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