Hayward Holdings Inc (HAYW)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 917,868 | 1,256,620 | 1,337,320 |
| Total assets | US$ in thousands | 2,946,280 | 2,875,010 | 2,978,470 |
| Total asset turnover | 0.31 | 0.44 | 0.45 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $917,868K ÷ $2,946,280K
= 0.31
Based on the data provided for Hayward Holdings Inc, the total asset turnover ratio has shown a decreasing trend over the last three years. The ratio decreased from 0.47 in 2021 to 0.46 in 2022 and further to 0.34 in 2023.
A total asset turnover ratio of 0.34 in 2023 indicates that for every dollar of total assets the company had, it generated $0.34 of sales. This suggests that the company is less efficient in generating sales from its total assets compared to previous years.
The decreasing total asset turnover ratio could be an indication of inefficiency in asset utilization or declining sales relative to total assets. Further analysis of the underlying factors contributing to this trend, such as changes in business operations, asset management, or sales performance, would be necessary to fully understand the reasons behind the declining total asset turnover ratio for Hayward Holdings Inc.
Peer comparison
Dec 31, 2023