Viper Energy Ut (VNOM)

Total asset turnover

		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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	836,400	920,052	864,131	827,697	826,610	754,987	833,522	866,467	828,629	735,016	609,844	504,917	415,453	350,391	268,910	250,626	267,014	275,860	315,385	298,283
Total assets	US$ in thousands	4,206,010	3,900,420	4,012,570	3,974,090	3,143,370	2,967,040	3,019,740	2,920,370	2,985,760	2,971,980	3,001,080	3,034,020	2,482,470	2,450,160	2,441,800	2,461,380	2,600,700	2,624,270	2,679,480	2,785,630
Total asset turnover		0.20	0.24	0.22	0.21	0.26	0.25	0.28	0.30	0.28	0.25	0.20	0.17	0.17	0.14	0.11	0.10	0.10	0.11	0.12	0.11

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $836,400K ÷ $4,206,010K
= 0.20

The total asset turnover of Viper Energy Ut has fluctuated over the historical period presented. The ratio indicates how efficiently the company is using its total assets to generate revenue. A higher ratio typically signifies better asset utilization.

From the data provided, we observe that the total asset turnover ratio ranged from a low of 0.10 in December 2020 and September 2020 to a high of 0.30 in December 2022. The ratio peaked in December 2022, indicating that the company was generating more revenue per dollar of assets at that time.

Overall, the trend in total asset turnover seems to show some variability, with the ratio fluctuating between periods. It is important for stakeholders to monitor this ratio closely to assess the company's efficiency in managing its assets and generating revenue.