N-Able Inc (NABL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 420,409 | 371,392 | 344,291 |
| Total assets | US$ in thousands | 1,162,790 | 1,078,860 | 1,055,700 |
| Total asset turnover | 0.36 | 0.34 | 0.33 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $420,409K ÷ $1,162,790K
= 0.36
The total asset turnover ratio for N-Able Inc has shown a positive trend over the past three years, increasing from 0.33 in 2021 to 0.34 in 2022 and further to 0.36 in 2023. This indicates that the company is generating more revenue relative to its total assets each year, reflecting improved efficiency in asset utilization. A higher total asset turnover ratio implies that the company is able to generate more sales with the same level of investment in assets, which can be a positive signal of operational effectiveness and potentially increased profitability. It suggests that N-Able Inc is effectively utilizing its assets to drive sales growth and maximize returns.
Peer comparison
Dec 31, 2023