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