ONEOK Inc (OKE)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 16,811,000 | 22,386,900 | 16,540,300 | 8,542,240 | 10,164,400 |
| Property, plant and equipment | US$ in thousands | 32,697,000 | 19,952,000 | 19,319,900 | 19,154,900 | 18,348,700 |
| Fixed asset turnover | 0.51 | 1.12 | 0.86 | 0.45 | 0.55 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $16,811,000K ÷ $32,697,000K
= 0.51
Oneok Inc.'s fixed asset turnover ratio has exhibited fluctuating trends over the past five years. The ratio decreased from 0.55 in 2019 to 0.45 in 2020, indicating a decline in the efficiency of generating sales from fixed assets. However, in 2021, the fixed asset turnover ratio improved to 0.86, suggesting a better utilization of fixed assets to generate revenue.
In 2022, there was a significant increase in the fixed asset turnover ratio to 1.12, indicating a substantial improvement in the company's ability to generate sales from its fixed assets. However, this improvement was not sustained as the ratio decreased to 0.54 by the end of 2023.
Overall, the fluctuating nature of Oneok Inc.'s fixed asset turnover ratio suggests varying degrees of efficiency in utilizing fixed assets to generate revenue over the five-year period. Efforts to maintain or improve the levels of fixed asset turnover could lead to enhanced operational efficiency and profitability for the company.
Peer comparison
Dec 31, 2023