Middlesex Water Company (MSEX)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	191,877	166,274	161,157	135,679	133,956
Total assets	US$ in thousands	1,255,170	1,236,050	1,074,450	1,020,020	976,470
Total asset turnover		0.15	0.13	0.15	0.13	0.14

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $191,877K ÷ $1,255,170K
= 0.15

Middlesex Water Company's total asset turnover ratio has fluctuated over the past five years. The ratio was 0.14 as of December 31, 2020, and decreased slightly to 0.13 by December 31, 2021. There was a slight increase to 0.15 by December 31, 2022, followed by another drop to 0.13 by December 31, 2023. The ratio then improved to 0.15 by December 31, 2024.

Overall, the company's total asset turnover indicates the efficiency with which it generates revenue relative to its total assets. A higher ratio is generally preferred as it suggests that the company is utilizing its assets more effectively to generate sales. However, the fluctuating trend observed in Middlesex Water Company's total asset turnover may imply varying levels of asset utilization efficiency over the years, which could be influenced by changes in operational strategies or external factors impacting the business.