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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. California Resources's Revenue for the three months ended in Dec. 2023 was $607 Mil. California Resources's Total Assets for the quarter that ended in Dec. 2023 was $3,975 Mil. Therefore, California Resources's Asset Turnover for the quarter that ended in Dec. 2023 was 0.15.
Asset Turnover is linked to ROE % through Du Pont Formula. California Resources's annualized ROE % for the quarter that ended in Dec. 2023 was 35.23%. It is also linked to ROA % through Du Pont Formula. California Resources's annualized ROA % for the quarter that ended in Dec. 2023 was 18.92%.
The historical data trend for California Resources's Asset Turnover can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
California Resources Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Asset Turnover | Get a 7-Day Free Trial | 0.38 | - | 0.74 | 0.83 | 0.71 |
California Resources Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Asset Turnover | Get a 7-Day Free Trial | 0.21 | 0.25 | 0.14 | 0.17 | 0.15 |
For the Oil & Gas E&P subindustry, California Resources's Asset Turnover, along with its competitors' market caps and Asset Turnover data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Oil & Gas industry and Energy sector, California Resources's Asset Turnover distribution charts can be found below:
* The bar in red indicates where California Resources's Asset Turnover falls into.
Asset Turnover measures how quickly a company turns over its asset through sales.
California Resources's Asset Turnover for the fiscal year that ended in Dec. 2023 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: Dec. 2023 ) | / | ( (Total Assets (A: Dec. 2022 ) | + | Total Assets (A: Dec. 2023 )) | / count ) |
= | 2813 | / | ( (3967 | + | 3998) | / 2 ) |
= | 2813 | / | 3982.5 | |||
= | 0.71 |
California Resources's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Dec. 2023 ) | / | ( (Total Assets (Q: Sep. 2023 ) | + | Total Assets (Q: Dec. 2023 )) | / count ) |
= | 607 | / | ( (3952 | + | 3998) | / 2 ) |
= | 607 | / | 3975 | |||
= | 0.15 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
California Resources (NYSE:CRC) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
California Resources's annulized ROE % for the quarter that ended in Dec. 2023 is
ROE %** | (Q: Dec. 2023 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 752 | / | 2134.5 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (752 / 2428) | * | (2428 / 3975) | * | (3975/ 2134.5) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 30.97 % | * | 0.6108 | * | 1.8623 |
= | ROA % | * | Equity Multiplier | ||
= | 18.92 % | * | 1.8623 | ||
= | 35.23 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
California Resources's annulized ROA % for the quarter that ended in Dec. 2023 is
ROA % | (Q: Dec. 2023 ) | ||
= | Net Income | / | Total Assets |
= | 752 | / | 3975 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (752 / 2428) | * | (2428 / 3975) |
= | Net Margin % | * | Asset Turnover |
= | 30.97 % | * | 0.6108 |
= | 18.92 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Thank you for viewing the detailed overview of California Resources's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Omar Hayat | officer: EVP - Operations | 1 WORLD TRADE CENTER, SUITE 1500, LONG BEACH CA 90831 |
Peralta Manuela Molina | officer: EVP and CFO | 1 WORLD TRADE CENTER, SUITE 1500, LONG BEACH CA 90831 |
William B Roby | director | 27200 TOURNEY ROAD, SUITE 200, SANTA CLARITA CA 91355 |
Goldentree Asset Management Lp | 10 percent owner | 300 PARK AVENUE, 21ST FLOOR, NEW YORK NY 10022 |
Ares Management Llc | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
Alejandra Veltmann | director | 1500 CITYWEST BLVD., SUITE 800, HOUSTON TX 77042 |
Neeman Brady Nicole Elana | director | 113 S. LA BREA BLVD., 3RD FLOOR, LOS ANGELES CA 90036 |
Christopher D. Gould | officer: EVP & Chief Sustainability Off | 27200 TOURNEY ROAD, SUITE 200, SANTA CLARITA CA 91355 |
Ssf Iv Energy I Aiv 2, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Assf Operating Manager Iv, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 1a, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 1b, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 2, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Ssf Iv Energy I Aiv 1a, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Acof Investment Management Llc | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
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