Par Pacific Holdings Inc (PARR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	8,174,410	7,264,530	4,643,600	3,054,650	5,326,680
Total assets	US$ in thousands	3,863,950	3,280,650	2,570,250	2,133,860	2,700,560
Total asset turnover		2.12	2.21	1.81	1.43	1.97

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $8,174,410K ÷ $3,863,950K
= 2.12

The total asset turnover ratio for Par Pacific Holdings Inc has fluctuated over the past five years. It increased from 2.00 in 2019 to 2.23 in 2022, indicating that the company generated $2.23 in sales for every $1 of assets it held in 2022. However, the ratio then decreased to 2.13 in 2023. Overall, the company has shown a strong ability to generate sales relative to its assets, with the ratio consistently above 1.0 in the past five years. This indicates efficient utilization of assets to generate revenue.