Middlesex Water Company (MSEX)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	191,877	183,372	174,987	165,353	160,542	160,340	159,166	157,131	161,158	154,740	147,137	144,256	135,282	135,917	135,959	134,658	133,956	131,761	129,520	127,795
Total assets	US$ in thousands	1,255,170	1,229,620	1,274,640	1,250,100	1,236,050	1,243,420	1,127,590	1,098,920	1,074,450	1,064,670	1,038,020	1,074,450	1,020,020	1,029,590	1,014,980	986,210	976,470	959,834	950,870	935,316
Total asset turnover		0.15	0.15	0.14	0.13	0.13	0.13	0.14	0.14	0.15	0.15	0.14	0.13	0.13	0.13	0.13	0.14	0.14	0.14	0.14	0.14

December 31, 2024 calculation

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

Middlesex Water Company's total asset turnover ratio has remained relatively stable around the range of 0.13 to 0.15 over the past few years. This indicates that, on average, the company generates $0.13 to $0.15 in revenue for every dollar of assets it owns. A consistent total asset turnover ratio suggests that Middlesex Water Company has been efficiently utilizing its assets to generate sales. However, it would be beneficial to analyze this ratio in conjunction with other financial metrics to gain a deeper understanding of the company's overall performance and efficiency in managing its assets.