Baker Hughes Co (BKR)
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 | 24,941,000 | 23,990,000 | 22,603,000 | 21,333,000 | 20,452,000 | 20,453,000 | 20,175,000 | 20,265,000 | 20,202,000 | 20,101,000 | 20,058,000 | 19,648,000 | 20,306,000 | 21,363,000 | 22,203,000 | 23,474,000 | 23,664,000 | 23,581,000 | 23,368,000 | 22,915,000 |
| Total assets | US$ in thousands | 36,945,000 | 36,550,000 | 36,093,000 | 35,042,000 | 34,181,000 | 33,165,000 | 33,753,000 | 34,994,000 | 35,308,000 | 35,772,000 | 36,669,000 | 36,836,000 | 38,007,000 | 37,339,000 | 37,523,000 | 37,229,000 | 53,369,000 | 52,549,000 | 52,876,000 | 53,129,000 |
| Total asset turnover | 0.68 | 0.66 | 0.63 | 0.61 | 0.60 | 0.62 | 0.60 | 0.58 | 0.57 | 0.56 | 0.55 | 0.53 | 0.53 | 0.57 | 0.59 | 0.63 | 0.44 | 0.45 | 0.44 | 0.43 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $24,941,000K ÷ $36,945,000K
= 0.68
The total asset turnover ratio for Baker Hughes Co has shown a relatively stable trend over the past eight quarters, ranging from 0.59 to 0.69. This ratio indicates the company's ability to generate revenue from its total assets. A higher total asset turnover ratio generally implies that the company is more efficient in utilizing its assets to generate sales.
In the most recent quarter, Q4 2023, the total asset turnover ratio increased to 0.69 from 0.67 in the previous quarter, Q3 2023. This suggests that Baker Hughes Co was able to generate more revenue per dollar of total assets in Q4 2023 compared to the previous quarter.
The company's total asset turnover has generally been above 0.6, indicating that Baker Hughes Co has been effectively utilizing its assets to drive revenue. However, it is important to consider industry benchmarks and compare the company's total asset turnover to its competitors to gain a better understanding of its operational efficiency and asset utilization.
Peer comparison
Dec 31, 2023