PNM Resources Inc (PNM)

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	1,939,198	2,102,903	2,326,940	2,349,514	2,249,555	2,107,811	1,932,474	1,859,284	1,779,873	1,705,074	1,622,988	1,554,097	1,523,012	1,507,880	1,469,001	1,441,580	1,457,603	1,457,215	1,446,295	1,468,380
Total assets	US$ in thousands	10,252,600	10,050,800	9,626,970	9,353,140	9,257,380	9,028,890	8,911,100	8,727,690	8,666,880	8,256,070	8,120,470	7,943,310	7,939,850	7,742,110	7,574,470	7,375,120	7,298,770	7,200,930	7,048,670	7,250,760
Total asset turnover		0.19	0.21	0.24	0.25	0.24	0.23	0.22	0.21	0.21	0.21	0.20	0.20	0.19	0.19	0.19	0.20	0.20	0.20	0.21	0.20

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,939,198K ÷ $10,252,600K
= 0.19

The total asset turnover ratio for PNM Resources Inc has shown fluctuations over the past eight quarters. The ratio measures the company's ability to generate revenue from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.

In Q4 2023, the total asset turnover was 0.19, which was the lowest among the data points provided. This suggests that for every dollar of assets, the company generated $0.19 in revenue during that period.

The ratio increased to 0.21 in Q3 2023, indicating a slight improvement in asset utilization compared to the previous quarter.

In Q2 2023, there was a significant increase in total asset turnover to 0.24, reflecting improved efficiency in generating revenue from assets. This was followed by a slight increase to 0.25 in Q1 2023, reaching the highest level in the data set.

Over the preceding quarters, the ratio remained relatively stable, ranging from 0.22 to 0.24, indicating a relatively consistent efficiency in asset utilization during that period.

Overall, the trend in total asset turnover for PNM Resources Inc suggests fluctuations in asset efficiency, with variations in revenue generation relative to total assets. An increasing trend in the ratio signifies improved asset utilization efficiency, while a decreasing trend may indicate potential inefficiencies in utilizing assets to generate revenue.