Haverty Furniture Companies Inc (HVT)
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 | 867,572 | 935,649 | 988,559 | 1,034,657 | 1,047,913 | 1,033,296 | 1,018,756 | 1,015,444 | 1,012,971 | 988,370 | 945,498 | 805,218 | 748,317 | 720,815 | 712,863 | 795,327 | 803,272 | 798,403 | 799,078 | 805,167 |
| Total assets | US$ in thousands | 654,133 | 676,681 | 656,190 | 648,415 | 649,049 | 692,946 | 694,296 | 693,885 | 686,290 | 763,760 | 761,141 | 708,272 | 680,372 | 699,425 | 651,109 | 574,879 | 560,072 | 578,503 | 560,776 | 575,083 |
| Total asset turnover | 1.33 | 1.38 | 1.51 | 1.60 | 1.61 | 1.49 | 1.47 | 1.46 | 1.48 | 1.29 | 1.24 | 1.14 | 1.10 | 1.03 | 1.09 | 1.38 | 1.43 | 1.38 | 1.42 | 1.40 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $867,572K ÷ $654,133K
= 1.33
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue relative to its total assets. A higher total asset turnover indicates that the company is more effective in utilizing its assets to generate sales.
Analyzing the trend in Haverty Furniture Cos., Inc.'s total asset turnover over the past eight quarters, we can observe fluctuations in the ratio. The ratio decreased from 1.61 in Q4 2022 to 1.32 in Q4 2023, indicating a decline in the company's ability to generate sales revenue relative to its total assets during this period.
Despite the decline in the most recent quarter, Haverty Furniture Cos., Inc. demonstrated relatively stable total asset turnover levels in the preceding quarters, ranging between 1.38 and 1.61. This suggests that the company has generally been efficient in utilizing its assets to generate sales revenue, although there was a notable decrease in efficiency in Q4 2023 compared to the previous quarters.
Further analysis of the factors contributing to the fluctuation in total asset turnover, such as changes in sales volume, asset utilization, or asset management efficiency, would provide additional insights into the company's operational performance and potential areas for improvement.
Peer comparison
Dec 31, 2023