Golden Entertainment Inc (GDEN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,350,630 | 1,114,980 | 1,089,710 | 688,224 | 954,234 |
| Total assets | US$ in thousands | 1,452,280 | 1,508,670 | 1,615,560 | 1,570,950 | 1,740,920 |
| Total asset turnover | 0.93 | 0.74 | 0.67 | 0.44 | 0.55 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,350,630K ÷ $1,452,280K
= 0.93
Golden Entertainment Inc's total asset turnover has fluctuated over the past five years. The ratio indicates how efficiently the company generates revenue from its assets. A higher total asset turnover is generally preferred as it suggests that the company is able to generate more revenue from its assets.
In 2023, the total asset turnover was 0.73, a slight decrease from the previous year but still a relatively healthy level. This indicates that for every dollar of assets invested, the company generated $0.73 in revenue.
Compared to 2019 and 2020, where the total asset turnover was at its lowest levels of 0.56 and 0.44 respectively, there has been a noticeable improvement. This suggests that the company has become more efficient in utilizing its assets to generate revenue.
Although the total asset turnover in 2021 was lower at 0.68, the overall trend has been positive. It is essential for the company to continue monitoring and improving its efficiency in asset utilization to sustain or further increase its revenue generation in the future.
Peer comparison
Dec 31, 2023