	6,574,380	6,490,760	6,384,280	6,185,660	6,076,070	5,991,670	5,998,070	5,621,350	5,555,870	5,646,220
Fixed asset turnover		0.26	0.26	0.26	0.27	0.30	0.32	0.34	0.34	0.33	0.33	0.30	0.28	0.27	0.27	0.26	0.26	0.26	0.28	0.29	0.29

September 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,944,810K ÷ $7,339,200K
= 0.26

The fixed asset turnover ratio for National Fuel Gas Company has shown a relatively stable trend over the past few quarters, hovering around the range of 0.26 to 0.34. This indicates that the company generates $0.26 to $0.34 in sales revenue for every dollar invested in fixed assets.

The slight fluctuations in the ratio from quarter to quarter suggest that National Fuel Gas Company's efficiency in utilizing its fixed assets to generate revenue has been relatively consistent. A fixed asset turnover ratio of around 0.3 generally indicates that the company is effectively using its fixed assets to support its sales activities.

Overall, the company's fixed asset turnover ratio indicates a moderate level of efficiency in generating sales from its fixed assets, which may be influenced by factors such as asset utilization, operational efficiency, and industry dynamics. It would be beneficial for stakeholders to continue monitoring this ratio in conjunction with other financial metrics to assess the company's operational performance and asset management efficiency over time.