National Fuel Gas Company (NFG)

Total 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
Total assets	US$ in thousands	8,319,770	8,481,040	8,677,020	8,587,490	8,280,260	8,106,630	7,967,240	8,134,910	7,896,260	8,112,090	7,805,020	7,589,670	7,464,820	7,208,680	7,115,650	7,039,170	6,964,940	7,118,980	6,708,660	6,702,660
Total asset turnover		0.23	0.23	0.23	0.24	0.26	0.28	0.29	0.28	0.28	0.26	0.26	0.24	0.23	0.23	0.23	0.22	0.22	0.22	0.24	0.25

September 30, 2024 calculation

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

The total asset turnover of National Fuel Gas Company has remained relatively stable over the past few years, ranging between 0.22 to 0.29. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A total asset turnover of 0.23 to 0.29 suggests that for every dollar of assets the company has, it generates revenue between 23 cents and 29 cents.

The trend in total asset turnover shows that the company has been able to maintain a consistent level of asset efficiency over the past few years. A total asset turnover ratio around 0.23 to 0.29 is considered average, indicating that National Fuel Gas Company is effectively managing its assets to generate sales.

It is important for the company to monitor and potentially improve its total asset turnover ratio to ensure efficient use of assets in generating revenue. Overall, the company's total asset turnover ratio provides insights into its operational efficiency and asset management capabilities.