M/I Homes Inc (MHO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,033,500 | 4,131,390 | 3,745,890 | 3,046,140 | 2,500,290 |
| Total assets | US$ in thousands | 4,022,440 | 3,714,920 | 3,239,850 | 2,643,040 | 2,105,590 |
| Total asset turnover | 1.00 | 1.11 | 1.16 | 1.15 | 1.19 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,033,500K ÷ $4,022,440K
= 1.00
Total asset turnover is a financial ratio that measures a company's ability to generate sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is more efficient in utilizing its assets to generate revenue.
MI Homes Inc.'s total asset turnover has fluctuated over the past five years, with values of 1.00 in 2023, 1.11 in 2022, 1.16 in 2021, 1.15 in 2020, and 1.19 in 2019. The declining trend from 1.19 in 2019 to 1.00 in 2023 suggests that the company may be experiencing challenges in efficiently generating sales from its assets.
A total asset turnover ratio of 1.00 in 2023 means that MI Homes Inc. generated $1.00 in sales revenue for every $1.00 invested in total assets. This indicates a decrease in asset efficiency compared to the previous years. The company may need to reassess its asset management strategies to improve its efficiency in generating sales.
Peer comparison
Dec 31, 2023