Huntington Ingalls Industries Inc (HII)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,454,000 | 10,676,000 | 9,524,000 | 9,361,000 | 8,899,000 |
| Total assets | US$ in thousands | 11,215,000 | 10,857,000 | 10,627,000 | 8,157,000 | 7,031,000 |
| Total asset turnover | 1.02 | 0.98 | 0.90 | 1.15 | 1.27 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $11,454,000K ÷ $11,215,000K
= 1.02
The total asset turnover of Huntington Ingalls Industries Inc has fluctuated over the past five years. It increased from 1.27 in 2019 to 1.15 in 2020, indicating that the company was generating more revenue for each dollar invested in total assets. However, in the following years, the total asset turnover decreased to 0.90 in 2021, then slightly increased to 0.98 in 2022, and further improved to 1.02 in 2023.
A total asset turnover of 1.02 in 2023 suggests that the company generated $1.02 in revenue for every $1 of total assets it held during the year. This shows the company's ability to efficiently utilize its assets to generate sales. Overall, the trend in total asset turnover indicates fluctuations in the company's efficiency in generating revenue from its total asset base over the period analyzed.
Peer comparison
Dec 31, 2023