Granite Construction Incorporated (GVA)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,007,578 | 3,963,973 | 3,805,283 | 3,621,345 | 3,509,138 | 3,364,653 | 3,257,643 | 3,127,377 | 3,114,895 | 3,008,878 | 3,061,198 | 3,257,084 | 3,379,411 | 3,641,787 | 3,644,847 | 3,596,446 | 3,562,460 | 3,437,851 | 3,460,771 | 3,334,540 |
| Total assets | US$ in thousands | 3,025,660 | 3,130,920 | 2,881,370 | 2,595,040 | 2,813,540 | 2,580,320 | 2,376,580 | 2,077,390 | 2,167,930 | 2,407,960 | 2,291,330 | 2,282,140 | 2,494,930 | 2,561,760 | 2,478,900 | 2,373,680 | 2,380,000 | 2,488,270 | 2,508,650 | 2,384,380 |
| Total asset turnover | 1.32 | 1.27 | 1.32 | 1.40 | 1.25 | 1.30 | 1.37 | 1.51 | 1.44 | 1.25 | 1.34 | 1.43 | 1.35 | 1.42 | 1.47 | 1.52 | 1.50 | 1.38 | 1.38 | 1.40 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,007,578K ÷ $3,025,660K
= 1.32
Granite Construction Incorporated's total asset turnover ratio has shown some fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio measures the company's efficiency in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is utilizing its assets effectively to generate revenue.
Based on the provided data, Granite Construction's total asset turnover ratio ranged from a low of 1.25 on September 30, 2024, to a high of 1.52 on March 31, 2021. The ratio peaked in the first quarter of 2021, indicating that the company was efficient in generating sales relative to its total assets at that time.
However, there were periods where the total asset turnover ratio decreased, such as in the last quarter of 2024. This decline may suggest that Granite Construction may have faced challenges in generating sales from its assets efficiently during that period.
Overall, it is essential for Granite Construction to monitor its total asset turnover ratio consistently to ensure optimal asset utilization and revenue generation efficiency.
Peer comparison
Dec 31, 2024