NV5 Global Inc (NVEE)
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 | 1,259,381 | 1,179,473 | 1,145,347 | 1,121,586 | 1,126,509 | 1,091,459 | 1,072,465 | 1,048,555 | 1,010,092 | 967,430 | 949,570 | 930,193 | 941,447 | 619,405 | 583,798 | 552,757 | 507,709 | 490,455 | 463,578 | 439,429 |
| Total assets | US$ in thousands | 1,170,590 | 1,205,960 | 1,167,830 | 1,089,870 | 935,723 | 962,139 | 946,960 | 959,853 | 961,943 | 960,884 | 933,403 | 896,331 | 881,175 | 883,324 | 897,115 | 891,418 | 893,137 | 625,693 | 504,447 | 476,697 |
| Total asset turnover | 1.08 | 0.98 | 0.98 | 1.03 | 1.20 | 1.13 | 1.13 | 1.09 | 1.05 | 1.01 | 1.02 | 1.04 | 1.07 | 0.70 | 0.65 | 0.62 | 0.57 | 0.78 | 0.92 | 0.92 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,259,381K ÷ $1,170,590K
= 1.08
The total asset turnover ratio for NV5 Global Inc fluctuated over the past few years, ranging from as low as 0.57 to as high as 1.20. This ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher ratio indicates better efficiency in utilizing assets to generate sales.
In the most recent period, as of December 31, 2023, the total asset turnover ratio stands at 1.08, suggesting that the company generated $1.08 in revenue for every $1 of total assets. This indicates a relatively efficient use of assets to generate sales.
Overall, the trend shows some variability in the efficiency of asset utilization over time, with fluctuations around the average of approximately 1.0. It would be beneficial for NV5 Global Inc to consistently monitor and manage its asset turnover ratio to ensure optimal utilization of resources in driving revenue growth.
Peer comparison
Dec 31, 2023