Hubbell Inc (HUBB)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,333,700 | 4,894,800 | 4,120,400 | 4,125,400 | 4,543,700 |
| Total assets | US$ in thousands | 6,914,000 | 5,402,600 | 5,281,500 | 5,085,100 | 4,903,000 |
| Total asset turnover | 0.77 | 0.91 | 0.78 | 0.81 | 0.93 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,333,700K ÷ $6,914,000K
= 0.77
The total asset turnover ratio for Hubbell Inc. has fluctuated over the past five years. In 2023, the ratio stands at 0.78, indicating that the company generated $0.78 in revenue for every dollar of total assets. This represents a decrease from the previous year's ratio of 0.92. The declining trend in total asset turnover may suggest inefficiencies in asset utilization or a decrease in sales relative to the value of assets held by the company. Further analysis would be required to pinpoint the specific factors contributing to this trend and to assess the overall operational efficiency and effectiveness of Hubbell Inc.
Peer comparison
Dec 31, 2023