National Fuel Gas Company (NFG)

Total asset turnover

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Revenue	US$ in thousands	1,944,810	2,173,770	2,186,050	1,742,660	1,546,290
Total assets	US$ in thousands	8,319,770	8,280,260	7,896,260	7,464,820	6,964,940
Total asset turnover		0.23	0.26	0.28	0.23	0.22

September 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,944,810K ÷ $8,319,770K
= 0.23

National Fuel Gas Company's total asset turnover has fluctuated over the past five years. The ratio measures the company's ability to generate revenue relative to its total assets. A lower total asset turnover indicates that the company is generating less revenue for each dollar of assets, which could suggest inefficiencies in asset utilization.

In 2024, the total asset turnover decreased to 0.23, compared to 0.26 in 2023 and 0.28 in 2022. This decline may raise concerns about the company's ability to efficiently utilize its assets to generate revenue. It is worth noting that in 2021 and 2020, the total asset turnover was 0.23 and 0.22, respectively, indicating a pattern of relatively low asset turnover in recent years.

Overall, a downward trend in total asset turnover could indicate a need for National Fuel Gas Company to evaluate and improve its asset management and revenue generation strategies to enhance overall efficiency and financial performance.