Gogo Inc (GOGO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 380,064 | 386,148 | 183,999 | 142,860 | 647,192 |
| Total assets | US$ in thousands | 781,539 | 759,526 | 647,687 | 673,588 | 1,214,700 |
| Total asset turnover | 0.49 | 0.51 | 0.28 | 0.21 | 0.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $380,064K ÷ $781,539K
= 0.49
Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. It indicates the amount of revenue generated for each dollar of assets the company holds.
Gogo Inc's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover ratio was 0.51, which means that the company generated $0.51 in revenue for every dollar of assets it had. This ratio decreased slightly from the previous year, where it was 0.53.
Comparing the total asset turnover ratio to previous years, we can see that Gogo Inc's efficiency in utilizing its assets has been inconsistent. In 2021 and 2020, the total asset turnover was relatively stable at around 0.52 and 0.40 respectively. However, in 2019, the ratio was significantly higher at 0.69, indicating a higher efficiency in generating revenue from its assets.
Overall, Gogo Inc's total asset turnover shows some variability, which may suggest fluctuations in operational efficiency and asset utilization over the years. Further analysis and comparison with industry peers could provide additional insights into the company's performance in this aspect.
Peer comparison
Dec 31, 2023