Topbuild Corp (BLD)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,121,100 | 4,950,980 | 3,442,500 | 2,686,160 | 2,585,470 |
| Total assets | US$ in thousands | 5,162,850 | 4,606,830 | 4,258,530 | 2,815,280 | 2,603,960 |
| Total asset turnover | 0.99 | 1.07 | 0.81 | 0.95 | 0.99 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,121,100K ÷ $5,162,850K
= 0.99
Total asset turnover measures the efficiency with which a company utilizes its total assets to generate revenue. TopBuild Corp's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover was 1.01, indicating that the company generated $1.01 in revenue for every $1 of total assets. This was a slight decrease from 2022 when the ratio was 1.09. The 2023 ratio is higher than in 2021 and 2020, suggesting improved asset utilization efficiency compared to those years. However, it falls short of the 2019 total asset turnover of 1.01. Overall, TopBuild Corp's total asset turnover shows some variability, and further analysis of operating efficiency and asset management practices may be necessary to fully understand the trends in asset utilization.