DXP Enterprises Inc (DXPE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,624,650 | 1,451,700 | 1,093,110 | 982,407 | 1,247,510 |
| Total assets | US$ in thousands | 1,177,440 | 1,037,280 | 894,227 | 868,131 | 788,220 |
| Total asset turnover | 1.38 | 1.40 | 1.22 | 1.13 | 1.58 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,624,650K ÷ $1,177,440K
= 1.38
The total asset turnover ratio for DXP Enterprises Inc has fluctuated over the past five years. The ratio indicates how efficiently the company is utilizing its assets to generate sales.
In 2023, the total asset turnover was 1.38, showing a slight decrease from the previous year's ratio of 1.40. This implies that for every dollar of assets, the company generated $1.38 in sales.
Compared to 2021 and 2020, where the total asset turnover ratios were 1.22 and 1.13 respectively, there has been an improvement in 2023 and 2022. This suggests that DXP Enterprises Inc has been able to increase its sales generated from its assets more effectively in recent years.
However, the total asset turnover ratio in 2019 was notably higher at 1.58 compared to the subsequent years. This could indicate that the company was more efficient in utilizing its assets to generate sales in 2019 compared to the following years.
Overall, the fluctuation in the total asset turnover ratio of DXP Enterprises Inc over the five-year period indicates varying levels of efficiency in utilizing assets to generate sales.
Peer comparison
Dec 31, 2023