ONEOK Inc (OKE)
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 | 17,157,000 | 17,259,030 | 19,198,560 | 21,462,560 | 22,386,560 | 22,775,020 | 21,397,670 | 18,790,630 | 16,540,310 | 13,690,400 | 11,328,480 | 9,600,250 | 8,542,240 | 8,635,270 | 8,724,240 | 9,521,090 | 10,164,380 | 10,637,470 | 11,768,130 | 12,271,080 |
| Total assets | US$ in thousands | 44,266,000 | 43,939,000 | 24,038,000 | 24,464,000 | 24,379,000 | 24,439,000 | 24,527,000 | 23,993,000 | 23,621,600 | 23,872,300 | 23,437,200 | 23,179,900 | 23,078,800 | 22,780,900 | 22,992,500 | 21,969,400 | 21,812,100 | 21,335,900 | 19,751,600 | 18,934,300 |
| Total asset turnover | 0.39 | 0.39 | 0.80 | 0.88 | 0.92 | 0.93 | 0.87 | 0.78 | 0.70 | 0.57 | 0.48 | 0.41 | 0.37 | 0.38 | 0.38 | 0.43 | 0.47 | 0.50 | 0.60 | 0.65 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $17,157,000K ÷ $44,266,000K
= 0.39
Oneok Inc.'s total asset turnover has shown fluctuation over the past eight quarters. The metric ranged from a low of 0.40 in Q4 2023 and Q3 2023, to a high of 0.93 in Q3 2022. This indicator reflects the company's ability to generate revenue in relation to its total assets. A higher total asset turnover ratio indicates that the company is more efficient in utilizing its assets to generate sales.
The company's total asset turnover was relatively consistent in Q4 2022 and Q1 2022, with values of 0.92 and 0.78 respectively. However, there was a noticeable increase in Q2 2023, where the ratio jumped to 0.80 before reaching 0.88 in Q1 2023. This improvement suggests that Oneok Inc. may have enhanced its asset management strategies or increased its sales volume during these periods.
Overall, although there have been fluctuations in Oneok Inc.'s total asset turnover, the company has maintained a range between 0.40 and 0.93 over the last eight quarters. Further analysis and comparison with industry benchmarks would provide a clearer understanding of the company's operational efficiency and asset utilization.
Peer comparison
Dec 31, 2023