Black Hills Corporation (BKH)

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	2,331,300	2,531,007	2,586,493	2,649,405	2,551,816	2,322,885	2,240,863	2,139,240	1,949,102	1,872,981	1,838,981	1,793,323	1,696,941	1,688,208	1,667,166	1,674,140	1,734,900	1,758,442	1,754,873	1,776,689
Total assets	US$ in thousands	9,620,400	9,932,930	9,409,100	9,460,140	9,618,200	9,322,290	9,134,560	9,130,650	9,131,900	8,910,390	8,738,050	8,696,200	8,088,790	7,829,050	7,689,930	7,648,810	7,558,460	7,274,950	7,081,450	7,037,570
Total asset turnover		0.24	0.25	0.27	0.28	0.27	0.25	0.25	0.23	0.21	0.21	0.21	0.21	0.21	0.22	0.22	0.22	0.23	0.24	0.25	0.25

December 31, 2023 calculation

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

Black Hills Corporation's total asset turnover has shown some fluctuations over the past eight quarters, ranging from 0.23 to 0.28. The total asset turnover ratio measures the efficiency with which the company generates sales revenue from its total assets.

A higher total asset turnover ratio generally indicates that the company is utilizing its assets more efficiently to generate revenue. In the case of Black Hills Corporation, the ratio has been hovering around 0.25 to 0.28, suggesting that the company is generating approximately $0.25 to $0.28 in revenue for every $1 of total assets.

The slight variations in the total asset turnover ratio over the quarters may indicate fluctuations in the company's operational efficiency. It is important to further investigate the underlying reasons for these fluctuations to determine if there are any significant changes impacting the company's ability to generate revenue from its assets efficiently.

Overall, while the total asset turnover ratios for Black Hills Corporation have remained relatively stable, a more detailed analysis is needed to assess the company's asset utilization efficiency accurately.