Eversource Energy (ES)

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	11,910,680	12,246,180	12,670,280	12,613,580	12,289,250	11,741,430	10,958,630	10,508,490	9,863,020	9,615,070	9,525,870	9,356,470	8,904,330	8,720,800	8,553,000	8,484,400	8,526,500	8,511,000	8,606,600	8,576,000
Total assets	US$ in thousands	55,612,200	56,293,300	54,539,700	54,105,200	53,230,900	51,599,400	49,916,200	49,289,200	48,492,100	48,014,100	47,234,600	46,518,200	46,099,600	43,507,300	42,038,700	41,649,000	41,123,900	39,725,400	38,995,900	38,941,000
Total asset turnover		0.21	0.22	0.23	0.23	0.23	0.23	0.22	0.21	0.20	0.20	0.20	0.20	0.19	0.20	0.20	0.20	0.21	0.21	0.22	0.22

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $11,910,680K ÷ $55,612,200K
= 0.21

The total asset turnover for Eversource Energy over the past eight quarters has been relatively stable, ranging between 0.21 and 0.23. This ratio measures the company's efficiency in generating sales revenue from its total assets.

A total asset turnover ratio of less than 1 typically indicates that the company is not efficiently utilizing its assets to generate revenue. In the case of Eversource Energy, the ratios around 0.22 to 0.23 suggest that the company is generating approximately $0.22 to $0.23 of sales for every dollar of assets it holds.

It is important to note that total asset turnover can vary significantly between industries, so it is essential to compare Eversource Energy's ratios with those of its peers to gain a better understanding of its asset utilization efficiency. Across the quarters analyzed, Eversource Energy's total asset turnover has remained relatively consistent, indicating stable efficiency in converting its assets into sales.