FirstEnergy Corporation (FE)

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	12,870,000	12,901,000	12,889,000	12,701,000	12,459,000	11,942,000	11,591,000	11,395,000	11,132,000	11,009,000	10,907,000	10,807,000	10,790,000	10,926,000	10,867,000	10,861,000	11,035,000	11,072,000	11,173,000	11,282,000
Total assets	US$ in thousands	48,767,000	47,471,000	47,065,000	46,479,000	46,108,000	44,851,000	45,120,000	44,617,000	45,432,000	43,854,000	44,363,000	44,117,000	44,464,000	42,938,000	42,403,000	42,090,000	42,301,000	41,506,000	40,884,000	40,490,000
Total asset turnover		0.26	0.27	0.27	0.27	0.27	0.27	0.26	0.26	0.25	0.25	0.25	0.24	0.24	0.25	0.26	0.26	0.26	0.27	0.27	0.28

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $12,870,000K ÷ $48,767,000K
= 0.26

The total asset turnover ratio of Firstenergy Corp. has remained relatively consistent over the past eight quarters, ranging from 0.26 to 0.27. This ratio indicates that for each dollar of total assets, the company is generating between $0.26 and $0.27 of sales revenue.

A total asset turnover ratio of around 0.26 to 0.27 suggests that Firstenergy Corp. may not be efficiently utilizing its assets to generate revenue compared to some companies in the industry which might have higher turnover ratios. A higher total asset turnover ratio generally indicates more efficient utilization of assets to generate sales.

It would be beneficial for Firstenergy Corp. to further analyze its operational efficiency and examine ways to potentially improve its asset utilization to enhance profitability and overall financial performance. Further assessment of the company's operational processes and strategies may help identify areas for improvement in asset turnover and overall performance.