Nucor Corp (NUE)
Total asset turnover
Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (ttm) | US$ in thousands | 34,713,500 | 35,732,930 | 37,458,000 | 39,729,240 | 41,512,560 | 43,153,000 | 42,965,400 | 39,960,060 | 36,483,900 | 31,379,560 | 25,994,320 | 21,532,470 | 20,139,670 | 20,011,360 | 20,547,900 | 22,116,580 | 22,588,860 | 23,752,990 | 25,030,690 | 25,595,470 |
Total assets | US$ in thousands | 35,340,500 | 34,267,800 | 33,379,900 | 32,246,400 | 32,479,200 | 32,072,700 | 31,668,500 | 28,632,900 | 25,823,100 | 24,949,500 | 22,995,600 | 21,172,400 | 20,125,400 | 19,519,300 | 18,766,000 | 17,866,100 | 18,344,700 | 18,506,300 | 18,126,500 | 18,086,700 |
Total asset turnover | 0.98 | 1.04 | 1.12 | 1.23 | 1.28 | 1.35 | 1.36 | 1.40 | 1.41 | 1.26 | 1.13 | 1.02 | 1.00 | 1.03 | 1.09 | 1.24 | 1.23 | 1.28 | 1.38 | 1.42 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $34,713,500K ÷ $35,340,500K
= 0.98
The total asset turnover ratio for Nucor Corp. has exhibited a fluctuating trend over the past eight quarters. During Q1 2022, the company generated $1.40 in revenue for every dollar of assets it held, indicating efficient asset utilization. Subsequently, the ratio declined gradually, reaching its lowest point of 0.98 in Q4 2023. This decrease suggests a relative decrease in revenue generated per dollar of assets during this period.
Fluctuations in total asset turnover may indicate varying levels of operational efficiency and asset utilization within Nucor Corp. Higher ratios, such as those observed in Q1 2022, are generally favorable as they signify that the company is generating more revenue relative to its asset base. Conversely, lower ratios, like the one recorded in Q4 2023, may point to potential inefficiencies in asset management or declining revenue generation capabilities.
It would be important for stakeholders to investigate the factors contributing to the fluctuations in total asset turnover to better understand Nucor Corp.'s operational performance and ability to effectively utilize its assets to generate revenue.
Peer comparison
Dec 31, 2023