MGE Energy Inc (MGEE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 2,675,460 | 2,517,600 | 2,371,910 | 2,253,650 | 2,081,660 |
| Total asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $—K ÷ $2,675,460K
= 0.00
The total asset turnover for MGE Energy Inc has consistently remained at 0.00 for the past five years (from 2019 to 2023). A total asset turnover ratio of 0.00 indicates that the company is not effectively utilizing its assets to generate sales revenue. This could suggest inefficiencies in the company's operations or underutilization of its asset base.
It is important for MGE Energy Inc to closely examine the reasons behind the consistently low total asset turnover ratio and identify areas for improvement. By increasing the efficiency of asset utilization, the company may be able to enhance its revenue generation capabilities and overall financial performance.