IDACORP Inc (IDA)

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	1,557,806	1,553,827	1,579,873	1,546,401	1,482,913	1,398,151	1,318,513	1,330,616	1,303,710	1,309,887	1,277,650	1,230,061	1,209,724	1,186,219	1,150,976	1,148,403	1,212,348	1,225,056	1,256,488	1,281,147
Total assets	US$ in thousands	8,475,920	8,293,530	7,839,070	7,878,890	7,543,260	7,523,940	7,452,100	7,284,560	7,210,520	7,254,050	7,201,460	7,078,300	7,095,240	6,930,160	7,020,530	6,609,950	6,641,200	6,502,320	6,460,850	6,387,820
Total asset turnover		0.18	0.19	0.20	0.20	0.20	0.19	0.18	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.16	0.17	0.18	0.19	0.19	0.20

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,557,806K ÷ $8,475,920K
= 0.18

Idacorp, Inc.'s total asset turnover has been relatively stable over the past eight quarters, ranging from 0.20 to 0.23. This ratio measures how efficiently the company generates revenue from its assets. A total asset turnover of 0.21 in Q4 2023 indicates that for every dollar of assets, the company generated $0.21 in revenue during that quarter.

The consistency in total asset turnover suggests that Idacorp is effectively utilizing its assets to generate revenue. A higher total asset turnover ratio would generally indicate better efficiency in asset utilization. Although the ratio fluctuated slightly quarter to quarter, it has generally remained within a close range, indicating consistent operational efficiency in generating revenue relative to the company's asset base.

Overall, Idacorp's stable total asset turnover ratio suggests that the company is maintaining a good balance between its asset base and revenue generation, which is a positive indicator of financial health and operational effectiveness.