Clean Harbors Inc (CLH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,395,620 | 5,168,640 | 3,803,030 | 3,139,310 | 3,409,670 |
| Total assets | US$ in thousands | 6,382,870 | 6,129,710 | 5,653,700 | 4,131,520 | 4,108,900 |
| Total asset turnover | 0.85 | 0.84 | 0.67 | 0.76 | 0.83 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,395,620K ÷ $6,382,870K
= 0.85
Clean Harbors, Inc.'s total asset turnover has fluctuated over the past five years, ranging from 0.67 to 0.85. The total asset turnover ratio indicates the company's ability to generate sales revenue from its assets. A higher ratio suggests that the company is more efficient in utilizing its assets to generate revenue.
In 2023, Clean Harbors, Inc. achieved a total asset turnover of 0.85, indicating that the company generated $0.85 in revenue for every dollar of assets owned. This represents an improvement compared to the previous year (0.84 in 2022) and is the highest ratio among the five years analyzed.
However, it is important to note that in 2021, the total asset turnover ratio dropped to 0.67, indicating a decline in efficiency in generating revenue from assets. The company managed to improve this ratio in subsequent years, with 2023 showing a positive upward trend.
Overall, Clean Harbors, Inc. seems to be improving its efficiency in utilizing its assets to generate revenue, as evidenced by the rising trend in total asset turnover ratios over the past few years.
Peer comparison
Dec 31, 2023