Chesapeake Utilities Corporation (CPK)

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 670,604 672,570 672,076 675,953 680,704 653,767 630,049 601,661 569,968 546,642 540,726 526,695 488,198 483,134 474,341 471,832 479,606 481,846 482,620 481,950
Total assets US$ in thousands 3,304,700 2,240,750 2,204,490 2,197,550 2,215,040 2,157,420 2,117,340 2,109,630 2,114,870 2,021,830 1,972,340 1,953,950 1,932,490 1,888,090 1,822,180 1,788,220 1,783,200 1,714,240 1,681,040 1,682,800
Total asset turnover 0.20 0.30 0.30 0.31 0.31 0.30 0.30 0.29 0.27 0.27 0.27 0.27 0.25 0.26 0.26 0.26 0.27 0.28 0.29 0.29

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $670,604K ÷ $3,304,700K
= 0.20

The total asset turnover ratio for Chesapeake Utilities Corp has been relatively stable over the past eight quarters, ranging between 0.20 and 0.31. This ratio indicates how efficiently the company is generating revenue from its total assets. A higher ratio is generally preferable as it suggests that the company is generating more revenue per dollar of assets.

In this case, the average total asset turnover ratio appears to be around 0.29 to 0.31, indicating that for each dollar of total assets, the company is generating approximately $0.29 to $0.31 in revenue.

While the fluctuations in the ratio are not dramatic, it could be worth investigating further to understand the underlying reasons for the variations. Overall, a consistent and potentially improving trend in the total asset turnover ratio could signal better operational efficiency and financial performance for Chesapeake Utilities Corp.


Peer comparison

Dec 31, 2023

Company name
Symbol
Total asset turnover
Chesapeake Utilities Corporation
CPK
0.20
ONEOK Inc
OKE
0.39
Southwest Gas Holdings Inc
SWX
0.46