Par Pacific Holdings Inc (PARR)

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	8,174,420	7,803,130	7,283,650	7,602,180	7,263,690	6,745,960	5,998,020	5,106,960	4,643,589	4,081,364	3,458,832	2,757,379	3,072,260	3,755,885	4,466,717	5,356,960	5,344,170	4,824,152	4,340,218	3,796,940
Total assets	US$ in thousands	3,863,950	3,888,750	3,609,970	3,327,430	3,280,650	3,107,100	3,245,340	2,920,440	2,570,250	2,521,000	2,524,380	2,502,470	2,133,860	2,272,410	2,224,800	2,140,920	2,700,560	2,652,880	2,672,410	2,648,100
Total asset turnover		2.12	2.01	2.02	2.28	2.21	2.17	1.85	1.75	1.81	1.62	1.37	1.10	1.44	1.65	2.01	2.50	1.98	1.82	1.62	1.43

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,174,420K ÷ $3,863,950K
= 2.12

Total asset turnover is a measure of how efficiently a company is utilizing its assets to generate revenue. Par Pacific Holdings Inc's total asset turnover has shown some fluctuations over the past eight quarters, ranging from 1.77 to 2.30. These fluctuations indicate changes in the company's ability to generate sales relative to its level of assets.

Overall, the average total asset turnover for the period is 2.05, indicating that, on average, the company generates $2.05 in revenue for every dollar of assets. This suggests that Par Pacific Holdings Inc has been effectively utilizing its assets to generate sales.

The upward trend in total asset turnover from Q2 2022 to Q1 2023 suggests improved efficiency in asset utilization. However, the subsequent slight decline in Q2 and Q3 of 2023 indicates a potential decrease in the company's ability to generate revenue relative to its assets during those periods.

Further analysis should be conducted to understand the specific factors driving the changes in total asset turnover and to assess the company's overall operational efficiency and financial performance.