Helmerich and Payne Inc (HP)
Total asset turnover
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,756,607 | 2,722,420 | 2,748,652 | 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 |
| Total assets | US$ in thousands | 5,781,900 | 4,484,980 | 4,424,850 | 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 |
| Total asset turnover | 0.48 | 0.61 | 0.62 | 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 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,756,607K ÷ $5,781,900K
= 0.48
The total asset turnover of Helmerich and Payne Inc has displayed fluctuations over the past few years. The ratio, which measures how efficiently the company generates revenue from its total assets, has ranged from 0.24 to 0.66 during the period under review.
The ratio indicates that for every dollar of total assets owned by the company, it generated relatively lower revenue in earlier periods compared to recent periods. This improvement in asset utilization signifies an enhanced efficiency in generating sales from its asset base.
A declining trend in total asset turnover from 0.66 in Sep 2023 to 0.47 in Sep 2022 suggests that the company may have been facing challenges in efficiently utilizing its assets during that period. However, the ratio started to improve thereafter, reaching 0.62 in Mar 2024 and 0.61 in Jun 2024.
Overall, the fluctuations in total asset turnover may imply varying levels of operational efficiency and effectiveness in utilizing assets for revenue generation. It is essential for the company to maintain or improve this ratio to demonstrate sustained productivity in utilizing its total asset base.
Peer comparison
Sep 30, 2024