Godaddy Inc (GDDY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,111,400 | 3,961,000 | 3,694,000 | 3,228,400 | 2,884,200 |
| Total assets | US$ in thousands | 7,564,900 | 6,973,500 | 7,417,100 | 6,432,900 | 6,301,200 |
| Total asset turnover | 0.54 | 0.57 | 0.50 | 0.50 | 0.46 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,111,400K ÷ $7,564,900K
= 0.54
The total asset turnover of Godaddy Inc has fluctuated over the past five years. In 2023, the company's total asset turnover ratio was 0.56, indicating that for every dollar of assets held by the company, it generated $0.56 of revenue. This ratio decreased slightly from 0.59 in 2022.
Comparing to previous years, the total asset turnover has shown an overall increasing trend since 2019 when it was at 0.47. Although the ratio dipped in 2021 to 0.51, it has since improved.
A total asset turnover ratio below 1 suggests that Godaddy Inc may have relatively high asset levels compared to its revenue generation. This could indicate that the company may not be efficiently utilizing its assets to generate sales revenue.
Overall, while the total asset turnover ratio has fluctuated over the years, the recent increase from 2022 to 2023 is a positive sign, showing potential improvement in the company's asset utilization efficiency.
Peer comparison
Dec 31, 2023