California Water Service Group (CWT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 747,613 | 804,187 | 749,273 | 755,324 | 626,488 |
| Total assets | US$ in thousands | 4,595,530 | 4,264,810 | 3,623,270 | 3,394,250 | 3,111,310 |
| Total asset turnover | 0.16 | 0.19 | 0.21 | 0.22 | 0.20 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $747,613K ÷ $4,595,530K
= 0.16
The total asset turnover of California Water Service Group has exhibited a decreasing trend over the past five years, declining from 0.23 in 2019 to 0.17 in 2023. This ratio indicates that the company generates $0.17 in revenue for every dollar of total assets.
A lower total asset turnover may suggest that the company is less efficient in utilizing its assets to generate sales. It could indicate issues such as excess inventory, underutilized assets, or inefficient operations.
Further analysis is necessary to determine the reasons behind the declining total asset turnover and to assess the overall efficiency and performance of California Water Service Group in utilizing its assets effectively to drive revenue generation.
Peer comparison
Dec 31, 2023