Enphase Energy Inc (ENPH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,290,790 | 2,330,850 | 1,382,050 | 774,425 | 624,333 |
| Total assets | US$ in thousands | 3,383,010 | 3,084,280 | 2,079,260 | 1,200,100 | 713,223 |
| Total asset turnover | 0.68 | 0.76 | 0.66 | 0.65 | 0.88 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,290,790K ÷ $3,383,010K
= 0.68
The total asset turnover ratio for Enphase Energy Inc over the five-year period has shown some fluctuations. In 2019, the total asset turnover was relatively high at 0.88, indicating that the company generated $0.88 in revenue for every dollar of assets. However, this ratio decreased in the following years, reaching its lowest point in 2021 at 0.66.
It rebounded slightly in 2022 to 0.76 but decreased again to 0.68 in 2023. This downward trend suggests that Enphase Energy Inc is becoming less efficient in generating sales from its assets over time. The declining total asset turnover ratio may indicate that the company is not utilizing its assets effectively to generate revenue, which could be a concern for investors and stakeholders. Further analysis of the company's operational efficiency and asset management practices may be needed to address this trend.
Peer comparison
Dec 31, 2023