AAON Inc (AAON)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,163,700 | 891,921 | 538,159 | 524,604 | 469,090 |
| Total assets | US$ in thousands | 941,436 | 813,903 | 650,180 | 449,008 | 371,424 |
| Total asset turnover | 1.24 | 1.10 | 0.83 | 1.17 | 1.26 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,163,700K ÷ $941,436K
= 1.24
Total asset turnover measures a company's ability to generate revenue from its total assets. AAON Inc.'s total asset turnover has fluctuated over the past five years.
In 2023, the total asset turnover ratio improved to 1.24, indicating that AAON Inc. generated $1.24 in revenue for every dollar of total assets. This higher ratio suggests the company efficiently utilized its assets to generate sales.
Comparing this to the previous years, there was a notable increase from 2022 when the ratio was 1.09. This improvement signifies that AAON Inc. was more effective in utilizing its assets to drive revenue in 2023.
In contrast, the total asset turnover was lowest in 2021 at 0.82. This could suggest that the company faced challenges in generating revenue from its assets efficiently that year.
Overall, AAON Inc.'s fluctuating total asset turnover ratios indicate variations in how effectively the company managed its assets to drive sales over the past five years.
Peer comparison
Dec 31, 2023