ServiceNow Inc (NOW)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,971,000 | 7,245,000 | 5,896,000 | 4,519,000 | 3,460,000 |
| Total assets | US$ in thousands | 17,387,000 | 13,299,000 | 10,798,000 | 8,715,000 | 6,022,430 |
| Total asset turnover | 0.52 | 0.54 | 0.55 | 0.52 | 0.57 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,971,000K ÷ $17,387,000K
= 0.52
ServiceNow Inc's total asset turnover has fluctuated over the past five years, ranging from 0.52 to 0.57. The metric measures the efficiency with which the company utilizes its assets to generate sales. A lower total asset turnover could indicate underutilization of assets, while a higher ratio suggests effective asset management. The trend in ServiceNow Inc's total asset turnover indicates a slight decrease from 2019 to 2020, followed by relatively stable figures in subsequent years. This trend may reflect changes in the company's asset management or sales generation strategies. However, further analysis of industry benchmarks and other financial metrics would provide additional insight into ServiceNow Inc's overall financial performance and asset utilization efficiency.
Peer comparison
Dec 31, 2023