Ormat Technologies Inc (ORA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,330,450 | 1,202,510 | 1,097,640 | 705,342 | 746,044 |
| Total assets | US$ in thousands | 5,208,280 | 4,611,580 | 4,425,680 | 3,888,990 | 3,250,490 |
| Total asset turnover | 0.26 | 0.26 | 0.25 | 0.18 | 0.23 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,330,450K ÷ $5,208,280K
= 0.26
Ormat Technologies Inc's total asset turnover has shown fluctuations over the past five years. The ratio hovered around 0.16 in 2023 and 2022, indicating that the company generated $0.16 in revenue for every dollar of assets owned during those years. This suggests a consistent efficiency level in utilizing its assets to generate sales.
In 2021, the total asset turnover decreased slightly to 0.15, which could reflect either a decrease in sales generated from the assets or an increase in the asset base without a proportional rise in revenue. This might signal a decrease in asset efficiency compared to the previous years.
However, in 2020 and 2019, the total asset turnover was higher at 0.18 and 0.23, respectively. This indicates that the company was more effective in generating revenue from its assets during these years, potentially through increased sales or better asset management.
Overall, the trend in total asset turnover for Ormat Technologies Inc fluctuates, suggesting varying levels of asset utilization efficiency over the years. Further analysis of the company's operations and financial performance would be needed to determine the underlying reasons for these fluctuations and assess the effectiveness of its asset management strategies.
Peer comparison
Dec 31, 2023