Heritage Financial Corporation (HFWA)

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	265,129	279,191	286,285	267,562	264,209	262,785	267,635	261,594	248,976	237,032	229,899	235,397	240,404	246,397	244,679	240,678	238,226	232,612	233,425	232,964
Total assets	US$ in thousands	7,106,280	7,153,360	7,059,860	7,091,280	7,174,960	7,150,590	7,115,410	7,236,810	6,980,100	7,200,310	7,316,470	7,483,810	7,432,410	7,259,040	7,105,670	7,028,390	6,615,320	6,685,890	6,562,360	5,587,300
Total asset turnover		0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.04	0.03	0.04	0.04

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $265,129K ÷ $7,106,280K
= 0.04

Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its assets. A higher total asset turnover ratio indicates that the company is generating more revenue from its assets.

Based on the data provided for Heritage Financial Corporation, the total asset turnover ratio has been relatively stable over the past several quarters, ranging between 0.03 and 0.04. This suggests that the company is able to efficiently leverage its assets to generate revenue. A consistent total asset turnover ratio can indicate that the company is effectively managing its assets and maximizing their productivity.

It is important to note that while a stable total asset turnover ratio is generally positive, it is also essential to consider other factors such as industry benchmarks and company-specific factors to get a comprehensive understanding of Heritage Financial Corporation's operational efficiency and financial performance.