Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Texas Pacific Land Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Texas Pacific Land Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Texas Pacific Land Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Texas Pacific Land Corp. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Texas Pacific Land Corp. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net Fixed Asset Turnover
Texas Pacific Land Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Property, plant and equipment, net | 89,587) | 85,478) | 79,722) | 79,267) | 88,323) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 7.05 | 7.81 | 5.66 | 3.82 | 5.55 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Chevron Corp. | 1.28 | 1.64 | 1.06 | 0.60 | 0.93 | |
| ConocoPhillips | 0.80 | 1.21 | 0.71 | 0.47 | 0.77 | |
| Exxon Mobil Corp. | 1.56 | 1.95 | 1.28 | 0.78 | 1.01 | |
| Occidental Petroleum Corp. | 0.48 | 0.63 | 0.43 | 0.27 | 0.25 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.24 | 1.59 | 1.03 | 0.63 | 0.85 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Energy | 1.29 | 1.63 | 1.07 | 0.67 | 0.90 | |
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).
1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 631,595 ÷ 89,587 = 7.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Texas Pacific Land Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Texas Pacific Land Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Property, plant and equipment, net | 89,587) | 85,478) | 79,722) | 79,267) | 88,323) | |
| Operating lease right-of-use assets | 1,861) | 2,525) | 1,826) | 2,473) | 3,098) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 91,448) | 88,003) | 81,548) | 81,740) | 91,421) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 6.91 | 7.58 | 5.53 | 3.70 | 5.37 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Chevron Corp. | 1.24 | 1.59 | 1.03 | 0.59 | 0.90 | |
| ConocoPhillips | 0.79 | 1.20 | 0.70 | 0.46 | 0.75 | |
| Exxon Mobil Corp. | 1.51 | 1.89 | 1.24 | 0.76 | 0.98 | |
| Occidental Petroleum Corp. | 0.47 | 0.62 | 0.43 | 0.27 | 0.25 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.20 | 1.55 | 1.01 | 0.62 | 0.83 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Energy | 1.25 | 1.58 | 1.04 | 0.65 | 0.88 | |
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).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 631,595 ÷ 91,448 = 6.91
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Texas Pacific Land Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Total Asset Turnover
Texas Pacific Land Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Total assets | 1,156,398) | 877,427) | 764,064) | 571,635) | 598,176) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.55 | 0.76 | 0.59 | 0.53 | 0.82 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Chevron Corp. | 0.75 | 0.91 | 0.65 | 0.39 | 0.59 | |
| ConocoPhillips | 0.59 | 0.84 | 0.51 | 0.30 | 0.46 | |
| Exxon Mobil Corp. | 0.89 | 1.08 | 0.82 | 0.54 | 0.70 | |
| Occidental Petroleum Corp. | 0.38 | 0.50 | 0.35 | 0.22 | 0.19 | |
| Total Asset Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.76 | 0.94 | 0.68 | 0.43 | 0.57 | |
| Total Asset Turnover, Industry | ||||||
| Energy | 0.76 | 0.93 | 0.67 | 0.44 | 0.58 | |
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).
1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 631,595 ÷ 1,156,398 = 0.55
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Texas Pacific Land Corp. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Equity Turnover
Texas Pacific Land Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Total equity | 1,043,196) | 772,887) | 651,711) | 485,184) | 512,137) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 0.61 | 0.86 | 0.69 | 0.62 | 0.96 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Chevron Corp. | 1.22 | 1.48 | 1.12 | 0.72 | 0.97 | |
| ConocoPhillips | 1.14 | 1.64 | 1.01 | 0.63 | 0.93 | |
| Exxon Mobil Corp. | 1.63 | 2.04 | 1.64 | 1.14 | 1.33 | |
| Occidental Petroleum Corp. | 0.93 | 1.22 | 1.28 | 0.96 | 0.60 | |
| Equity Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.38 | 1.73 | 1.35 | 0.92 | 1.11 | |
| Equity Turnover, Industry | ||||||
| Energy | 1.39 | 1.73 | 1.36 | 0.95 | 1.12 | |
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).
1 2023 Calculation
Equity turnover = Revenues ÷ Total equity
= 631,595 ÷ 1,043,196 = 0.61
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Texas Pacific Land Corp. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |