NV5 Global Inc (NVEE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,276,230 | 1,126,510 | 1,010,090 | 941,231 | 506,663 |
| Total assets | US$ in thousands | 1,170,590 | 935,723 | 961,943 | 881,175 | 893,137 |
| Total asset turnover | 1.09 | 1.20 | 1.05 | 1.07 | 0.57 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,276,230K ÷ $1,170,590K
= 1.09
The total asset turnover for NV5 Global Inc has fluctuated over the past five years, ranging from a low of 0.57 in 2019 to a high of 1.20 in 2022. This ratio indicates how efficiently the company is generating revenue from its total assets. A higher total asset turnover suggests that the company is utilizing its assets more effectively to generate sales. The decrease in the ratio from 1.20 in 2022 to 1.09 in 2023 may indicate a slightly lower efficiency in utilizing assets to generate revenue in the most recent year. Overall, NV5 Global Inc has generally maintained a healthy total asset turnover ratio over the period under review, reflecting a reasonable level of efficiency in asset utilization.
Peer comparison
Dec 31, 2023