National Presto Industries Inc (NPK)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 340,912 | 321,623 | 355,777 | 352,627 | 308,510 |
| Total assets | US$ in thousands | 440,536 | 411,847 | 420,398 | 433,170 | 410,253 |
| Total asset turnover | 0.77 | 0.78 | 0.85 | 0.81 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $340,912K ÷ $440,536K
= 0.77
Total asset turnover measures how efficiently a company is generating sales revenue from its total assets. In the case of National Presto Industries Inc, the trend in total asset turnover over the past five years has been fluctuating.
In 2023, the total asset turnover ratio was 0.77, slightly lower than in the previous year, showcasing a decrease in the efficiency of utilizing assets to generate sales revenue. This could indicate that the company may not be effectively managing and utilizing its assets to drive sales.
Comparing to 2021, where the total asset turnover ratio was 0.85, the decrease in 2023 suggests a potential decline in efficiency in capital utilization. It is worth noting that in 2019, the total asset turnover was at its lowest at 0.75, indicating that the company has made some improvements in recent years.
Overall, National Presto Industries Inc's total asset turnover ratio has shown some variability over the years, indicating fluctuations in its ability to generate sales from its assets. The company may need to further analyze and optimize its asset management strategies to enhance efficiency and profitability.
Peer comparison
Dec 31, 2023