Dril-Quip Inc (DRQ)
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 | 424,060 | 394,530 | 365,427 | 369,798 | 362,070 | 343,168 | 338,024 | 324,843 | 322,945 | 332,267 | 340,565 | 350,214 | 364,973 | 386,193 | 403,125 | 416,487 | 414,806 | 403,687 | 388,717 | 379,770 |
| Total assets | US$ in thousands | 1,028,180 | 1,007,570 | 979,666 | 975,396 | 969,951 | 968,603 | 973,566 | 978,110 | 1,009,930 | 1,093,740 | 1,124,710 | 1,126,830 | 1,151,170 | 1,159,540 | 1,147,690 | 1,136,110 | 1,206,560 | 1,205,640 | 1,201,900 | 1,183,730 |
| Total asset turnover | 0.41 | 0.39 | 0.37 | 0.38 | 0.37 | 0.35 | 0.35 | 0.33 | 0.32 | 0.30 | 0.30 | 0.31 | 0.32 | 0.33 | 0.35 | 0.37 | 0.34 | 0.33 | 0.32 | 0.32 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $424,060K ÷ $1,028,180K
= 0.41
Dril-Quip, Inc.'s total asset turnover has shown a fluctuating trend over the past eight quarters. The total asset turnover ratio measures the company's ability to generate sales from its assets. A higher ratio indicates more efficient asset utilization.
In Q4 2023, Dril-Quip, Inc.'s total asset turnover increased to 0.41, which suggests that the company generated $0.41 in sales for every dollar of assets during the period. This improvement may indicate better efficiency in utilizing its assets to drive revenue.
The previous quarter, Q3 2023, had a total asset turnover of 0.39, showing a slight decrease from the current quarter but still maintaining a relatively efficient level of asset utilization.
Looking further back, in Q2 and Q1 2023, the total asset turnover ratios were 0.37 and 0.38, respectively, indicating a similar level of asset utilization during those periods.
Comparing the recent performance to the same quarter in the previous year, Q4 2022, the total asset turnover has increased from 0.37 to 0.41, signifying a positive trend in asset efficiency.
Overall, the fluctuation in Dril-Quip, Inc.'s total asset turnover ratios over the past eight quarters indicates varying degrees of efficiency in generating sales from its assets. It is essential for the company to monitor and manage its asset turnover to ensure ongoing effectiveness in asset utilization.
Peer comparison
Dec 31, 2023