Northwest Natural Gas Co (NWN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,197,480 | 1,037,350 | 860,400 | 773,679 | 746,372 |
| Total assets | US$ in thousands | 4,867,090 | 4,748,330 | 4,064,600 | 3,756,380 | 3,428,450 |
| Total asset turnover | 0.25 | 0.22 | 0.21 | 0.21 | 0.22 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,197,480K ÷ $4,867,090K
= 0.25
The total asset turnover of Northwest Natural Holding Co has shown a fluctuating trend over the past five years. The ratio measures how efficiently the company generates sales relative to its total assets.
In 2023, the total asset turnover ratio increased to 0.25 compared to the previous year, indicating that the company generated $0.25 in sales for every $1 of total assets. This improvement suggests that the company was more efficient in utilizing its assets to generate revenue.
However, in 2022, the ratio decreased to 0.22, showing a slight drop in efficiency compared to the previous year. The subsequent years, 2021 and 2020, saw the ratio hovering around 0.21, indicating a relatively consistent level of asset utilization for generating sales.
Overall, the total asset turnover ratio of Northwest Natural Holding Co has remained relatively stable in recent years, with minor fluctuations. It is important for the company to monitor and potentially improve this ratio to ensure efficient utilization of its assets in driving revenue growth.
Peer comparison
Dec 31, 2023