American Water Works (AWK)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,217,000	3,782,000	4,677,000	3,777,000	3,606,000
Total assets	US$ in thousands	30,298,000	27,787,000	26,075,000	24,766,000	22,682,000
Total asset turnover		0.14	0.14	0.18	0.15	0.16

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,217,000K ÷ $30,298,000K
= 0.14

American Water Works Co. Inc.'s total asset turnover has shown a decreasing trend over the past five years, declining from 0.16 in 2019 to 0.14 in both 2022 and 2023. This indicates that the company is generating less revenue for each dollar invested in assets. A lower total asset turnover ratio could suggest inefficiencies in asset utilization or potential over-investment in assets that are not contributing significantly to revenue generation. It may be essential for the company to assess and optimize its asset management strategies to improve overall performance and profitability.