Texas Pacific Land Trust (TPL)
Total asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 659,375 | 631,595 | 617,644 | 650,788 | 666,449 | 667,422 | 661,894 | 594,476 | 514,138 | 450,958 | 378,084 | |||
| Total assets | US$ in thousands | 1,259,170 | 1,156,400 | 1,079,320 | 1,001,320 | 955,251 | 877,427 | 828,974 | 764,708 | 856,569 | 764,064 | 695,617 | 633,843 | 613,802 | 571,635 |
| Total asset turnover | 0.52 | 0.55 | 0.57 | 0.65 | 0.70 | 0.76 | 0.80 | 0.78 | 0.60 | 0.59 | 0.54 |
March 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $659,375K ÷ $1,259,170K
= 0.52
The total asset turnover of Texas Pacific Land Trust has exhibited fluctuations over the past several quarters. The ratio indicates how effectively the company generates revenue per dollar of assets.
The total asset turnover decreased from 0.76 in Dec 31, 2022, to 0.52 in Mar 31, 2024. This suggests that the company may be less efficient in utilizing its assets to generate sales revenue. However, it is worth noting that there was an improvement in the ratio during the Sep 30, 2023, quarter to 0.57, indicating a temporary increase in asset utilization efficiency.
Overall, the trend in total asset turnover for Texas Pacific Land Trust has been somewhat volatile, with fluctuations observed across various quarters. Further analysis of the company's operational performance and asset management strategies may be needed to understand the underlying factors influencing these fluctuations in asset turnover.