Mednax Inc (MD)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,952,560 | 1,875,310 | 1,820,660 | 1,623,470 | 3,394,160 |
| Total assets | US$ in thousands | 2,219,810 | 2,347,890 | 2,722,550 | 3,347,950 | 4,145,900 |
| Total asset turnover | 0.88 | 0.80 | 0.67 | 0.48 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,952,560K ÷ $2,219,810K
= 0.88
Pediatrix Medical Group Inc's total asset turnover has exhibited fluctuations over the past five years. The ratio stood at 0.90 at the end of December 31, 2023, indicating that the company generated $0.90 in net sales for every dollar invested in total assets during the year. This represents an improvement compared to the prior two years, where the ratios were 0.84 and 0.70 for 2022 and 2021, respectively.
The total asset turnover ratio had a significant increase in 2021 compared to 2020, which saw a ratio of 0.52. This suggests that the company efficiently utilized its assets to generate sales revenue in 2021. However, the ratio dipped in 2020, indicating a potential issue with asset utilization efficiency in that year.
Although the ratio was relatively strong in 2019 at 0.85, it dipped in the subsequent years before showing a recovery in 2023. Overall, the trend in total asset turnover for Pediatrix Medical Group Inc reflects variability in the company's ability to generate sales relative to its asset base.
Peer comparison
Dec 31, 2023