ASGN Inc (ASGN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,450,600 | 4,581,100 | 4,009,500 | 3,502,100 | 3,415,600 |
| Total assets | US$ in thousands | 3,544,600 | 3,585,700 | 3,502,800 | 3,278,000 | 2,941,400 |
| Total asset turnover | 1.26 | 1.28 | 1.14 | 1.07 | 1.16 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,450,600K ÷ $3,544,600K
= 1.26
Total asset turnover is a measure of efficiency that indicates how well a company is utilizing its assets to generate revenue. ASGN Inc's total asset turnover has fluctuated over the past five years, ranging from 1.14 to 1.33. A higher total asset turnover ratio generally indicates better asset utilization.
In 2023, ASGN Inc's total asset turnover decreased slightly to 1.26 from 1.28 in 2022. This suggests that the company generated $1.26 in revenue for every dollar of assets in 2023. While the ratio decreased, it still remains relatively high, indicating efficient asset management.
Over the five-year period, the company's total asset turnover has shown some variability but has generally remained above 1. This indicates that ASGN Inc has consistently been effective in generating revenue relative to its asset base. It is important for the company to continue monitoring and managing its asset turnover to ensure optimal utilization of its assets in driving revenue growth.
Peer comparison
Dec 31, 2023