Addus HomeCare Corporation (ADUS)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,051,790 | 943,505 | 859,640 | 762,533 | 647,209 |
| Total assets | US$ in thousands | 1,024,430 | 937,994 | 947,585 | 892,582 | 636,748 |
| Total asset turnover | 1.03 | 1.01 | 0.91 | 0.85 | 1.02 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,051,790K ÷ $1,024,430K
= 1.03
Total asset turnover measures how efficiently Addus HomeCare Corporation generates revenue for each dollar of assets it controls. The ratio indicates how well the company utilizes its assets to generate sales.
Over the past five years, Addus HomeCare's total asset turnover has shown a generally positive trend, increasing from 0.86 in 2020 to 1.03 in 2023. This signifies an improvement in the company's ability to generate revenue from its total assets.
In 2021, the total asset turnover was 0.91, indicating that for every dollar of assets, the company generated $0.91 in revenue. This ratio increased to 1.01 in 2022 and further to 1.03 in 2023, indicating an increasing efficiency in asset utilization for revenue generation.
A total asset turnover above 1 suggests that for each dollar of assets, Addus HomeCare is generating more than a dollar of revenue, showcasing effective asset management and strong revenue generation capabilities. This trend indicates improved efficiency in utilizing assets to drive sales growth, which can be a positive signal for investors and stakeholders.
Peer comparison
Dec 31, 2023