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.


Peer comparison

Dec 31, 2023