Oceaneering International Inc (OII)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,424,710	2,066,080	1,869,280	1,827,890	2,048,120
Total assets	US$ in thousands	2,239,010	2,031,680	1,962,860	2,045,840	2,740,660
Total asset turnover		1.08	1.02	0.95	0.89	0.75

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,424,710K ÷ $2,239,010K
= 1.08

The total asset turnover ratio measures how efficiently a company utilizes its total assets to generate revenue. A higher ratio indicates that the company is generating more revenue per dollar of assets.

Oceaneering International, Inc.'s total asset turnover has been showing a positive trend over the past five years. The ratio has been improving consistently from 0.75 in 2019 to 1.08 in 2023. This indicates that the company has become more efficient in generating revenue from its total assets over the years.

The increase in total asset turnover suggests that Oceaneering International, Inc. has been able to increase its revenue without a proportionate increase in its total assets. This could be a result of better asset management, improved operational efficiency, or effective utilization of resources.

Overall, the trend in Oceaneering International, Inc.'s total asset turnover ratio reflects positively on the company's ability to generate revenue efficiently from its total assets. It signifies effective management of resources and operational performance, which may contribute to the company's overall financial health and sustainability.