Granite Construction Incorporated (GVA)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,007,570 | 3,509,140 | 3,301,260 | 3,010,050 | 3,562,460 |
| Total assets | US$ in thousands | 3,025,660 | 2,813,540 | 2,167,930 | 2,494,930 | 2,380,000 |
| Total asset turnover | 1.32 | 1.25 | 1.52 | 1.21 | 1.50 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,007,570K ÷ $3,025,660K
= 1.32
Granite Construction Incorporated's total asset turnover has exhibited variations over the years. In 2020, the total asset turnover stood at 1.50, indicating that the company generated $1.50 in revenue for every dollar invested in total assets. The ratio decreased to 1.21 by December 31, 2021, suggesting a decline in efficiency in generating revenue from its assets. However, by December 31, 2022, there was an improvement as the total asset turnover ratio increased to 1.52, indicating better utilization of assets to generate revenue.
The ratio then dropped to 1.25 by December 31, 2023, pointing towards a potential decrease in asset efficiency during that period. In the most recent data available as of December 31, 2024, the total asset turnover ratio improved to 1.32, signifying that Granite Construction Incorporated was able to generate more revenue relative to its total assets investment compared to the previous year. Overall, the company's total asset turnover ratio has shown fluctuations, with a general trend of improvement in recent years.
Peer comparison
Dec 31, 2024