Total Asset Turnover
since 2005
Calculation
Pioneer Natural Resources Co., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.53 | = | 19,374) | ÷ | 36,613) |
| Dec 31, 2022 | 0.68 | = | 24,384) | ÷ | 35,740) |
| Dec 31, 2021 | 0.49 | = | 17,870) | ÷ | 36,811) |
| Dec 31, 2020 | 0.37 | = | 7,024) | ÷ | 19,229) |
| Dec 31, 2019 | 0.51 | = | 9,671) | ÷ | 19,067) |
| Dec 31, 2018 | 0.52 | = | 9,379) | ÷ | 17,903) |
| Dec 31, 2017 | 0.31 | = | 5,294) | ÷ | 17,003) |
| Dec 31, 2016 | 0.24 | = | 3,951) | ÷ | 16,459) |
| Dec 31, 2015 | 0.21 | = | 3,142) | ÷ | 15,154) |
| Dec 31, 2014 | 0.29 | = | 4,325) | ÷ | 14,926) |
| Dec 31, 2013 | 0.28 | = | 3,490) | ÷ | 12,293) |
| Dec 31, 2012 | 0.22 | = | 2,812) | ÷ | 13,069) |
| Dec 31, 2011 | 0.20 | = | 2,294) | ÷ | 11,524) |
| Dec 31, 2010 | 0.19 | = | 1,803) | ÷ | 9,679) |
| Dec 31, 2009 | 0.18 | = | 1,610) | ÷ | 8,867) |
| Dec 31, 2008 | 0.25 | = | 2,277) | ÷ | 9,163) |
| Dec 31, 2007 | 0.20 | = | 1,741) | ÷ | 8,617) |
| Dec 31, 2006 | 0.22 | = | 1,582) | ÷ | 7,355) |
| Dec 31, 2005 | 0.30 | = | 2,216) | ÷ | 7,329) |
Based on: 10-K (reporting date: 2023-12-31), 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 total asset turnover ratio exhibits a long-term upward trajectory from 2005 to 2023, indicating an overall increase in the efficiency with which assets are utilized to generate revenue. The performance can be categorized into three distinct phases: a period of stagnation, a phase of gradual improvement, and a period of significant volatility and acceleration.
- Initial Stagnation Period (2005–2012)
- Between 2005 and 2012, the total asset turnover remained relatively low and unstable, fluctuating between a minimum of 0.18 in 2009 and a maximum of 0.30 in 2005. During this interval, revenue growth was modest and failed to keep pace with the steady expansion of the asset base, which grew from 7.3 billion US$ to over 13 billion US$. This suggests a period of capacity building or lower operational efficiency relative to the capital invested.
- Gradual Efficiency Gains (2013–2017)
- A trend of steady improvement emerged starting in 2013, with the ratio rising from 0.28 to 0.31 by 2017. This period was characterized by a more consistent alignment between revenue growth and asset accumulation. Revenues more than doubled from 3.49 billion US$ in 2013 to 5.29 billion US$ in 2017, while assets grew at a slower proportional rate, leading to a gradual increase in turnover efficiency.
- Accelerated Growth and Volatility (2018–2023)
- The most significant shift occurred in 2018, where the ratio jumped sharply to 0.52, coinciding with a substantial increase in revenues to 9.38 billion US$. Although a dip to 0.37 was observed in 2020—likely reflecting external market disruptions—the ratio recovered strongly, reaching a historical peak of 0.68 in 2022. This peak was driven by revenues reaching 24.38 billion US$, effectively offsetting a massive expansion in total assets which nearly doubled between 2020 and 2021. The period concluded with a decline to 0.53 in 2023, as revenues decreased to 19.37 billion US$ while the asset base remained high at 36.61 billion US$.
