One Gas Inc (OGS)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,371,990 | 2,578,000 | 1,808,600 | 1,530,270 | 1,652,730 |
| Property, plant and equipment | US$ in thousands | — | 5,628,840 | 5,190,840 | 4,867,060 | 4,599,430 |
| Fixed asset turnover | — | 0.46 | 0.35 | 0.31 | 0.36 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,371,990K ÷ $—K
= —
Fixed asset turnover is a financial ratio that measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover indicates that the company is generating more revenue per dollar of fixed assets.
In the case of ONE Gas Inc, the fixed asset turnover has fluctuated over the past five years. In 2023, the fixed asset turnover was 0.39, down from 0.46 in 2022. This suggests that the company generated $0.39 of revenue for every dollar of fixed assets in 2023.
Comparing this to previous years, we see that the fixed asset turnover was highest in 2022 at 0.46 and has generally been improving since 2020 when it was 0.31. However, the ratio decreased in 2023, indicating a potential decrease in efficiency in utilizing fixed assets to generate revenue.
Further analysis would be required to understand the reasons behind this trend and whether it is indicative of a long-term issue or a temporary fluctuation in the company's operations.
Peer comparison
Dec 31, 2023