JB Hunt Transport Services Inc (JBHT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 12,735,900 | 14,788,200 | 12,116,200 | 9,585,030 | 9,097,520 |
| Total assets | US$ in thousands | 8,538,000 | 7,787,000 | 6,794,000 | 5,928,350 | 5,470,850 |
| Total asset turnover | 1.49 | 1.90 | 1.78 | 1.62 | 1.66 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $12,735,900K ÷ $8,538,000K
= 1.49
The total asset turnover ratio of J.B. Hunt Transport Services, Inc. has shown fluctuations over the past five years. The ratio was 1.50 in 2023, decreased from 1.90 in 2022, and also declined compared to 1.79 in 2021. However, it was slightly higher than in 2020 and 2019, which were 1.63 and 1.68, respectively.
A total asset turnover ratio of 1.50 in 2023 indicates that the company generated $1.50 in revenue for every dollar of total assets it possessed during the year. The decreasing trend in the total asset turnover ratio may imply that the company is not efficiently utilizing its assets to generate sales, signifying a potential inefficiency in asset management or a decrease in operational effectiveness.
Further investigation into the reasons behind the fluctuations in the total asset turnover ratio over the years would be necessary to identify any underlying operational or strategic issues that may be impacting the company's efficiency in utilizing its assets to generate revenue.
Peer comparison
Dec 31, 2023