nVent Electric PLC (NVT)
Total asset turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,297,200 | 3,378,900 | 3,314,100 | 3,194,500 | 3,090,800 | 2,994,600 | 2,923,100 | 2,877,800 | 2,790,500 | 2,688,000 | 2,561,200 | 2,414,500 | 2,289,800 | 2,156,000 | 2,000,600 | 1,970,800 | 2,016,300 | 2,063,700 | 2,153,500 | 2,170,000 |
| Total assets | US$ in thousands | 6,918,000 | 6,188,100 | 6,169,700 | 6,161,700 | 5,925,700 | 5,922,100 | 4,916,400 | 4,902,200 | 4,875,900 | 4,765,600 | 4,703,600 | 4,674,200 | 4,678,900 | 4,709,800 | 4,398,000 | 4,366,100 | 4,410,600 | 4,712,400 | 4,730,200 | 4,640,300 |
| Total asset turnover | 0.48 | 0.55 | 0.54 | 0.52 | 0.52 | 0.51 | 0.59 | 0.59 | 0.57 | 0.56 | 0.54 | 0.52 | 0.49 | 0.46 | 0.45 | 0.45 | 0.46 | 0.44 | 0.46 | 0.47 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,297,200K ÷ $6,918,000K
= 0.48
nVent Electric PLC's total asset turnover ratio has fluctuated over the past few years, ranging between 0.45 and 0.59. This ratio indicates how efficiently the company is generating sales revenue from its assets. A higher total asset turnover ratio generally implies that the company is using its assets more efficiently to generate sales.
In the most recent period, as of September 30, 2024, nVent Electric PLC's total asset turnover ratio stood at 0.48, which suggests that for every dollar of assets, the company generated $0.48 in sales. While this ratio has decreased from the previous period in June 2024, it still remains within the range of historical values.
Overall, nVent Electric PLC's total asset turnover ratio indicates that the company has been fairly consistent in utilizing its assets to generate revenue. It is essential for the company to monitor and potentially improve this ratio to ensure ongoing operational efficiency and profitability.
Peer comparison
Sep 30, 2024