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.