Heritage Financial Corporation (HFWA)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 309,712 | 239,538 | 248,976 | 240,404 | 238,226 |
| Total assets | US$ in thousands | 7,106,280 | 7,174,960 | 6,980,100 | 7,432,410 | 6,615,320 |
| Total asset turnover | 0.04 | 0.03 | 0.04 | 0.03 | 0.04 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $309,712K ÷ $7,106,280K
= 0.04
The total asset turnover ratio for Heritage Financial Corporation has shown stability over the past five years, fluctuating between 0.03 and 0.04. This metric indicates how efficiently the company is utilizing its assets to generate revenue. A total asset turnover ratio of 0.03 to 0.04 suggests that for every dollar of assets held by the company, between 3 to 4 cents of revenue are generated. The slight fluctuations in the ratio may indicate changes in the company's asset management strategies or revenue generation capabilities during the period under review. Further analysis of the company's operational efficiency and asset utilization may provide insights into the factors driving the variations in the total asset turnover ratio.