OGE Energy Corporation (OGE)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,674,300	3,375,700	3,653,700	2,122,300	2,231,600
Total assets	US$ in thousands	12,790,700	12,544,700	12,606,400	10,718,800	11,024,300
Total asset turnover		0.21	0.27	0.29	0.20	0.20

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,674,300K ÷ $12,790,700K
= 0.21

Oge Energy Corp.'s total asset turnover has fluctuated over the past five years, with values ranging from 0.20 to 0.29. The total asset turnover ratio indicates the company's efficiency in generating revenues relative to its total assets. A higher total asset turnover ratio typically implies that the company is utilizing its assets more efficiently to generate sales.

In 2023, the total asset turnover ratio decreased to 0.21 from 0.27 in 2022, indicating a decline in the company's ability to generate sales from its total assets. This could be a cause for concern as it suggests a potential decrease in efficiency in asset utilization or a decline in sales relative to the total asset base.

Comparing this to the peak ratio of 0.29 in 2021, there was a noticeable drop in asset turnover efficiency. However, it is also worth noting that the ratio remained within the range observed in the previous years. The ratio in 2020 and 2019 stood at 0.20, indicating that the company's efficiency in asset utilization was relatively consistent during those years.

Overall, the trend in Oge Energy Corp.'s total asset turnover suggests some variability in asset utilization efficiency over the years, with the 2023 ratio showing a significant decline compared to prior periods. Further analysis of the company's operations and financial performance may be necessary to understand the underlying factors driving these fluctuations in total asset turnover.