Middlesex Water Company (MSEX)
Total asset turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Revenue | US$ in thousands | 153,788 | 161,157 | 135,679 | 133,956 | 127,194 |
Total assets | US$ in thousands | 1,236,050 | 1,074,450 | 1,020,020 | 976,470 | 909,878 |
Total asset turnover | 0.12 | 0.15 | 0.13 | 0.14 | 0.14 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $153,788K ÷ $1,236,050K
= 0.12
Middlesex Water Co.'s total asset turnover has shown a declining trend over the past five years. The ratio decreased from 0.15 in 2019 to 0.13 in 2023. This indicates that the company's ability to generate sales from its assets has decreased over the years, suggesting possible inefficiencies in asset utilization. A lower total asset turnover could signify that the company is not effectively using its assets to generate revenues. Management should closely monitor and analyze the reasons behind this trend to make necessary improvements in asset management and operational efficiency.
Peer comparison
Dec 31, 2023
Company name
Symbol
Total asset turnover
Middlesex Water Company
MSEX
0.12
American States Water Company
AWR
0.27
American Water Works
AWK
0.14
California Water Service Group
CWT
0.16
Essential Utilities Inc
WTRG
0.12
SJW Corporation
SJW
0.15