One Gas Inc (OGS)

Total 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
Total assets	US$ in thousands	7,770,990	7,776,400	8,402,120	6,028,710	5,708,300
Total asset turnover		0.31	0.33	0.22	0.25	0.29

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,371,990K ÷ $7,770,990K
= 0.31

The total asset turnover ratio for ONE Gas Inc has shown a fluctuating trend over the past five years. In 2023, the total asset turnover ratio stands at 0.31, indicating that the company generated $0.31 in revenue for every $1 of total assets during the year. This represents a slight decrease from the previous year's ratio of 0.33.

Comparing to historical data, the total asset turnover ratio has shown variability, with the ratio ranging from 0.22 in 2021 to 0.33 in 2022. This suggests that the company's efficiency in utilizing its total assets to generate revenue has not been consistent over the years.

Overall, a total asset turnover ratio of 0.31 in 2023 indicates that ONE Gas Inc may need to focus on optimizing its asset utilization to improve revenue generation efficiency. It is important for the company to analyze the factors contributing to the fluctuations in this ratio and implement strategies to enhance asset turnover in order to drive profitability and sustainability in the long term.