Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Long-term Activity Ratios (Summary)
EOG Resources Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
- Net Fixed Asset Turnover
-
The net fixed asset turnover ratio demonstrates an overall upward trend from March 31, 2016, through December 31, 2019. After starting at 0.36 in the first observed quarter, there is a slight decline until September 30, 2016, where it decreases to 0.31 and remains relatively stable until the end of the same year. From March 31, 2017, the ratio begins a consistent increase, peaking around 0.62 in March 31, 2019. Thereafter, it shows a marginal decrease but remains close to the 0.58-0.57 range by year-end 2019. This indicates an improving efficiency in using fixed assets to generate sales over the period, with a slight deceleration towards the end.
- Total Asset Turnover
-
The total asset turnover ratio follows a somewhat similar pattern, though less pronounced than net fixed asset turnover. Starting at 0.32 in March 31, 2016, it experiences a gradual decrease to a low of 0.26 in December 31, 2016. Subsequently, it reverses direction and increases steadily, reaching a high of 0.51 by March 31, 2019. The ratio then levels off slightly but remains relatively strong between 0.48 and 0.49 in the later quarters of 2019. This pattern suggests an improvement in the company's overall asset efficiency in generating revenue after an initial dip.
- Equity Turnover
-
The equity turnover ratio displays a generally positive trend throughout the observed timeframe. Initially recorded at 0.68 in March 31, 2016, it declines steadily to 0.55 by March 31, 2017. From that point forward, it increases markedly, reaching a peak of 0.89 in both December 31, 2018, and March 31, 2019, before experiencing a slight contraction towards 0.80 by December 31, 2019. This trend signifies rising effectiveness in using shareholder equity to generate sales, with some moderation at the end of the period.
Net Fixed Asset Turnover
EOG Resources Inc., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Operating revenues and other | ||||||||||||||||||||||||||
| Property, plant and equipment, net | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
1 Q4 2019 Calculation
Net fixed asset turnover
= (Operating revenues and otherQ4 2019
+ Operating revenues and otherQ3 2019
+ Operating revenues and otherQ2 2019
+ Operating revenues and otherQ1 2019)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Operating Revenues and Other
- Operating revenues exhibited significant fluctuations over the analyzed quarterly periods. Initially, revenues peaked in mid-2015 around 2.47 billion US dollars, followed by a pronounced decline reaching approximately 1.35 billion US dollars in the first quarter of 2016. From this low point, a consistent upward trend emerged, culminating in a peak of about 4.78 billion US dollars in the third quarter of 2018. Subsequently, there was a moderate decline but revenues stabilized above 4 billion US dollars through the end of 2019. This pattern suggests a period of contraction followed by a robust recovery and growth phase, with leveling off toward the latter quarters.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment showed a declining trend during 2015 and the first half of 2016, decreasing from nearly 29.7 billion US dollars to just above 22.6 billion US dollars by the middle of 2016. After this reduction, a rebound occurred with steady increases through the subsequent years, reaching approximately 30.36 billion US dollars by the end of 2019. This pattern indicates possible asset divestments or impairments in the earlier period, followed by reinvestment or asset acquisitions driving the value upwards in later periods.
- Net Fixed Asset Turnover
- The ratio of net fixed asset turnover started at a low level in 2015, around 0.36, then gradually declined to a trough of 0.30 by the end of 2016. From early 2017 onward, a steady improvement is observable, with the ratio increasing consistently to peak at 0.62 in the fourth quarter of 2018. Minor declines followed, stabilizing around 0.57 by the end of 2019. The increase suggests enhanced efficiency in utilizing fixed assets to generate revenues during the latter years, indicating improving operational performance.
