Helix Energy Solutions Group Inc (HLX)

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	1,289,728	1,242,387	1,119,264	973,059	873,100	753,940	662,109	661,438	674,728	665,969	678,743	715,949	733,555	744,407	763,526	766,107	751,909	739,516	739,482	742,379
Total assets	US$ in thousands	2,556,040	2,434,750	2,423,840	2,369,330	2,389,340	2,355,500	2,213,650	2,307,370	2,326,030	2,347,300	2,417,710	2,421,750	2,498,280	2,505,470	2,484,670	2,514,150	2,596,730	2,613,510	2,620,220	2,607,320
Total asset turnover		0.50	0.51	0.46	0.41	0.37	0.32	0.30	0.29	0.29	0.28	0.28	0.30	0.29	0.30	0.31	0.30	0.29	0.28	0.28	0.28

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,289,728K ÷ $2,556,040K
= 0.50

Total asset turnover is a key financial ratio that measures the efficiency of a company in generating revenue from its total assets. The ratio is calculated by dividing the company's total revenue by its average total assets.

Based on the data provided for Helix Energy Solutions Group Inc, we observe fluctuations in the total asset turnover ratio over the past eight quarters. In Q4 2023 and Q3 2023, the company had total asset turnover ratios of 0.50 and 0.51 respectively, indicating that for each dollar of total assets, the company generated $0.50 and $0.51 of revenue.

The total asset turnover ratio decreased to 0.46 in Q2 2023 and further to 0.41 in Q1 2023. This decline suggests that the company was less efficient in utilizing its total assets to generate revenue during these periods.

Comparing the current ratios to the previous quarters, we see a trend of increasing total asset turnover over the last year. This indicates that Helix Energy Solutions Group Inc has been improving its efficiency in generating revenue from its total assets.

Overall, fluctuations in the total asset turnover ratio highlight the company's ability to efficiently utilize its assets to drive revenue generation. It is essential for the company to continue monitoring and improving this metric to ensure sustained operational efficiency and profitability.