Viper Energy Ut (VNOM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 827,697 | 866,467 | 504,917 | 250,626 | 298,283 |
| Total assets | US$ in thousands | 3,974,090 | 2,920,370 | 3,034,020 | 2,461,380 | 2,785,630 |
| Total asset turnover | 0.21 | 0.30 | 0.17 | 0.10 | 0.11 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $827,697K ÷ $3,974,090K
= 0.21
The total asset turnover ratio of Viper Energy Ut has varied over the past five years, ranging from 0.10 to 0.30. In 2023, the ratio decreased to 0.21 from 0.30 in 2022, indicating that the company generated $0.21 in sales for every $1 of total assets. Despite the decline, the ratio remains relatively stable compared to previous years. A total asset turnover below 1 suggests that the company is not efficiently utilizing its assets to generate revenue. Further analysis and comparison with industry benchmarks may provide insights into Viper Energy Ut's asset management efficiency and its ability to generate sales from its asset base.
Peer comparison
Dec 31, 2023