American States Water Company (AWR)

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	595,699	595,886	579,174	544,381	491,528	482,785	484,556	490,363	498,853	506,429	503,362	496,226	488,243	477,036	477,844	481,213	473,869	471,881	461,567	443,821
Total assets	US$ in thousands	2,246,120	2,205,230	2,139,640	2,060,370	2,034,370	1,982,580	1,949,650	1,913,930	1,900,980	1,874,800	1,842,360	1,792,820	1,791,600	1,726,420	1,697,970	1,660,890	1,641,330	1,604,380	1,567,280	1,526,100
Total asset turnover		0.27	0.27	0.27	0.26	0.24	0.24	0.25	0.26	0.26	0.27	0.27	0.28	0.27	0.28	0.28	0.29	0.29	0.29	0.29	0.29

December 31, 2023 calculation

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

The total asset turnover ratio for American States Water Co. has been relatively stable around 0.24 to 0.27 for the past eight quarters, indicating that the company generates approximately $0.24 to $0.27 in revenue for every dollar of assets it holds. This suggests that the company is efficiently utilizing its assets to generate sales. However, it is important to consider industry benchmarks and compare this ratio with competitors to gain a better understanding of the company's asset utilization efficiency. Overall, a consistent total asset turnover ratio might indicate effective management of assets to drive revenue generation.