CarGurus (CARG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 916,367 | 1,656,550 | 951,443 | 551,428 | 589,606 |
| Total assets | US$ in thousands | 918,927 | 927,102 | 931,574 | 502,298 | 393,623 |
| Total asset turnover | 1.00 | 1.79 | 1.02 | 1.10 | 1.50 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $916,367K ÷ $918,927K
= 1.00
CarGurus Inc's total asset turnover has shown fluctuations over the past five years. The ratio was 1.50 in 2019, indicating that the company generated $1.50 in revenue for every dollar of assets. However, there was a decline in 2020 to 1.10, suggesting a decrease in efficiency in generating revenue from its assets.
In 2021, the total asset turnover ratio improved slightly to 1.02, but still remained relatively low compared to 2019. This suggests that CarGurus may have faced challenges in optimizing its asset utilization during that period.
The ratio saw a significant increase in 2022 to 1.79, indicating that the company generated $1.79 in revenue for every dollar of assets, reflecting improved efficiency in asset management. However, in 2023, there was a decline to 0.99, indicating a potential decrease in revenue generated from its assets compared to the previous year.
Overall, CarGurus Inc's total asset turnover ratio has shown variability over the years, signaling fluctuations in the efficiency of utilizing its assets to generate revenue. Further analysis is recommended to understand the factors driving these changes and to assess the company's overall financial performance.
Peer comparison
Dec 31, 2023