SM Energy Co (SM)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	2,673,896	2,444,895	2,440,981	2,352,981	2,363,889	2,426,282	2,614,141	3,057,963	3,345,906	3,529,024	3,461,705	3,035,177	2,620,302	2,088,226	1,609,002	1,214,694	1,126,582	1,257,437	1,366,739	1,604,108
Total assets	US$ in thousands	8,576,650	8,027,770	6,657,010	6,398,460	6,379,980	6,078,570	5,992,630	5,870,160	5,716,040	5,651,510	5,339,120	5,395,780	5,233,980	5,061,960	5,053,000	5,015,640	4,976,430	5,122,280	5,267,630	5,615,020
Total asset turnover		0.31	0.30	0.37	0.37	0.37	0.40	0.44	0.52	0.59	0.62	0.65	0.56	0.50	0.41	0.32	0.24	0.23	0.25	0.26	0.29

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,673,896K ÷ $8,576,650K
= 0.31

Total asset turnover for SM Energy Co has shown a fluctuating trend over the given periods. Starting from 0.29 in March 31, 2020, the ratio decreased to 0.23 by December 31, 2020, indicating a decrease in the company's ability to generate sales from its assets. However, there was an improvement in total asset turnover from March 31, 2021, reaching its peak at 0.65 on June 30, 2022. This suggests that the company became more efficient in utilizing its assets to generate revenue during this period.

Subsequently, total asset turnover declined gradually to 0.30 by September 30, 2024. Overall, the ratio has exhibited both upward and downward movements, highlighting fluctuations in the company's asset utilization efficiency over the analyzed time frame. Further investigation into the underlying factors driving these fluctuations would provide insights into SM Energy Co's operational performance and efficiency in generating revenue from its total assets.