Total Asset Turnover
since 2005
Calculation
EQT Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Sales of natural gas, natural gas liquids and oil1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.31 | = | 6,804,020) | ÷ | 21,607,388) |
| Dec 31, 2020 | 0.15 | = | 2,650,299) | ÷ | 18,113,469) |
| Dec 31, 2019 | 0.20 | = | 3,791,414) | ÷ | 18,809,227) |
| Dec 31, 2018 | 0.23 | = | 4,695,519) | ÷ | 20,721,344) |
| Dec 31, 2017 | 0.09 | = | 2,651,318) | ÷ | 29,522,604) |
| Dec 31, 2016 | 0.10 | = | 1,594,997) | ÷ | 15,472,922) |
| Dec 31, 2015 | 0.12 | = | 1,690,360) | ÷ | 13,976,172) |
| Dec 31, 2014 | 0.18 | = | 2,132,409) | ÷ | 12,064,900) |
| Dec 31, 2013 | 0.17 | = | 1,710,245) | ÷ | 9,792,053) |
| Dec 31, 2012 | 0.19 | = | 1,641,608) | ÷ | 8,849,862) |
| Dec 31, 2011 | 0.19 | = | 1,639,934) | ÷ | 8,772,719) |
| Dec 31, 2010 | 0.19 | = | 1,322,708) | ÷ | 7,098,438) |
| Dec 31, 2009 | 0.21 | = | 1,269,827) | ÷ | 5,957,257) |
| Dec 31, 2008 | 0.30 | = | 1,576,488) | ÷ | 5,329,662) |
| Dec 31, 2007 | 0.35 | = | 1,361,406) | ÷ | 3,936,971) |
| Dec 31, 2006 | 0.39 | = | 1,267,910) | ÷ | 3,256,911) |
| Dec 31, 2005 | 0.38 | = | 1,253,724) | ÷ | 3,342,285) |
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), 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 total asset turnover ratio exhibited a prolonged period of decline from 2005 through 2017, followed by a volatile but upward recovery trend through 2021. This movement reflects a systemic mismatch between the growth of the asset base and the growth of sales revenue during the first twelve years of the period analyzed.
- Long-term Efficiency Decline (2005-2017)
- Between 2005 and 2017, the total asset turnover ratio decreased from 0.38 to 0.09. This decline coincided with a substantial expansion in total assets, which grew from approximately 3.3 billion USD to 29.5 billion USD. Because sales grew at a significantly slower pace—increasing from 1.25 billion USD to 2.65 billion USD over the same period—the efficiency of asset utilization deteriorated, reaching its lowest point in 2017.
- Asset Base Correction and Ratio Recovery (2018)
- A sharp reversal occurred in 2018, where the turnover ratio increased to 0.23. This improvement was driven by a simultaneous surge in sales, which rose to 4.7 billion USD, and a significant reduction in total assets, which fell from 29.5 billion USD to 20.7 billion USD. This suggests a realignment of the balance sheet or a divestiture of assets to optimize productivity.
- Recent Volatility and Peak Performance (2019-2021)
- Following the 2018 correction, the ratio experienced a temporary decline to 0.15 by 2020, reflecting a contraction in sales to 2.65 billion USD. However, 2021 marked a significant recovery, with the ratio rising to 0.31. This rebound was primarily fueled by a substantial increase in sales to 6.8 billion USD, while total assets remained relatively stable at 21.6 billion USD, indicating a marked improvement in revenue generation per unit of asset.
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Comparison to Competitors
EQT Corp., total asset turnover, long-term trends, comparison to competitors
| EQT Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2021 | 0.31 | 0.65 | 0.51 | 0.82 |
| Dec 31, 2020 | 0.15 | 0.39 | 0.30 | 0.54 |
| Dec 31, 2019 | 0.20 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.23 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.09 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.10 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.12 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.18 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.17 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.19 | 0.99 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.19 | 1.17 | 1.60 | 1.41 |
| Dec 31, 2010 | 0.19 | 1.07 | 1.21 | 1.22 |
| Dec 31, 2009 | 0.21 | 1.02 | 0.98 | 1.29 |
| Dec 31, 2008 | 0.30 | 1.64 | 1.69 | 2.02 |
| Dec 31, 2007 | 0.35 | 1.44 | 1.05 | 1.61 |
| Dec 31, 2006 | 0.39 | 1.54 | 1.11 | 1.67 |
| Dec 31, 2005 | 0.38 | 1.54 | 1.68 | 1.72 |
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), 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)
EQT Corp., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| EQT Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2021 | 0.31 | 0.71 |
| Dec 31, 2020 | 0.15 | 0.46 |
| Dec 31, 2019 | 0.20 | 0.64 |
| Dec 31, 2018 | 0.23 | 0.71 |
| Dec 31, 2017 | 0.09 | 0.59 |
| Dec 31, 2016 | 0.10 | 0.52 |
| Dec 31, 2015 | 0.12 | 0.60 |
| Dec 31, 2014 | 0.18 | 0.88 |
| Dec 31, 2013 | 0.17 | 0.97 |
| Dec 31, 2012 | 0.19 | 1.08 |
| Dec 31, 2011 | 0.19 | 1.38 |
| Dec 31, 2010 | 0.19 | 1.18 |
| Dec 31, 2009 | 0.21 | 1.12 |
| Dec 31, 2008 | 0.30 | 1.81 |
| Dec 31, 2007 | 0.35 | 1.39 |
| Dec 31, 2006 | 0.39 | 1.46 |
| Dec 31, 2005 | 0.38 | 1.66 |
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), 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)
EQT Corp., total asset turnover, long-term trends, comparison to industry (energy)
| EQT Corp. | Energy | |
|---|---|---|
| Dec 31, 2021 | 0.31 | 0.71 |
| Dec 31, 2020 | 0.15 | 0.47 |
| Dec 31, 2019 | 0.20 | 0.63 |
| Dec 31, 2018 | 0.23 | 0.69 |
| Dec 31, 2017 | 0.09 | 0.58 |
| Dec 31, 2016 | 0.10 | 0.50 |
| Dec 31, 2015 | 0.12 | 0.59 |
| Dec 31, 2014 | 0.18 | 0.87 |
| Dec 31, 2013 | 0.17 | 0.94 |
| Dec 31, 2012 | 0.19 | 1.05 |
| Dec 31, 2011 | 0.19 | 1.33 |
| Dec 31, 2010 | 0.19 | 1.13 |
| Dec 31, 2009 | 0.21 | 1.10 |
| Dec 31, 2008 | 0.30 | 1.76 |
| Dec 31, 2007 | 0.35 | 1.37 |
| Dec 31, 2006 | 0.39 | 1.43 |
| Dec 31, 2005 | 0.38 | 1.63 |
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), 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).