Patrick Industries Inc (PATK)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,467,453 | 3,638,773 | 3,884,790 | 4,439,795 | 4,886,925 | 5,082,490 | 5,030,580 | 4,574,840 | 4,076,324 | 3,701,457 | 3,341,984 | 2,746,079 | 2,484,874 | 2,261,721 | 2,127,200 | 2,316,373 | 2,335,411 | 2,317,162 | 2,326,115 | 2,317,776 |
| Total assets | US$ in thousands | 2,562,450 | 2,655,940 | 2,707,030 | 2,816,830 | 2,782,470 | 2,896,650 | 3,024,830 | 2,971,380 | 2,650,730 | 2,358,460 | 2,224,710 | 1,834,880 | 1,753,440 | 1,574,940 | 1,492,800 | 1,522,160 | 1,470,990 | 1,451,130 | 1,330,910 | 1,355,180 |
| Total asset turnover | 1.35 | 1.37 | 1.44 | 1.58 | 1.76 | 1.75 | 1.66 | 1.54 | 1.54 | 1.57 | 1.50 | 1.50 | 1.42 | 1.44 | 1.42 | 1.52 | 1.59 | 1.60 | 1.75 | 1.71 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,467,453K ÷ $2,562,450K
= 1.35
The total asset turnover ratio measures the efficiency of a company in generating sales revenue from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.
Based on the data provided for Patrick Industries, Inc., we observe that the total asset turnover ratio has been fluctuating over the past eight quarters. The ratio ranged from a low of 1.35 in Q4 2023 to a high of 1.75 in Q4 2022 and Q3 2022.
The trend indicates that there has been a general decrease in the total asset turnover ratio over the last two quarters, from 1.58 in Q1 2023 to 1.35 in Q4 2023. This decline suggests that the company may be experiencing challenges in efficiently utilizing its assets to generate sales revenue.
Furthermore, comparing the ratios to historical data, we can see that the total asset turnover ratio in the most recent quarter (Q4 2023) is among the lowest in the provided data set. This could indicate a potential decrease in operational efficiency or a need for enhanced asset management strategies.
Overall, the analysis of Patrick Industries, Inc.'s total asset turnover suggests that the company may need to review its asset utilization and operational efficiency to improve its ability to generate revenue from its total assets.
Peer comparison
Dec 31, 2023