Range Resources Corp (RRC)

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	3,374,418	4,063,441	4,564,257	5,152,420	4,146,796	4,083,246	3,275,345	2,484,927	2,930,223	1,962,279	1,958,985	1,900,809	1,968,697	1,975,415	2,298,515	2,773,398	2,827,615	3,294,651	3,483,431	3,288,186
Total assets	US$ in thousands	7,203,880	6,845,940	6,790,170	6,882,270	6,625,560	6,919,780	6,615,100	6,560,280	6,660,510	6,304,190	6,229,430	6,174,660	6,136,940	6,012,900	6,452,210	6,589,640	6,612,400	8,854,200	9,728,310	9,635,060
Total asset turnover		0.47	0.59	0.67	0.75	0.63	0.59	0.50	0.38	0.44	0.31	0.31	0.31	0.32	0.33	0.36	0.42	0.43	0.37	0.36	0.34

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,374,418K ÷ $7,203,880K
= 0.47

Total asset turnover is a financial ratio that measures a company's efficiency in generating revenue from its total assets. Range Resources Corp's total asset turnover has exhibited fluctuations over the past eight quarters, ranging from 0.38 to 0.75. A higher total asset turnover indicates that the company is generating more revenue from its assets.

In Q4 2023, Range Resources Corp's total asset turnover was 0.47, showing a decrease from the previous quarter. This suggests that the company is generating less revenue from its total assets in Q4 2023 compared to Q3 2023.

Over the past two years, the total asset turnover has shown some variability, with the highest ratio recorded in Q1 2023 at 0.75 and the lowest in Q1 2022 at 0.38. This indicates that Range Resources Corp's efficiency in utilizing its assets to generate revenue has fluctuated during this period.

It is essential for the company to monitor and analyze the total asset turnover ratio continuously to assess its efficiency in utilizing its assets effectively to maximize revenue generation. Further analysis and comparison with industry peers may provide additional insights into Range Resources Corp's operational efficiency and competitiveness in the market.