Helmerich and Payne Inc (HP)
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 | 2,829,931 | 2,872,421 | 2,844,147 | 2,670,424 | 2,368,799 | 2,058,944 | 1,771,419 | 1,553,399 | 1,381,973 | 1,218,568 | 1,083,028 | 1,068,179 | 1,405,647 | 1,773,927 | 2,214,710 | 2,585,320 | 2,672,549 | 2,798,490 | 2,846,265 | 2,807,163 |
| Total assets | US$ in thousands | 4,421,330 | 4,381,960 | 4,340,820 | 4,365,730 | 4,411,850 | 4,355,530 | 4,322,610 | 4,334,350 | 4,392,250 | 5,034,130 | 4,495,280 | 4,588,100 | 4,726,750 | 4,829,620 | 4,962,330 | 5,176,750 | 5,841,510 | 5,839,520 | 5,897,380 | 6,144,560 |
| Total asset turnover | 0.64 | 0.66 | 0.66 | 0.61 | 0.54 | 0.47 | 0.41 | 0.36 | 0.31 | 0.24 | 0.24 | 0.23 | 0.30 | 0.37 | 0.45 | 0.50 | 0.46 | 0.48 | 0.48 | 0.46 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,829,931K ÷ $4,421,330K
= 0.64
The total asset turnover ratio for Helmerich & Payne, Inc. has shown variability over the past eight quarters, ranging from 0.36 to 0.66. This ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher ratio is generally preferred as it indicates that the company is utilizing its assets more effectively to generate sales.
The ratio has shown a positive trend over the past two years, increasing from 0.36 in March 2022 to 0.66 in June 2023. This suggests that the company has been able to improve its utilization of assets to generate sales revenue.
It is important to note that the ratio dipped in the fourth quarter of 2022, but has since rebounded and surpassed the levels seen in the first quarter of 2022. This indicates that the company has made effective adjustments to improve its asset turnover efficiency.
Overall, the upward trend in the total asset turnover ratio indicates that Helmerich & Payne, Inc. has been successful in utilizing its assets to generate sales revenue more efficiently, which could be a positive signal for the company's operational performance.
Peer comparison
Dec 31, 2023