Comfort Systems USA Inc (FIX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,206,760 | 4,140,360 | 3,073,640 | 2,856,660 | 2,615,280 |
| Total assets | US$ in thousands | 3,305,580 | 2,597,480 | 2,209,110 | 1,757,360 | 1,505,010 |
| Total asset turnover | 1.58 | 1.59 | 1.39 | 1.63 | 1.74 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,206,760K ÷ $3,305,580K
= 1.58
Comfort Systems USA, Inc.'s total asset turnover has shown some fluctuations over the past five years. The ratio decreased from 1.74 in 2019 to 1.63 in 2020, possibly indicating slightly less efficient utilization of assets. However, the ratio rebounded to 1.59 in 2022 before dropping to 1.58 in 2023.
A total asset turnover ratio of above 1 indicates that the company is generating more in sales revenue per dollar of assets, which is generally favorable. The slight decline in the ratio over the years could suggest that the company may be experiencing challenges in generating sales relative to its total assets.
Further analysis would be necessary to understand the specific factors influencing these fluctuations and to determine if any strategic changes are needed to improve the efficiency of asset utilization in the future.
Peer comparison
Dec 31, 2023