Black Hills Corporation (BKH)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,331,300	2,551,800	1,949,100	1,696,940	1,734,900
Total assets	US$ in thousands	9,620,400	9,618,200	9,131,900	8,088,790	7,558,460
Total asset turnover		0.24	0.27	0.21	0.21	0.23

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,331,300K ÷ $9,620,400K
= 0.24

The total asset turnover ratio for Black Hills Corporation has fluctuated over the past five years. In 2023, the total asset turnover was 0.24, slightly lower than the previous year's 0.27. This indicates that for every dollar of total assets, the company generated $0.24 of revenue in 2023.

Comparing to 2021 and 2020 where the total asset turnover was 0.21 in both years, it suggests that the company was able to generate slightly more revenue from its assets in 2023. However, the ratio is still lower than the 2019 total asset turnover of 0.23, indicating that the company may not be utilizing its assets as efficiently as it did in 2019.

Overall, while there has been some improvement in total asset turnover in 2023 compared to the previous year, the company may need to focus on improving efficiency in utilizing its assets to generate more revenue in the future.