Patrick Industries Inc (PATK)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,715,679 | 3,650,743 | 3,597,372 | 3,501,437 | 3,468,045 | 3,638,773 | 3,884,790 | 4,439,795 | 4,881,875 | 5,077,440 | 5,025,530 | 4,569,790 | 4,078,093 | 3,703,226 | 3,343,753 | 2,747,848 | 2,486,597 | 2,263,444 | 2,128,923 | 2,318,096 |
| Total assets | US$ in thousands | 3,020,950 | 3,122,950 | 3,003,870 | 3,032,880 | 2,674,230 | 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 |
| Total asset turnover | 1.23 | 1.17 | 1.20 | 1.15 | 1.30 | 1.37 | 1.44 | 1.58 | 1.75 | 1.75 | 1.66 | 1.54 | 1.54 | 1.57 | 1.50 | 1.50 | 1.42 | 1.44 | 1.43 | 1.52 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,715,679K ÷ $3,020,950K
= 1.23
The total asset turnover of Patrick Industries Inc has shown fluctuations over the analyzed period, starting at 1.52 in March 2020 and experiencing a decline to 1.30 by December 2023. Following this downward trend, it reached its lowest point of 1.15 in March 2024. Subsequently, the total asset turnover started to recover, increasing to 1.23 by December 2024.
Overall, the total asset turnover indicates how efficiently the company is generating sales revenue from its assets. A higher total asset turnover ratio suggests better asset utilization, as the company is generating more sales per unit of assets. Conversely, a lower ratio may indicate inefficient asset utilization. In the case of Patrick Industries Inc, the ratio's fluctuation implies varying levels of efficiency in utilizing its assets to generate sales revenue during the analyzed period.
Peer comparison
Dec 31, 2024