Healthcare Services Group Inc (HCSG)

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	1,664,939	1,662,797	1,671,964	1,678,501	1,690,839	1,688,983	1,688,540	1,662,128	1,641,959	1,644,689	1,665,046	1,718,904	1,760,303	1,784,086	1,803,745	1,813,817	1,840,878	1,890,326	1,941,491	1,983,022
Total assets	US$ in thousands	790,652	750,716	761,758	719,133	720,836	722,164	740,058	746,516	777,529	793,603	817,994	782,809	785,031	754,331	736,688	732,077	722,592	726,359	710,131	722,924
Total asset turnover		2.11	2.21	2.19	2.33	2.35	2.34	2.28	2.23	2.11	2.07	2.04	2.20	2.24	2.37	2.45	2.48	2.55	2.60	2.73	2.74

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,664,939K ÷ $790,652K
= 2.11

The total asset turnover ratio for Healthcare Services Group, Inc. has demonstrated a relatively stable trend over the past eight quarters, ranging between 2.11 and 2.35. This ratio measures the efficiency with which the company generates sales revenue relative to its total assets.

The company's total asset turnover indicates that, on average, for each dollar of total assets, Healthcare Services Group is generating between $2.11 and $2.35 of revenue. A higher total asset turnover generally implies that the company is utilizing its assets efficiently to generate sales.

Overall, the consistent total asset turnover ratios suggest that Healthcare Services Group has been effectively managing its assets to drive revenue growth over the analyzed quarters. Further analysis and comparisons with industry benchmarks would provide a better understanding of the company's asset utilization efficiency.