MGM Resorts International (MGM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 15,596,400 | 14,822,700 | 8,908,930 | 5,851,180 | 14,531,600 |
| Total assets | US$ in thousands | 42,368,500 | 45,692,200 | 40,899,100 | 36,494,900 | 33,876,400 |
| Total asset turnover | 0.37 | 0.32 | 0.22 | 0.16 | 0.43 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $15,596,400K ÷ $42,368,500K
= 0.37
The total asset turnover ratio for MGM Resorts International has fluctuated over the past five years. In 2019 and 2023, the ratio stood at 0.38, indicating that the company generated $0.38 in revenue for every dollar of assets. In 2022, the ratio decreased to 0.29, suggesting a decline in efficiency in generating revenue from its assets. The ratio further decreased to 0.24 in 2021, reflecting a continued decrease in asset turnover efficiency.
However, there was a significant improvement in 2020 with the total asset turnover ratio increasing to 0.14. This increase might indicate a strategic shift or operational improvement that led to better utilization of assets to generate revenue. Overall, MGM Resorts International has experienced varied performance in terms of asset turnover in the past five years, and future monitoring of this ratio will be essential to assess the company's efficiency in utilizing its assets to generate revenues.
Peer comparison
Dec 31, 2023