Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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Long-term Activity Ratios (Summary)
Diamondback Energy Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio shows an overall increasing trend from the earliest available data in March 2018 through September 2022. Starting at 0.16 in March 2018, the ratio fluctuated slightly but generally increased, reaching 0.44 by September 2022. Notable increments occur particularly from mid-2020 onward, with values steadily rising from 0.18 to 0.44, indicating improved efficiency in generating sales from net fixed assets over time.
- Total Asset Turnover
- The total asset turnover ratio exhibited a similar general upward trajectory throughout the period. Beginning at 0.15 in March 2018, it experienced minor fluctuations in the following quarters but rose steadily from mid-2020 onward. By September 2022, the ratio reached 0.40, reflecting an enhanced ability to generate revenue from total assets. This improvement is consistent with the pattern observed in net fixed asset turnover, although the total asset turnover values remain slightly lower overall.
- Equity Turnover
- The equity turnover ratio reveals a more pronounced increase over the period. Starting at 0.23 in March 2018, the ratio ascended with some variability, reaching 0.69 by September 2022. The acceleration in equity turnover is particularly marked from mid-2020 forward, with a consistent upward pattern, suggesting growing revenue generation relative to shareholders' equity. This ratio demonstrates the highest relative increase among the three turnover metrics and points to improved effectiveness in using equity capital to generate sales.
Net Fixed Asset Turnover
Diamondback Energy Inc., net fixed asset turnover calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue from contracts with customers | ||||||||||||||||||||||||||||||
| Property and equipment, net | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Net fixed asset turnover
= (Revenue from contracts with customersQ3 2022
+ Revenue from contracts with customersQ2 2022
+ Revenue from contracts with customersQ1 2022
+ Revenue from contracts with customersQ4 2021)
÷ Property and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue from contracts with customers
- The revenue exhibited a generally increasing trend from March 2017 through June 2019, rising steadily from $232 million to $1,000 million, followed by a slight decline and fluctuation until March 2020. Thereafter, a significant drop occurred in June 2020, reaching $412 million, likely indicative of external challenges impacting sales. Recovery is evident starting from September 2020, with revenues improving quarter over quarter and peaking at $2,752 million in June 2022 before a slight decrease to $2,417 million in September 2022.
- Property and equipment, net
- The net value of property and equipment increased moderately from $6,103 million in March 2017 to $8,715 million in September 2018. A notable and substantial increase occurred in December 2018, rising sharply to $20,372 million, maintaining a relatively stable level around $21,000 million for subsequent quarters. A mild decline is observed between December 2019 and December 2020, dropping from approximately $21,835 million to $16,214 million, followed by a gradual recovery starting in March 2021 and continuing through September 2022, reaching $21,903 million.
- Net fixed asset turnover ratio
- The net fixed asset turnover ratio data is limited in the earlier years but starts to be reported consistently from December 2017. It showed a modest increase from 0.16 to a peak of 0.22 in December 2018, dropped to 0.10 in the same period, then stabilized around the 0.18 mark through December 2020. From 2021 onwards, a clear upward trend is observed, with the ratio increasing from 0.17 in March 2021 to 0.44 by September 2022, indicating improved efficiency in using fixed assets to generate revenue over the more recent periods.
Total Asset Turnover
Diamondback Energy Inc., total asset turnover calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue from contracts with customers | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Total asset turnover
= (Revenue from contracts with customersQ3 2022
+ Revenue from contracts with customersQ2 2022
+ Revenue from contracts with customersQ1 2022
+ Revenue from contracts with customersQ4 2021)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue demonstrates a generally upward trajectory over the observed periods. Starting at $232 million in March 2017, there is a consistent growth through 2017 and 2018, peaking at $621 million by December 2018. The trend continues strongly into 2019, reaching $1,089 million by year's end. Despite a notable decline in the first two quarters of 2020, with revenue dropping to $412 million in June 2020, recovery begins in the latter half of 2020. In 2021 and 2022, revenues exhibit robust growth, reaching as high as $2,752 million in June 2022 before a slight decrease to $2,417 million in September 2022.
