Golden Entertainment Inc (GDEN)
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 | 1,350,633 | 1,403,326 | 1,118,335 | 1,119,614 | 1,114,981 | 1,116,291 | 1,119,457 | 1,123,725 | 1,089,708 | 1,013,594 | 937,729 | 721,144 | 688,224 | 729,843 | 766,624 | 939,705 | 970,535 | 938,526 | 906,660 | 876,094 |
| Total assets | US$ in thousands | 1,452,280 | 1,544,660 | 1,494,250 | 1,499,880 | 1,508,670 | 1,547,670 | 1,546,850 | 1,604,140 | 1,615,560 | 1,644,270 | 1,664,700 | 1,615,190 | 1,570,950 | 1,608,930 | 1,623,940 | 1,902,270 | 1,740,920 | 1,690,720 | 1,694,670 | 1,690,180 |
| Total asset turnover | 0.93 | 0.91 | 0.75 | 0.75 | 0.74 | 0.72 | 0.72 | 0.70 | 0.67 | 0.62 | 0.56 | 0.45 | 0.44 | 0.45 | 0.47 | 0.49 | 0.56 | 0.56 | 0.54 | 0.52 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,350,633K ÷ $1,452,280K
= 0.93
Golden Entertainment Inc's total asset turnover ratio has shown relatively stable performance over the past eight quarters, fluctuating within a narrow range of 0.70 to 0.75. This indicates that the company generates approximately $0.73 to $0.75 in revenue for every dollar of total assets it possesses during each quarter.
The consistency of the total asset turnover ratio suggests that Golden Entertainment Inc has been effectively utilizing its assets to generate revenue. A higher total asset turnover ratio is generally preferred as it signifies that the company is efficiently generating sales from its assets. However, the slight fluctuations in the ratio do not raise significant concerns and could be attributed to normal business operations and seasonal variations.
Overall, Golden Entertainment Inc's total asset turnover ratio indicates a relatively stable and efficient utilization of assets to generate revenue, which is a positive sign for the company's operational efficiency.
Peer comparison
Dec 31, 2023