ONEOK Inc (OKE)
Total 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 |
| Total assets | US$ in thousands | 44,266,000 | 24,379,000 | 23,621,600 | 23,078,800 | 21,812,100 |
| Total asset turnover | 0.38 | 0.92 | 0.70 | 0.37 | 0.47 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $16,811,000K ÷ $44,266,000K
= 0.38
Total asset turnover measures how efficiently a company generates revenue from its assets. A higher total asset turnover indicates better asset utilization. Oneok Inc.'s total asset turnover has been fluctuating over the past five years. In 2023, the total asset turnover decreased significantly to 0.40 from 0.92 in 2022, suggesting a decline in the company's ability to generate revenue from its assets efficiently. This could be attributed to changes in business operations, asset composition, or revenue generation strategies. Further investigation into the underlying reasons for this decline would be necessary to evaluate its impact on the company's overall financial performance.
Peer comparison
Dec 31, 2023