Archrock Inc (AROC)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 884,635 | 850,029 | 813,492 | 785,951 | 753,160 | 724,464 | 705,631 | 683,916 | 685,067 | 688,377 | 699,129 | 720,039 | 768,969 | 841,112 | 878,250 | 896,466 | 884,844 | 872,016 | 863,322 | 858,072 |
| Total assets | US$ in thousands | 2,655,950 | 2,672,110 | 2,680,020 | 2,619,910 | 2,598,750 | 2,605,600 | 2,601,330 | 2,600,020 | 2,589,970 | 2,618,220 | 2,695,660 | 2,722,530 | 2,779,720 | 2,865,670 | 2,928,390 | 3,016,840 | 3,109,980 | 3,100,800 | 2,661,310 | 2,634,260 |
| Total asset turnover | 0.33 | 0.32 | 0.30 | 0.30 | 0.29 | 0.28 | 0.27 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.28 | 0.29 | 0.30 | 0.30 | 0.28 | 0.28 | 0.32 | 0.33 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $884,635K ÷ $2,655,950K
= 0.33
The total asset turnover of Archrock Inc has shown a general upward trend over the past eight quarters, indicating an improvement in the company's efficiency in generating sales revenue from its total assets. The ratio has increased from 0.30 in Q1 2022 to 0.37 in Q4 2023.
This suggests that Archrock Inc has been more effective in utilizing its assets to generate revenue, with each dollar of assets generating more sales. A higher total asset turnover ratio is typically viewed positively as it indicates better asset utilization and efficiency in the company's operations.
The consistent increase in the total asset turnover ratio suggests that Archrock Inc has been able to improve its operational efficiency and optimize its asset utilization during the period under review. This trend reflects positively on the company's management and operational performance.
Peer comparison
Dec 31, 2023