Everus Construction Group Inc (ECG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 2,854,390 | 2,699,250 | 2,051,640 |
| Total assets | US$ in thousands | 1,110,580 | 1,135,590 | — |
| Total asset turnover | 2.57 | 2.38 | — |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,854,390K ÷ $1,110,580K
= 2.57
Based on the data provided, the total asset turnover for Everus Construction Group Inc has shown an increasing trend over the past two years. The total asset turnover ratio measures the company's ability to generate sales from its assets. A higher total asset turnover ratio indicates that the company is efficient in utilizing its assets to generate revenue.
In 2023, the total asset turnover ratio for Everus Construction Group Inc was 2.57, which means that for every dollar of total assets, the company generated $2.57 in sales revenue. This indicates an improvement in asset utilization compared to the previous year when the ratio was 2.38.
The increasing trend in total asset turnover is a positive indicator of the company's operational efficiency and effectiveness in utilizing its assets to drive sales growth. It suggests that Everus Construction Group Inc has been able to optimize its asset base to generate higher sales revenue, which is essential for sustainable business growth.
Peer comparison
Dec 31, 2023