MYR Group Inc (MYRG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Total assets | US$ in thousands | 1,578,750 | 1,398,860 | 1,121,090 | 995,859 | 1,007,870 |
| Total asset turnover | 2.31 | 2.15 | 2.23 | 2.25 | 2.05 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,643,180K ÷ $1,578,750K
= 2.31
MYR Group Inc's total asset turnover has shown a consistent trend of improvement over the past five years, increasing from 2.05 in 2019 to 2.31 in 2023. This indicates that the company is generating more revenue for each dollar of assets it owns. The upward trend suggests that MYR Group Inc has been effectively utilizing its assets to drive sales growth. A higher total asset turnover ratio typically reflects efficient asset management and effective business operations. It signifies that the company is able to convert its investments in assets into revenue more efficiently. Overall, the increasing trend in total asset turnover for MYR Group Inc reflects positively on the company's operational efficiency and management of its assets.
Peer comparison
Dec 31, 2023