Total Asset Turnover
EOG Resources Inc., total asset turnover calculation (quarterly data)
| Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Operating revenues and other | ||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
1 Q4 2019 Calculation
Total asset turnover
= (Operating revenues and otherQ4 2019
+ Operating revenues and otherQ3 2019
+ Operating revenues and otherQ2 2019
+ Operating revenues and otherQ1 2019)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The operating revenues and other income exhibit a clear cyclical pattern with some fluctuations across the observed quarters. Starting from approximately 2.32 billion USD in the first quarter of 2015, the values demonstrate a decline in 2016, reaching a low point around 1.35 billion USD in the first quarter of 2016. From then on, a steady increase is observed, peaking near 4.78 billion USD by the third quarter of 2018, before experiencing a moderate decline towards the end of 2019, stabilizing around 4.3 billion USD. This pattern suggests periods of contraction followed by significant growth and some stabilization.*
Total assets also display variability across the analyzed quarters. Beginning at roughly 34.69 billion USD in the first quarter of 2015, total assets fluctuate downward through 2016, reaching their lowest point around 25.55 billion USD in the third quarter of 2016. Afterwards, a recovery trend is visible, with assets growing steadily to about 37.12 billion USD by the last quarter of 2019. This overall upward trajectory after 2016 suggests increased asset acquisition or appreciation, potentially supporting expanded business activities.*
The total asset turnover ratio, available from the third quarter of 2015 onwards, illustrates operational efficiency in utilizing assets to generate revenue. Initially low at 0.32, this ratio declines slightly to 0.26 by the first quarter of 2016. However, a clear improvement trend follows, with the ratio rising consistently and peaking at 0.51 in the first and third quarters of 2019. This indicates enhanced efficiency in asset utilization over time, meaning the company has been generating more revenue per unit of asset towards the latter periods analyzed.*
- Summary of Trends
- Operating revenues show a decline until early 2016, followed by considerable growth and partial stabilization through 2019.
- Total assets decline initially until mid-2016, then increase consistently until the end of 2019.
- Total asset turnover ratio generally improves over the period, indicating increasing operational efficiency.
- The interplay between rising revenues and asset growth suggests improved asset management and revenue generation capabilities in recent years.
Equity Turnover
EOG Resources Inc., equity turnover calculation (quarterly data)
| Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Operating revenues and other | ||||||||||||||||||||||||||
| Stockholders’ equity | ||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
1 Q4 2019 Calculation
Equity turnover
= (Operating revenues and otherQ4 2019
+ Operating revenues and otherQ3 2019
+ Operating revenues and otherQ2 2019
+ Operating revenues and otherQ1 2019)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Operating Revenues and Other
- The operating revenues exhibit a general upward trend from March 2015 through December 2019. Starting at approximately 2,318,538 thousand USD in the first quarter of 2015, revenues experienced fluctuations with a noticeable decline until early 2016, hitting a low of 1,354,349 thousand USD. From the second quarter of 2016 onward, revenues demonstrated consistent growth, culminating in a peak of 4,781,624 thousand USD by the third quarter of 2018. The final year in the data set, 2019, shows some variability but maintains a relatively high level above 4,000,000 thousand USD, indicating overall strengthening sales performance during the period.
- Stockholders’ Equity
- Stockholders' equity shows a decline from March 2015 through September 2016, decreasing from 17,470,498 thousand USD to 11,798,312 thousand USD. This was followed by a recovery phase beginning in the final quarter of 2016, where equity rose steadily until the end of 2019, reaching 21,640,716 thousand USD. The initial drop may suggest shareholder value erosion or balance sheet adjustments, but the subsequent upward movement suggests improved equity accumulation and possibly better retained earnings during the latter part of the period.
- Equity Turnover Ratio
- The equity turnover ratio was not reported for the majority of 2015 but began at 0.68 in the first quarter of 2016. From that point, the ratio exhibits a gradual increase, peaking around 0.89 between March and September 2019 before slightly declining to 0.80 in the last quarter of 2019. This trend implies enhanced efficiency in utilizing shareholders' equity to generate revenues over time, with the company becoming more effective in leveraging its equity base during the reported quarters.
- Overall Insights
- The financial data indicate a period of adjustment and recovery. The early part of the period shows reduced revenues and declining equity, which may reflect market challenges or internal restructuring. However, the steady improvement in revenues, combined with increasing stockholders' equity and rising equity turnover ratios in later years, points to successful operational and financial management initiatives that strengthened the company's market position and financial health by 2019. The rising equity turnover particularly highlights improved productivity in the use of equity to generate sales.