Chesapeake Utilities Corporation (CPK)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 670,604 | 680,704 | 569,968 | 488,198 | 479,605 |
| Total assets | US$ in thousands | 3,304,700 | 2,215,040 | 2,114,870 | 1,932,490 | 1,783,200 |
| Total asset turnover | 0.20 | 0.31 | 0.27 | 0.25 | 0.27 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $670,604K ÷ $3,304,700K
= 0.20
The total asset turnover for Chesapeake Utilities Corp has displayed fluctuations over the past five years. The ratio indicates how efficiently the company generates revenue from its total assets. In 2023, the total asset turnover decreased to 0.20 from 0.31 in 2022, reflecting a lower ability to generate sales from its assets compared to the previous year. This suggests a potential inefficiency in asset utilization or a decrease in revenue generation relative to total assets. Further analysis would be needed to determine the specific reasons behind this decline and assess the company's overall operational performance.
Peer comparison
Dec 31, 2023