- Total Assets Development
- Total assets show a steady increase from $6,370 million in March 2017 to a peak of $21,596 million by December 2018, indicating significant asset accumulation. From 2019 through 2020, total assets fluctuate moderately, with a slight decrease noted during mid-2020, reaching a low of $17,619 million by December 2020. A recovery trend emerges in 2021, with assets rising again steadily from $21,996 million in March to $23,331 million by March 2022, and continuing an upward trend to $23,843 million in September 2022.
- Total Asset Turnover Ratio Movements
- The total asset turnover ratio starts ceaselessly from 0.15 in September 2017 and experiences a mild increase through early 2018, moving around 0.17 to 0.19. A decrease occurs at the end of 2018, dropping to approximately 0.1, potentially reflecting lower efficiency relative to asset base expansion. From 2019 onwards, the ratio gradually improves, maintaining values between 0.15 and 0.17 through 2020. In 2021 and 2022, a marked improvement is observed, with the ratio rising steadily from 0.19 in March 2021 to 0.4 by September 2022, indicating enhanced efficiency in asset utilization, likely driven by revenue growth outpacing asset increases.
- Overall Observations
- The data reveal a company experiencing significant growth in both revenue and total assets over the span of approximately five years, with some volatility in 2020 possibly linked to broader economic factors. The recovery and subsequent strong growth in revenue and asset turnover ratios suggest improved operational efficiency and effective asset management in recent periods. The sharp increase in asset base by the end of 2018 may correlate with strategic investments or acquisitions. Despite the fluctuations, the improving asset turnover ratio during 2021-2022 is a positive signal for operational performance.
Equity Turnover
Diamondback Energy Inc., equity turnover calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue from contracts with customers | ||||||||||||||||||||||||||||||
| Total Diamondback Energy, Inc. stockholders’ equity | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Equity turnover
= (Revenue from contracts with customersQ3 2022
+ Revenue from contracts with customersQ2 2022
+ Revenue from contracts with customersQ1 2022
+ Revenue from contracts with customersQ4 2021)
÷ Total Diamondback Energy, Inc. stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue from contracts with customers
- The revenue demonstrates a generally upward trajectory over the periods analyzed. Beginning at $232 million in the first quarter of 2017, revenue consistently increases almost every quarter, reaching a peak of $2,752 million in the second quarter of 2022. Notable growth periods include between the end of 2017 and the first half of 2019, and a strong rebound from mid-2020 through 2021 and into 2022. There is a significant dip in early 2020, with revenue falling to $412 million in the second quarter of 2020, likely reflecting adverse external impacts during that period. Subsequently, revenue shows steady recovery and strong expansion.
- Total Diamondback Energy, Inc. stockholders’ equity
- Stockholders’ equity generally increases over the timeframe but with variability in growth rates. It starts at $4,652 million in the first quarter of 2017, rising gradually to a marked jump to $13,699 million by the fourth quarter of 2018. After this surge, equity remains relatively stable with minor fluctuations until early 2020, when it begins to decline, reaching a low of $8,794 million by the fourth quarter of 2020. Thereafter, equity recovers and continues to increase steadily, reaching $13,843 million by the third quarter of 2022. This pattern suggests significant equity restructuring or capital changes around late 2018 and a temporary decrease coinciding with market disruptions in 2020, followed by gradual rebuilding.
- Equity turnover ratio
- The equity turnover ratio presents an overall increasing trend across the available data points, starting at 0.23 in the third quarter of 2017 and rising to 0.69 by the third quarter of 2022. This indicates improving efficiency in generating revenue from equity over time. Minor fluctuations are visible but the ratio maintains an upward trajectory, with particularly notable increases from early 2021 onward, suggesting enhanced operational efficiency or better capital utilization in those periods.
- Summary of trends and insights
- Revenue growth is strong and sustained aside from the pronounced drop in early 2020, which aligns with broader economic challenges during that period. Equity shows a significant increase through 2018, followed by a decline in 2019–2020, then recovery and steady growth, reflecting changes in the company's capital structure or market conditions. The rising equity turnover ratio over the period suggests increasing effectiveness in converting equity into sales revenue. Collectively, the data reflect a resilient company with capacity for growth, effective equity use, and a recovery trajectory following external disruptions.