Patrick Industries Inc (PATK)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,715,680 | 3,468,040 | 4,881,870 | 4,078,090 | 2,486,600 |
| Total assets | US$ in thousands | 3,020,950 | 2,562,450 | 2,782,470 | 2,650,730 | 1,753,440 |
| Total asset turnover | 1.23 | 1.35 | 1.75 | 1.54 | 1.42 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,715,680K ÷ $3,020,950K
= 1.23
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its assets. Patrick Industries Inc's total asset turnover has shown fluctuations over the years.
- In December 31, 2020, the total asset turnover was 1.42, indicating that for every dollar of assets, the company generated $1.42 in sales.
- By December 31, 2021, the total asset turnover increased to 1.54, suggesting improved efficiency in utilizing assets to generate revenue.
- The ratio further improved to 1.75 by December 31, 2022, signaling enhanced asset utilization and potentially stronger sales performance.
- However, by December 31, 2023, the total asset turnover decreased to 1.35, which may indicate a decline in efficiency in generating revenue from the assets.
- The ratio continued to decline to 1.23 by December 31, 2024, reflecting a further decrease in the company's ability to generate sales relative to its asset base.
Overall, the trend in Patrick Industries Inc's total asset turnover shows fluctuations in asset efficiency and sales generation over the years, highlighting the importance of closely monitoring and managing asset utilization to maximize revenue generation.
Peer comparison
Dec 31, 2024