MasTec Inc (MTZ)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,995,900 | 9,778,040 | 7,951,800 | 6,321,000 | 7,183,200 |
| Total assets | US$ in thousands | 9,373,510 | 9,293,260 | 7,121,400 | 5,227,900 | 4,997,000 |
| Total asset turnover | 1.28 | 1.05 | 1.12 | 1.21 | 1.44 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $11,995,900K ÷ $9,373,510K
= 1.28
MasTec Inc's total asset turnover ratio has fluctuated over the past five years, with values of 1.28 in 2023, 1.05 in 2022, 1.12 in 2021, 1.21 in 2020, and 1.44 in 2019. A higher total asset turnover ratio indicates that the company generates more revenue per dollar of assets, reflecting efficient asset utilization. Conversely, a lower ratio suggests inefficiency in utilizing assets to generate revenue.
The decreasing trend from 2019 to 2022 may indicate challenges in effectively deploying assets to generate revenue, potentially due to inefficiencies in operations or changes in the business environment. The slight increase in 2023 suggests a potential improvement in asset utilization efficiency.
Overall, further analysis of the company's operations and financial performance is needed to understand the factors influencing the total asset turnover ratio and to determine the effectiveness of MasTec Inc's asset management strategies.
Peer comparison
Dec 31, 2023