Murphy USA Inc (MUSA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 21,529,400 | 23,446,100 | 17,360,500 | 11,264,300 | 14,034,600 |
| Total assets | US$ in thousands | 4,340,100 | 4,123,200 | 4,048,200 | 2,685,700 | 2,687,200 |
| Total asset turnover | 4.96 | 5.69 | 4.29 | 4.19 | 5.22 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $21,529,400K ÷ $4,340,100K
= 4.96
Murphy USA Inc's total asset turnover has exhibited fluctuations over the past five years. In 2023, the total asset turnover ratio was 4.96, indicating that the company generated $4.96 in revenue for every $1 of total assets. This represents a decrease compared to the previous year, where the ratio was higher at 5.69.
The trend over the period shows variability, with the ratio reaching its peak in 2022 at 5.69 before declining in subsequent years. In 2021 and 2020, the total asset turnover was 4.29 and 4.19, respectively, suggesting a lower efficiency in generating revenue from total assets during those years. However, the ratio improved in 2019 to 5.22, showcasing a more efficient utilization of assets to generate revenue compared to the later years.
Overall, the fluctuations in the total asset turnover ratio indicate changes in the company's asset utilization efficiency and revenue generation capabilities over the years analyzed. Further analysis of the company's operations and financial performance is recommended to understand the factors driving these fluctuations and their implications for the company's financial health.
Peer comparison
Dec 31, 2023