Total Asset Turnover
since 2012
Calculation
Diamondback Energy Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.30 | = | 6,797) | ÷ | 22,898) |
| Dec 31, 2020 | 0.16 | = | 2,813) | ÷ | 17,619) |
| Dec 31, 2019 | 0.17 | = | 3,964) | ÷ | 23,531) |
| Dec 31, 2018 | 0.10 | = | 2,176) | ÷ | 21,596) |
| Dec 31, 2017 | 0.16 | = | 1,205) | ÷ | 7,771) |
| Dec 31, 2016 | 0.10 | = | 527) | ÷ | 5,350) |
| Dec 31, 2015 | 0.16 | = | 447) | ÷ | 2,758) |
| Dec 31, 2014 | 0.16 | = | 496) | ÷ | 3,095) |
| Dec 31, 2013 | 0.14 | = | 208) | ÷ | 1,522) |
| Dec 31, 2012 | 0.12 | = | 75) | ÷ | 607) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$ in millions
The financial trajectory from 2012 to 2021 is characterized by aggressive expansion in both revenue and the asset base, culminating in a significant improvement in capital efficiency by the end of the period.
- Revenue and Asset Expansion
- Revenues experienced exponential growth, rising from 75 million USD in 2012 to 6.797 billion USD by 2021. Concurrently, total assets expanded from 607 million USD to 22.898 billion USD. This simultaneous growth indicates a prolonged period of heavy capital investment and operational scaling.
- Asset Turnover Volatility
- The total asset turnover ratio remained relatively constrained between 0.10 and 0.17 for the majority of the decade. Notable troughs occurred in 2016 and 2018, where the ratio declined to 0.10. The 2018 decline is particularly significant as it coincides with a sharp increase in total assets, which rose from 7.771 billion USD to 21.596 billion USD, suggesting that asset acquisition significantly outpaced immediate revenue generation during that fiscal year.
- Efficiency Peak in 2021
- A substantial increase in the total asset turnover ratio is observed in 2021, reaching 0.30. This represents the highest efficiency level in the reported period and indicates a successful leverage of the expanded asset base to drive a surge in revenues, which more than doubled from the 2020 levels.
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Comparison to Competitors
Diamondback Energy Inc., total asset turnover, long-term trends, comparison to competitors
| Diamondback Energy Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2021 | 0.30 | 0.65 | 0.51 | 0.82 |
| Dec 31, 2020 | 0.16 | 0.39 | 0.30 | 0.54 |
| Dec 31, 2019 | 0.17 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.10 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.16 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.10 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.16 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.16 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.14 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.12 | 0.99 | 0.49 | 1.36 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Diamondback Energy Inc., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Diamondback Energy Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2021 | 0.30 | 0.71 |
| Dec 31, 2020 | 0.16 | 0.46 |
| Dec 31, 2019 | 0.17 | 0.64 |
| Dec 31, 2018 | 0.10 | 0.71 |
| Dec 31, 2017 | 0.16 | 0.59 |
| Dec 31, 2016 | 0.10 | 0.52 |
| Dec 31, 2015 | 0.16 | 0.60 |
| Dec 31, 2014 | 0.16 | 0.88 |
| Dec 31, 2013 | 0.14 | 0.97 |
| Dec 31, 2012 | 0.12 | 1.08 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Energy)
Diamondback Energy Inc., total asset turnover, long-term trends, comparison to industry (energy)
| Diamondback Energy Inc. | Energy | |
|---|---|---|
| Dec 31, 2021 | 0.30 | 0.71 |
| Dec 31, 2020 | 0.16 | 0.47 |
| Dec 31, 2019 | 0.17 | 0.63 |
| Dec 31, 2018 | 0.10 | 0.69 |
| Dec 31, 2017 | 0.16 | 0.58 |
| Dec 31, 2016 | 0.10 | 0.50 |
| Dec 31, 2015 | 0.16 | 0.59 |
| Dec 31, 2014 | 0.16 | 0.87 |
| Dec 31, 2013 | 0.14 | 0.94 |
| Dec 31, 2012 | 0.12 | 1.05 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).