Installed Building Products Inc (IBP)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,742,600 | 2,629,690 | 1,935,880 | 1,623,720 | 1,479,940 |
| Total assets | US$ in thousands | 1,981,300 | 1,778,900 | 1,653,200 | 1,187,680 | 1,099,480 |
| Total asset turnover | 1.38 | 1.48 | 1.17 | 1.37 | 1.35 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,742,600K ÷ $1,981,300K
= 1.38
Installed Building Products Inc's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover ratio was 1.40, down from 1.50 in 2022 and indicating a decrease in the company's efficiency in generating sales from its total assets. This decline may suggest a potential inefficiency in asset utilization in 2023 compared to the previous year. However, the ratio remains above 1, which generally indicates that the company is effectively utilizing its assets to generate sales. Furthermore, when comparing to 2021 and 2020, the total asset turnover ratio appears to be relatively stable around 1.37-1.39, reflecting consistent asset utilization over these years. Overall, while there was a slight decrease in 2023, Installed Building Products Inc generally maintains a healthy level of total asset turnover in recent years.
Peer comparison
Dec 31, 2023