Itron Inc (ITRI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,167,720 | 1,788,240 | 1,881,840 | 2,072,330 | 2,450,020 |
| Total assets | US$ in thousands | 2,604,260 | 2,378,080 | 2,393,790 | 2,607,020 | 2,707,840 |
| Total asset turnover | 0.83 | 0.75 | 0.79 | 0.79 | 0.90 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,167,720K ÷ $2,604,260K
= 0.83
Itron Inc.'s total asset turnover has shown fluctuation over the last five years. Total asset turnover measures the efficiency with which the company generates revenue relative to its total assets. A higher ratio indicates better asset utilization.
In 2023, the total asset turnover stood at 0.83, which indicates that the company generated $0.83 in revenue for every dollar of assets. This represents a slight increase from 2022's ratio of 0.76. Despite the improvement, the ratio remains below the levels seen in 2021 and 2019, where it was also at 0.83 and 0.92 respectively.
The fluctuation in the total asset turnover ratio could be a result of changes in the company's revenue generation capabilities or fluctuations in its asset base. It is important for Itron Inc. to closely monitor and manage this ratio to ensure optimal utilization of its assets in generating revenue.
Peer comparison
Dec 31, 2023