- Correlation Between Asset Expansion and Revenue Generation
- The analysis reveals a lagging relationship between asset acquisition and revenue realization. The substantial increase in total assets observed between 2020 and 2021 (from 19.23 billion US$ to 36.81 billion US$) was followed by the highest recorded asset turnover in 2022. This suggests that the capital expenditures or acquisitions made during the 2021 period were highly effective in driving immediate and significant top-line growth.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Pioneer Natural Resources Co., total asset turnover, long-term trends, comparison to competitors
| Pioneer Natural Resources Co. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 0.53 | 0.75 | 0.59 | 0.89 |
| Dec 31, 2022 | 0.68 | 0.91 | 0.84 | 1.08 |
| Dec 31, 2021 | 0.49 | 0.65 | 0.51 | 0.82 |
| Dec 31, 2020 | 0.37 | 0.39 | 0.30 | 0.54 |
| Dec 31, 2019 | 0.51 | 0.59 | 0.46 | 0.70 |
| Dec 31, 2018 | 0.52 | 0.63 | 0.52 | 0.81 |
| Dec 31, 2017 | 0.31 | 0.53 | 0.40 | 0.68 |
| Dec 31, 2016 | 0.24 | 0.42 | 0.26 | 0.66 |
| Dec 31, 2015 | 0.21 | 0.49 | 0.30 | 0.77 |
| Dec 31, 2014 | 0.29 | 0.75 | 0.45 | 1.13 |
| Dec 31, 2013 | 0.28 | 0.87 | 0.46 | 1.21 |
| Dec 31, 2012 | 0.22 | 0.99 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.20 | 1.17 | 1.60 | 1.41 |
| Dec 31, 2010 | 0.19 | 1.07 | 1.21 | 1.22 |
| Dec 31, 2009 | 0.18 | 1.02 | 0.98 | 1.29 |
| Dec 31, 2008 | 0.25 | 1.64 | 1.69 | 2.02 |
| Dec 31, 2007 | 0.20 | 1.44 | 1.05 | 1.61 |
| Dec 31, 2006 | 0.22 | 1.54 | 1.11 | 1.67 |
| Dec 31, 2005 | 0.30 | 1.54 | 1.68 | 1.72 |
Based on: 10-K (reporting date: 2023-12-31), 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)
Pioneer Natural Resources Co., total asset turnover, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Pioneer Natural Resources Co. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 0.53 | 0.80 |
| Dec 31, 2022 | 0.68 | 0.99 |
| Dec 31, 2021 | 0.49 | 0.71 |
| Dec 31, 2020 | 0.37 | 0.46 |
| Dec 31, 2019 | 0.51 | 0.64 |
| Dec 31, 2018 | 0.52 | 0.71 |
| Dec 31, 2017 | 0.31 | 0.59 |
| Dec 31, 2016 | 0.24 | 0.52 |
| Dec 31, 2015 | 0.21 | 0.60 |
| Dec 31, 2014 | 0.29 | 0.88 |
| Dec 31, 2013 | 0.28 | 0.97 |
| Dec 31, 2012 | 0.22 | 1.08 |
| Dec 31, 2011 | 0.20 | 1.38 |
| Dec 31, 2010 | 0.19 | 1.18 |
| Dec 31, 2009 | 0.18 | 1.12 |
| Dec 31, 2008 | 0.25 | 1.81 |
| Dec 31, 2007 | 0.20 | 1.39 |
| Dec 31, 2006 | 0.22 | 1.46 |
| Dec 31, 2005 | 0.30 | 1.66 |
Based on: 10-K (reporting date: 2023-12-31), 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)
Pioneer Natural Resources Co., total asset turnover, long-term trends, comparison to industry (energy)
| Pioneer Natural Resources Co. | Energy | |
|---|---|---|
| Dec 31, 2023 | 0.53 | 0.79 |
| Dec 31, 2022 | 0.68 | 0.97 |
| Dec 31, 2021 | 0.49 | 0.71 |
| Dec 31, 2020 | 0.37 | 0.47 |
| Dec 31, 2019 | 0.51 | 0.63 |
| Dec 31, 2018 | 0.52 | 0.69 |
| Dec 31, 2017 | 0.31 | 0.58 |
| Dec 31, 2016 | 0.24 | 0.50 |
| Dec 31, 2015 | 0.21 | 0.59 |
| Dec 31, 2014 | 0.29 | 0.87 |
| Dec 31, 2013 | 0.28 | 0.94 |
| Dec 31, 2012 | 0.22 | 1.05 |
| Dec 31, 2011 | 0.20 | 1.33 |
| Dec 31, 2010 | 0.19 | 1.13 |
| Dec 31, 2009 | 0.18 | 1.10 |
| Dec 31, 2008 | 0.25 | 1.76 |
| Dec 31, 2007 | 0.20 | 1.37 |
| Dec 31, 2006 | 0.22 | 1.43 |
| Dec 31, 2005 | 0.30 | 1.63 |
Based on: 10-K (reporting date: 2023-12-31), 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).