Nextera Energy Inc (NEE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 24,708,000 | 23,278,000 | 19,042,000 | 16,976,000 | 17,604,000 |
| Total assets | US$ in thousands | 177,489,000 | 158,935,000 | 140,912,000 | 127,684,000 | 117,691,000 |
| Total asset turnover | 0.14 | 0.15 | 0.14 | 0.13 | 0.15 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $24,708,000K ÷ $177,489,000K
= 0.14
NextEra Energy Inc's total asset turnover has displayed some fluctuations over the past five years. The ratio measures how efficiently the company generates revenue from its total assets. A higher total asset turnover indicates that the company is more effective at utilizing its assets to generate revenue.
In 2023, the total asset turnover ratio improved to 0.16 from the previous year's 0.13. This suggests that NextEra Energy Inc was able to generate more revenue relative to its total assets in 2023, indicating improved asset utilization efficiency.
Comparing the ratio to 2021 and 2020, where it was 0.12 and 0.14 respectively, it appears that the company has made progress in optimizing its asset utilization. However, it is noteworthy that the ratio is still lower than the 2019 figure of 0.16, indicating that there may be room for further enhancement in asset efficiency.
Overall, the trend in NextEra Energy Inc's total asset turnover shows some variability, but the recent improvement in 2023 is a positive sign of enhanced efficiency in converting assets into revenue.
Peer comparison
Dec 31, 2023