Haverty Furniture Companies Inc (HVT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 867,570 | 1,048,700 | 1,013,110 | 783,124 | 803,578 |
| Total assets | US$ in thousands | 654,133 | 649,049 | 686,290 | 680,372 | 560,072 |
| Total asset turnover | 1.33 | 1.62 | 1.48 | 1.15 | 1.43 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $867,570K ÷ $654,133K
= 1.33
Haverty Furniture Companies Inc's total asset turnover has shown fluctuations over the past five years. The ratio indicates the company's efficiency in generating sales from its total assets. In 2023, the total asset turnover decreased to 1.33 from 1.62 in 2022, suggesting a decline in the company's ability to utilize its assets to generate revenue. However, it is still higher than the ratios in 2020 and 2019, indicating some efficiency in asset utilization.
The company experienced a peak in total asset turnover in 2022, which suggests that it was more effective in generating revenue from its assets that year compared to the other years analyzed. On the other hand, the lowest ratio was observed in 2020, indicating a potential inefficiency in asset utilization during that period.
Overall, Haverty Furniture Companies Inc's total asset turnover has shown variability, and further analysis is needed to understand the factors contributing to these fluctuations in asset utilization efficiency.
Peer comparison
Dec 31, 2023