Meritage Corporation (MTH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,113,010 | 6,298,150 | 5,147,330 | 4,506,300 | 3,677,840 |
| Total assets | US$ in thousands | 6,353,130 | 5,772,100 | 4,807,530 | 3,864,400 | 3,398,250 |
| Total asset turnover | 0.96 | 1.09 | 1.07 | 1.17 | 1.08 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,113,010K ÷ $6,353,130K
= 0.96
The total asset turnover of Meritage Homes Corp. has exhibited a general decreasing trend from 2019 to 2023. The ratio declined from 1.07 in 2019 to 0.96 in 2023, indicating that the company generated $0.96 in revenue for every $1 of assets in 2023. This decline may suggest that Meritage Homes Corp. is less efficient in generating sales from its assets in recent years. The decreasing trend should prompt further investigation into the company's asset management efficiency and operational performance to identify factors contributing to this decline and potential areas for improvement.
Peer comparison
Dec 31, 2023