Total Asset Turnover
since 2005
Calculation
Marathon Oil Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.33 | = | 5,601) | ÷ | 16,994) |
| Dec 31, 2020 | 0.17 | = | 3,097) | ÷ | 17,956) |
| Dec 31, 2019 | 0.25 | = | 5,063) | ÷ | 20,245) |
| Dec 31, 2018 | 0.28 | = | 5,902) | ÷ | 21,321) |
| Dec 31, 2017 | 0.20 | = | 4,373) | ÷ | 22,012) |
| Dec 31, 2016 | 0.13 | = | 4,031) | ÷ | 31,094) |
| Dec 31, 2015 | 0.17 | = | 5,522) | ÷ | 32,311) |
| Dec 31, 2014 | 0.30 | = | 10,846) | ÷ | 36,011) |
| Dec 31, 2013 | 0.41 | = | 14,501) | ÷ | 35,620) |
| Dec 31, 2012 | 0.44 | = | 15,688) | ÷ | 35,306) |
| Dec 31, 2011 | 0.47 | = | 14,663) | ÷ | 31,371) |
| Dec 31, 2010 | 1.45 | = | 72,321) | ÷ | 50,014) |
| Dec 31, 2009 | 1.14 | = | 53,470) | ÷ | 47,052) |
| Dec 31, 2008 | 1.81 | = | 77,193) | ÷ | 42,686) |
| Dec 31, 2007 | 1.51 | = | 64,552) | ÷ | 42,746) |
| Dec 31, 2006 | 2.10 | = | 64,896) | ÷ | 30,831) |
| Dec 31, 2005 | 2.22 | = | 63,311) | ÷ | 28,498) |
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 millions
The financial data reveals a sustained contraction in asset utilization efficiency over the period from 2005 to 2021. Total asset turnover has experienced a significant long-term decline, moving from a peak of 2.22 in 2005 to 0.33 by the end of 2021, indicating a substantial reduction in the volume of revenue generated per unit of assets held.
- Structural Revenue and Asset Shift
- A critical inflection point occurred between 2010 and 2011, characterized by a precipitous drop in revenues from 72,321 million US dollars to 14,663 million US dollars. This coincided with a reduction in total assets from 50,014 million US dollars to 31,371 million US dollars. This structural change resulted in the total asset turnover ratio falling from 1.45 in 2010 to 0.47 in 2011, suggesting a fundamental change in the scale or nature of operations.
- Asset Turnover Trend Analysis
- Following the 2011 shift, the turnover ratio continued a downward trajectory for several years, reaching a nadir of 0.13 in 2016. This period represents the lowest point of operational efficiency in terms of revenue generation relative to the asset base. After 2016, a volatile but gradual recovery is observed, with the ratio climbing to 0.33 by December 31, 2021.
- Revenue vs. Asset Correlation
- While total assets were reduced by approximately 66% from their 2010 peak to the 2021 level, revenues declined more aggressively, falling by approximately 92% over the same period. The disparity between the rate of asset reduction and the rate of revenue decline explains the overall compression of the total asset turnover ratio.
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Comparison to Competitors
Marathon Oil Corp., total asset turnover, long-term trends, comparison to competitors
| Marathon Oil Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2021 | 0.33 | 0.65 | 0.51 | 0.82 |
| Dec 31, 2020 | 0.17 | 0.39 | 0.30 | 0.54 |
| Dec 31, 2019 | 0.25 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.28 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.20 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.13 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.17 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.30 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.41 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.44 | 0.99 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.47 | 1.17 | 1.60 | 1.41 |
| Dec 31, 2010 | 1.45 | 1.07 | 1.21 | 1.22 |
| Dec 31, 2009 | 1.14 | 1.02 | 0.98 | 1.29 |
| Dec 31, 2008 | 1.81 | 1.64 | 1.69 | 2.02 |
| Dec 31, 2007 | 1.51 | 1.44 | 1.05 | 1.61 |
| Dec 31, 2006 | 2.10 | 1.54 | 1.11 | 1.67 |
| Dec 31, 2005 | 2.22 | 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)
Marathon Oil Corp., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Marathon Oil Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2021 | 0.33 | 0.71 |
| Dec 31, 2020 | 0.17 | 0.46 |
| Dec 31, 2019 | 0.25 | 0.64 |
| Dec 31, 2018 | 0.28 | 0.71 |
| Dec 31, 2017 | 0.20 | 0.59 |
| Dec 31, 2016 | 0.13 | 0.52 |
| Dec 31, 2015 | 0.17 | 0.60 |
| Dec 31, 2014 | 0.30 | 0.88 |
| Dec 31, 2013 | 0.41 | 0.97 |
| Dec 31, 2012 | 0.44 | 1.08 |
| Dec 31, 2011 | 0.47 | 1.38 |
| Dec 31, 2010 | 1.45 | 1.18 |
| Dec 31, 2009 | 1.14 | 1.12 |
| Dec 31, 2008 | 1.81 | 1.81 |
| Dec 31, 2007 | 1.51 | 1.39 |
| Dec 31, 2006 | 2.10 | 1.46 |
| Dec 31, 2005 | 2.22 | 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)
Marathon Oil Corp., total asset turnover, long-term trends, comparison to industry (energy)
| Marathon Oil Corp. | Energy | |
|---|---|---|
| Dec 31, 2021 | 0.33 | 0.71 |
| Dec 31, 2020 | 0.17 | 0.47 |
| Dec 31, 2019 | 0.25 | 0.63 |
| Dec 31, 2018 | 0.28 | 0.69 |
| Dec 31, 2017 | 0.20 | 0.58 |
| Dec 31, 2016 | 0.13 | 0.50 |
| Dec 31, 2015 | 0.17 | 0.59 |
| Dec 31, 2014 | 0.30 | 0.87 |
| Dec 31, 2013 | 0.41 | 0.94 |
| Dec 31, 2012 | 0.44 | 1.05 |
| Dec 31, 2011 | 0.47 | 1.33 |
| Dec 31, 2010 | 1.45 | 1.13 |
| Dec 31, 2009 | 1.14 | 1.10 |
| Dec 31, 2008 | 1.81 | 1.76 |
| Dec 31, 2007 | 1.51 | 1.37 |
| Dec 31, 2006 | 2.10 | 1.43 |
| Dec 31, 2005 | 2.22 | 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).