MYR Group Inc (MYRG)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,362,290 | 3,643,900 | 3,008,540 | 2,498,290 | 2,247,390 |
| Total assets | US$ in thousands | 1,574,060 | 1,578,750 | 1,398,860 | 1,121,090 | 995,859 |
| Total asset turnover | 2.14 | 2.31 | 2.15 | 2.23 | 2.26 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,362,290K ÷ $1,574,060K
= 2.14
The total asset turnover ratio for MYR Group Inc has been relatively stable over the past five years, fluctuating within a narrow range. It stood at 2.26 in December 31, 2020, slightly decreasing to 2.23 by December 31, 2021. Subsequently, there was a further decline to 2.15 by December 31, 2022, indicating a reduced efficiency in generating sales from the company's total assets. However, the ratio rebounded significantly to 2.31 by December 31, 2023, showing an improvement in the utilization of assets to generate revenue. Nevertheless, by December 31, 2024, the total asset turnover decreased again to 2.14, suggesting a potential need for more effective asset management strategies to enhance revenue generation efficiency. Overall, the company should continue monitoring and improving its total asset turnover to maximize sales relative to its total asset base.
Peer comparison
Dec 31, 2024