Green Plains Renewable Energy Inc (GPRE)

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	3,295,743	3,497,394	3,559,601	3,714,359	3,662,845	3,551,121	3,342,935	3,054,963	2,827,168	2,503,613	2,180,884	1,844,490	1,923,719	2,160,632	2,368,920	2,611,466	2,417,238	2,285,069	2,441,767	2,618,906
Total assets	US$ in thousands	1,939,320	1,951,140	2,022,800	2,034,830	2,123,130	2,101,540	2,296,010	2,252,500	2,159,760	2,113,200	1,992,950	1,944,630	1,578,920	1,537,420	1,571,080	1,638,100	1,698,220	1,692,070	2,140,730	2,147,580
Total asset turnover		1.70	1.79	1.76	1.83	1.73	1.69	1.46	1.36	1.31	1.18	1.09	0.95	1.22	1.41	1.51	1.59	1.42	1.35	1.14	1.22

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,295,743K ÷ $1,939,320K
= 1.70

The total asset turnover for Green Plains Inc has varied over the past eight quarters, ranging from 1.36 to 1.83. This ratio indicates how efficiently the company is using its assets to generate revenue. A higher total asset turnover ratio suggests that the company is effectively utilizing its assets to generate sales, while a lower ratio may indicate inefficiency or underutilization of assets.

Observing the trend, the total asset turnover has generally been increasing from Q1 2022 to Q1 2023, peaking at 1.83 in Q1 2023. This suggests that Green Plains Inc has been improving its ability to generate sales relative to its total assets over this period. However, it experienced a slight decline in Q2 and Q3 2023 before rebounding in Q4 2023.

Overall, a total asset turnover ratio above 1 indicates that Green Plains Inc is generating more revenue than the value of its total assets, which is a positive sign of efficiency and effective asset management. It is essential for the company to continue monitoring and optimizing its asset turnover to ensure sustainable growth and profitability.