American States Water Company (AWR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	595,699	491,528	498,853	488,243	473,869
Total assets	US$ in thousands	2,246,120	2,034,370	1,900,980	1,791,600	1,641,330
Total asset turnover		0.27	0.24	0.26	0.27	0.29

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $595,699K ÷ $2,246,120K
= 0.27

American States Water Co.'s total asset turnover has shown a declining trend over the past five years, decreasing from 0.29 in 2019 to 0.27 in 2023. This indicates that the company generated $0.27 in sales for every dollar of assets invested in 2023. The decreasing trend suggests that the company may be less efficient in utilizing its assets to generate sales revenue.

A total asset turnover of 0.27 in 2023 implies that the company may be experiencing challenges in efficiently utilizing its assets to drive revenue generation. Further analysis and comparison with industry peers would be beneficial to understand the reasons behind this trend and to identify potential areas for improvement in asset utilization.