Total Asset Turnover
since 2005
Calculation
EOG Resources Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Operating revenues and other1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.47 | = | 17,379,973) | ÷ | 37,124,608) |
| Dec 31, 2018 | 0.51 | = | 17,275,399) | ÷ | 33,934,474) |
| Dec 31, 2017 | 0.38 | = | 11,208,320) | ÷ | 29,833,078) |
| Dec 31, 2016 | 0.26 | = | 7,650,632) | ÷ | 29,459,433) |
| Dec 31, 2015 | 0.32 | = | 8,757,428) | ÷ | 26,975,244) |
| Dec 31, 2014 | 0.52 | = | 18,035,340) | ÷ | 34,762,687) |
| Dec 31, 2013 | 0.47 | = | 14,487,118) | ÷ | 30,574,238) |
| Dec 31, 2012 | 0.43 | = | 11,682,636) | ÷ | 27,336,578) |
| Dec 31, 2011 | 0.41 | = | 10,126,115) | ÷ | 24,838,797) |
| Dec 31, 2010 | 0.28 | = | 6,099,896) | ÷ | 21,624,233) |
| Dec 31, 2009 | 0.26 | = | 4,786,959) | ÷ | 18,118,667) |
| Dec 31, 2008 | 0.45 | = | 7,127,143) | ÷ | 15,951,226) |
| Dec 31, 2007 | 0.35 | = | 4,190,791) | ÷ | 12,088,907) |
| Dec 31, 2006 | 0.42 | = | 3,904,415) | ÷ | 9,402,160) |
| Dec 31, 2005 | 0.47 | = | 3,620,213) | ÷ | 7,753,320) |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The relationship between operating revenues and total assets from 2005 to 2019 reveals a pattern of cyclical volatility in asset utilization efficiency. While both revenues and the asset base grew substantially over the fifteen-year period, the total asset turnover ratio fluctuated significantly, reflecting the impact of external market conditions on revenue generation relative to capital investment.
- Asset Base and Revenue Expansion
- Total assets grew from US$ 7.75 billion in 2005 to US$ 37.12 billion in 2019, representing a nearly fivefold increase in the company's resource base. Operating revenues followed a similar upward trajectory, rising from US$ 3.62 billion in 2005 to US$ 17.38 billion in 2019. However, revenue growth was markedly more volatile than asset growth, characterized by sharp contractions in 2009 and 2015.
- Asset Turnover Ratio Trends
- The total asset turnover ratio exhibited several distinct phases of fluctuation. An initial decline occurred between 2005 and 2007, falling from 0.47 to 0.35. A significant trough was observed in 2009, where the ratio dropped to 0.26, coinciding with a sharp decrease in operating revenues. This was followed by a period of recovery and growth, peaking at 0.52 in 2014, the highest efficiency level recorded in the period.
- Volatility and Recovery Cycles
- A second major contraction occurred between 2014 and 2016, with the turnover ratio falling from 0.52 to 0.26. This decline was driven by a substantial reduction in operating revenues, which fell from US$ 18.04 billion in 2014 to US$ 7.65 billion in 2016, despite assets remaining relatively stable. A rapid recovery ensued, with the ratio climbing back to 0.51 by 2018 before settling at 0.47 in 2019.
- Operational Efficiency Analysis
- The data indicates that asset utilization is highly sensitive to revenue swings rather than changes in the asset base. The periods of lowest turnover (2009 and 2016) align with significant revenue drops, suggesting that the company maintains a large capital-intensive infrastructure that does not scale down as quickly as revenues decline during market downturns. Conversely, the peaks in 2014 and 2018 demonstrate the company's ability to leverage its expanded asset base to generate higher revenue volumes during favorable market cycles.
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Comparison to Competitors
EOG Resources Inc., total asset turnover, long-term trends, comparison to competitors
| EOG Resources Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2019 | 0.47 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.51 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.38 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.26 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.32 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.52 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.47 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.43 | 0.99 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.41 | 1.17 | 1.60 | 1.41 |
| Dec 31, 2010 | 0.28 | 1.07 | 1.21 | 1.22 |
| Dec 31, 2009 | 0.26 | 1.02 | 0.98 | 1.29 |
| Dec 31, 2008 | 0.45 | 1.64 | 1.69 | 2.02 |
| Dec 31, 2007 | 0.35 | 1.44 | 1.05 | 1.61 |
| Dec 31, 2006 | 0.42 | 1.54 | 1.11 | 1.67 |
| Dec 31, 2005 | 0.47 | 1.54 | 1.68 | 1.72 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
EOG Resources Inc., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| EOG Resources Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2019 | 0.47 | 0.64 |
| Dec 31, 2018 | 0.51 | 0.71 |
| Dec 31, 2017 | 0.38 | 0.59 |
| Dec 31, 2016 | 0.26 | 0.52 |
| Dec 31, 2015 | 0.32 | 0.60 |
| Dec 31, 2014 | 0.52 | 0.88 |
| Dec 31, 2013 | 0.47 | 0.97 |
| Dec 31, 2012 | 0.43 | 1.08 |
| Dec 31, 2011 | 0.41 | 1.38 |
| Dec 31, 2010 | 0.28 | 1.18 |
| Dec 31, 2009 | 0.26 | 1.12 |
| Dec 31, 2008 | 0.45 | 1.81 |
| Dec 31, 2007 | 0.35 | 1.39 |
| Dec 31, 2006 | 0.42 | 1.46 |
| Dec 31, 2005 | 0.47 | 1.66 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
EOG Resources Inc., total asset turnover, long-term trends, comparison to industry (energy)
| EOG Resources Inc. | Energy | |
|---|---|---|
| Dec 31, 2019 | 0.47 | 0.63 |
| Dec 31, 2018 | 0.51 | 0.69 |
| Dec 31, 2017 | 0.38 | 0.58 |
| Dec 31, 2016 | 0.26 | 0.50 |
| Dec 31, 2015 | 0.32 | 0.59 |
| Dec 31, 2014 | 0.52 | 0.87 |
| Dec 31, 2013 | 0.47 | 0.94 |
| Dec 31, 2012 | 0.43 | 1.05 |
| Dec 31, 2011 | 0.41 | 1.33 |
| Dec 31, 2010 | 0.28 | 1.13 |
| Dec 31, 2009 | 0.26 | 1.10 |
| Dec 31, 2008 | 0.45 | 1.76 |
| Dec 31, 2007 | 0.35 | 1.37 |
| Dec 31, 2006 | 0.42 | 1.43 |
| Dec 31, 2005 | 0.47 | 1.63 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).