Halliburton Company (HAL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 23,020,000 | 20,258,000 | 15,299,000 | 14,281,000 | 22,413,000 |
| Total assets | US$ in thousands | 24,683,000 | 23,255,000 | 22,321,000 | 20,680,000 | 25,377,000 |
| Total asset turnover | 0.93 | 0.87 | 0.69 | 0.69 | 0.88 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $23,020,000K ÷ $24,683,000K
= 0.93
Halliburton Co.'s total asset turnover has shown fluctuation over the past five years. The total asset turnover ratio measures the efficiency with which the company generates revenue relative to its total assets.
In 2023, the total asset turnover ratio improved to 0.93, indicating that the company generated $0.93 in revenue for every dollar of assets. This suggests an increase in efficiency in asset utilization compared to the previous year.
In 2022, the total asset turnover was 0.87, showing a slight decrease from the previous year but still reflecting reasonable efficiency in asset utilization.
In 2021, the total asset turnover was 0.69, which was the lowest among the five years analyzed. This indicates a decline in the company's ability to generate revenue from its assets during that year.
In 2020 and 2019, the total asset turnover ratios were 0.70 and 0.88, respectively. These figures suggest variations in asset utilization efficiency during those years.
Overall, Halliburton Co. has experienced fluctuations in its total asset turnover ratio in the past five years, with varying levels of efficiency in generating revenue relative to its total assets. It is essential for the company to focus on improving asset utilization to drive profitability and enhance overall financial performance.
Peer comparison
Dec 31, 2023