Total Asset Turnover
since 2010
Calculation
Kinder Morgan Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.18 | = | 13,209) | ÷ | 74,157) |
| Dec 31, 2018 | 0.18 | = | 14,144) | ÷ | 78,866) |
| Dec 31, 2017 | 0.17 | = | 13,705) | ÷ | 79,055) |
| Dec 31, 2016 | 0.16 | = | 13,058) | ÷ | 80,305) |
| Dec 31, 2015 | 0.17 | = | 14,403) | ÷ | 84,104) |
| Dec 31, 2014 | 0.20 | = | 16,226) | ÷ | 83,198) |
| Dec 31, 2013 | 0.19 | = | 14,070) | ÷ | 75,185) |
| Dec 31, 2012 | 0.15 | = | 9,973) | ÷ | 68,185) |
| Dec 31, 2011 | 0.27 | = | 8,265) | ÷ | 30,717) |
| Dec 31, 2010 | 0.28 | = | 8,191) | ÷ | 28,908) |
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).
1 US$ in millions
Between 2010 and 2019, the total asset turnover ratio exhibited a significant structural shift, characterized by an initial sharp decline followed by a period of relative stagnation at lower efficiency levels.
- Asset Base Expansion
- A substantial increase in total assets occurred between 2011 and 2012, where the asset base more than doubled from US$ 30,717 million to US$ 68,185 million. This rapid expansion continued through 2015, reaching a peak of US$ 84,104 million before entering a gradual decline to US$ 74,157 million by 2019.
- Revenue Trajectory
- Revenues demonstrated a strong upward trend from 2010 through 2014, rising from US$ 8,191 million to a peak of US$ 16,226 million. Following 2014, revenues experienced a correction and stabilized within a range of US$ 13,058 million to US$ 14,144 million for the remainder of the period.
- Asset Turnover Efficiency
- The total asset turnover ratio began at 0.28 in 2010 and 0.27 in 2011, but fell sharply to 0.15 in 2012, coinciding with the massive expansion of the asset base. Although a slight recovery to 0.20 was observed by 2014, the ratio remained constrained between 0.16 and 0.18 from 2015 to 2019. This suggests that the revenue growth generated during the period was insufficient to offset the significant increase in capital investment, resulting in a long-term reduction in asset utilization efficiency.
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Comparison to Competitors
Kinder Morgan Inc., total asset turnover, long-term trends, comparison to competitors
| Kinder Morgan Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2019 | 0.18 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.18 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.17 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.16 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.17 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.20 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.19 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.15 | 0.99 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.27 | 1.17 | 1.60 | 1.41 |
| Dec 31, 2010 | 0.28 | 1.07 | 1.21 | 1.22 |
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).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Kinder Morgan Inc., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Kinder Morgan Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2019 | 0.18 | 0.64 |
| Dec 31, 2018 | 0.18 | 0.71 |
| Dec 31, 2017 | 0.17 | 0.59 |
| Dec 31, 2016 | 0.16 | 0.52 |
| Dec 31, 2015 | 0.17 | 0.60 |
| Dec 31, 2014 | 0.20 | 0.88 |
| Dec 31, 2013 | 0.19 | 0.97 |
| Dec 31, 2012 | 0.15 | 1.08 |
| Dec 31, 2011 | 0.27 | 1.38 |
| Dec 31, 2010 | 0.28 | 1.18 |
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).
Comparison to Industry (Energy)
Kinder Morgan Inc., total asset turnover, long-term trends, comparison to industry (energy)
| Kinder Morgan Inc. | Energy | |
|---|---|---|
| Dec 31, 2019 | 0.18 | 0.63 |
| Dec 31, 2018 | 0.18 | 0.69 |
| Dec 31, 2017 | 0.17 | 0.58 |
| Dec 31, 2016 | 0.16 | 0.50 |
| Dec 31, 2015 | 0.17 | 0.59 |
| Dec 31, 2014 | 0.20 | 0.87 |
| Dec 31, 2013 | 0.19 | 0.94 |
| Dec 31, 2012 | 0.15 | 1.05 |
| Dec 31, 2011 | 0.27 | 1.33 |
| Dec 31, 2010 | 0.28 | 1.13 |
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).