One Gas Inc (OGS)

Total asset turnover

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,371,987	4,395,540	4,419,087	4,449,948	4,389,267	3,614,217	3,528,777	3,415,448	3,069,282	2,792,212	2,762,929	2,720,570	2,623,445	2,745,795	2,749,718	2,543,620	2,364,742	1,129,508	1,119,225	1,344,557
Total assets	US$ in thousands	7,770,990	7,432,450	7,335,120	7,420,250	7,776,400	7,321,510	8,411,410	8,467,630	8,402,120	8,133,920	8,183,650	8,679,900	6,028,710	5,763,760	5,681,610	5,674,900	5,708,300	5,533,180	5,446,610	5,524,290
Total asset turnover		0.31	0.59	0.60	0.60	0.56	0.49	0.42	0.40	0.37	0.34	0.34	0.31	0.44	0.48	0.48	0.45	0.41	0.20	0.21	0.24

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,371,987K ÷ $7,770,990K
= 0.31

The total asset turnover ratio for ONE Gas Inc has shown a fluctuating trend over the past eight quarters. The ratio ranged from 0.25 to 0.36 during this period, indicating how efficiently the company generates sales revenue from its total assets.

In Q4 2023, the total asset turnover was 0.31, which was a slight decrease compared to the previous quarter. This suggests that the company generated $0.31 in sales for every dollar of total assets during that quarter.

The highest total asset turnover was recorded in Q2 and Q1 of 2023, both at 0.36, indicating an improvement in asset utilization efficiency during those periods. However, this ratio began to decline in the following quarters.

Overall, the varying total asset turnover ratios suggest that ONE Gas Inc may have experienced fluctuations in its sales relative to its total asset base. Further analysis of the company's operational efficiency and asset management practices may be warranted to fully understand the factors driving these fluctuations.