Monarch Casino & Resort Inc (MCRI)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	501,012	476,398	395,377	184,413	249,166
Total assets	US$ in thousands	680,873	692,942	690,459	671,877	610,878
Total asset turnover		0.74	0.69	0.57	0.27	0.41

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $501,012K ÷ $680,873K
= 0.74

Monarch Casino & Resort, Inc.'s total asset turnover has shown a fluctuating trend over the past five years. The ratio was at its highest in 2023 at 0.74, indicating that the company generated $0.74 in revenue for every dollar of assets it held during that year. This represents an improvement from the previous year, suggesting that management was able to utilize its assets more efficiently to generate sales.

In 2022 and 2021, the total asset turnover ratios were 0.69 and 0.57, respectively, indicating a moderate level of asset utilization to drive revenue. The lower ratio in 2021 compared to 2022 could indicate a potential decrease in sales relative to the assets employed, which may require further investigation into the company's operational efficiency.

In 2020, the total asset turnover ratio significantly dropped to 0.27, signaling a decline in the company's ability to generate revenue from its assets. This could raise concerns about overinvestment in assets or ineffective management of resources during that period.

Lastly, in 2019, the total asset turnover ratio improved to 0.41 from the previous year, indicating better asset utilization compared to 2020 but still lower than the most recent year.

Overall, the upward trend in total asset turnover from 2019 to 2023 demonstrates a general improvement in Monarch Casino & Resort, Inc.'s efficiency in generating sales relative to its asset base, with the company achieving its highest performance in asset turnover in 2023.