Total Asset Turnover
since 2005
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Hess Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Calculation
Hess Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Sales and other operating revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2022-12-31), 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 millions
The data reflects several key trends in the financial performance and asset management over the period analyzed.
- Sales and Other Operating Revenues
- Sales show a general upward trend from 2005 to 2008, peaking at approximately 41.2 billion USD in 2008. Following this peak, there is a marked decline in sales observed in 2009, dropping to around 29.6 billion USD. After a brief recovery peaking again in 2011 at approximately 38.5 billion USD, sales decline sharply from 2012 onwards, reaching the lowest point in 2016 with revenues near 4.8 billion USD. Post-2016, revenues display a fluctuating but overall slow recovery, ending at roughly 11.3 billion USD in 2022.
- Total Assets
- Total assets increased steadily from 19.1 billion USD in 2005 to a peak of about 43.4 billion USD in 2012. Thereafter, a persistent decline is observed, dropping to approximately 18.8 billion USD by 2020. A moderate recovery occurs in the last two years, with assets rising to nearly 21.7 billion USD in 2022.
- Total Asset Turnover
- The total asset turnover ratio, indicative of asset efficiency, generally declines over the period. Initially around 1.19 in 2005, the ratio peaked at 1.44 in 2008, coinciding with the highest sales. Post-2008, the turnover declines sharply, hitting lows near 0.17 in 2016 and 2017. Slight improvement is noted thereafter, with the ratio reaching 0.52 in 2022. This pattern suggests diminishing efficiency in asset utilization during the periods of declining revenues and assets, with gradual improvements in recent years.
Overall, the data suggests the company experienced significant volatility, with a strong growth phase until 2008 followed by a steep downturn in both revenues and asset base around 2012-2016. Asset management efficiency, as measured by total asset turnover, correspondingly declined during this period but has shown signs of recovery since 2017. The recent trends imply an ongoing effort towards stabilizing and improving asset utilization as revenues begin to recover from their low points.
Comparison to Competitors
Hess Corp., total asset turnover, long-term trends, comparison to competitors
| Hess Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2022 | |||||
| Dec 31, 2021 | |||||
| Dec 31, 2020 | |||||
| Dec 31, 2019 | |||||
| Dec 31, 2018 | |||||
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| Dec 31, 2012 | |||||
| Dec 31, 2011 | |||||
| Dec 31, 2010 | |||||
| Dec 31, 2009 | |||||
| Dec 31, 2008 | |||||
| Dec 31, 2007 | |||||
| Dec 31, 2006 | |||||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2022-12-31), 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)
Hess Corp., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Hess Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2022-12-31), 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)
Hess Corp., total asset turnover, long-term trends, comparison to industry (energy)
| Hess Corp. | Energy | |
|---|---|---|
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2022-12-31), 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).