Nabors Industries Ltd (NBR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,849,710 | 2,370,550 | 2,472,160 | 2,597,540 | 3,502,510 |
| Total assets | US$ in thousands | 5,277,960 | 4,729,850 | 5,525,360 | 5,503,430 | 6,760,660 |
| Total asset turnover | 0.54 | 0.50 | 0.45 | 0.47 | 0.52 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,849,710K ÷ $5,277,960K
= 0.54
Nabors Industries Ltd's total asset turnover has varied over the past five years, ranging from 0.37 in 2021 to 0.57 in 2023. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue.
A higher total asset turnover ratio typically implies that the company is effectively using its assets to generate sales. In the case of Nabors Industries Ltd, the increasing trend from 2021 to 2023 suggests an improvement in asset utilization efficiency during this period.
However, it is essential to consider the industry norms and compare the ratio with competitors to gain a more comprehensive understanding of Nabors Industries Ltd's performance. Further analysis of the company's operations and financial health may provide additional insights into the factors influencing the total asset turnover ratio over the years.
Peer comparison
Dec 31, 2023