NV5 Global Inc (NVEE)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 483,233 | 861,739 | 786,778 | 706,706 | 659,296 |
| Total assets | US$ in thousands | 1,315,360 | 1,170,590 | 935,723 | 961,943 | 881,175 |
| Total asset turnover | 0.37 | 0.74 | 0.84 | 0.73 | 0.75 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $483,233K ÷ $1,315,360K
= 0.37
The total asset turnover ratio for NV5 Global Inc has fluctuated over the five-year period from 2020 to 2024. In 2020 and 2023, the company achieved a total asset turnover of 0.75 and 0.74, respectively, indicating that for each dollar of total assets, the company generated 75 and 74 cents in revenue.
However, in 2021 and 2024, the total asset turnover decreased to 0.73 and 0.37, suggesting a decline in efficiency in utilizing its total assets to generate revenue during those years. The lowest ratio in 2024 may raise concerns about the company's operational efficiency and effectiveness in utilizing its assets effectively.
On a positive note, in 2022, the total asset turnover ratio increased to 0.84, indicating an improvement in the company's ability to generate revenue from its total assets. This could be a result of more efficient asset management or increased sales generated by the assets.
Overall, the fluctuation in NV5 Global Inc's total asset turnover ratio over the years may indicate varying levels of efficiency in utilizing its total assets to generate sales revenue, highlighting the importance of monitoring and analyzing this ratio to assess the company's operational performance and financial health.
Peer comparison
Dec 31, 2024