Pinnacle West Capital Corp (PNW)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,695,990	4,324,380	3,803,840	3,586,980	3,471,210
Total assets	US$ in thousands	24,661,200	22,723,400	22,003,200	20,020,400	18,479,200
Total asset turnover		0.19	0.19	0.17	0.18	0.19

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,695,990K ÷ $24,661,200K
= 0.19

Pinnacle West Capital Corp.'s total asset turnover has remained relatively stable over the past five years, fluctuating within a narrow range between 0.17 and 0.19. This indicates that the company generates approximately $0.19 in revenue for every dollar of assets it holds.

A total asset turnover of 0.19 suggests that Pinnacle West Capital Corp. may be effectively utilizing its assets to generate revenue. However, it is essential to consider industry benchmarks and trends to fully evaluate the efficiency of asset utilization.

Overall, the consistency in the total asset turnover ratio implies that Pinnacle West Capital Corp. has maintained a steady level of asset efficiency in generating revenue over the years, albeit with slight variations. Further analysis and comparison with industry peers would provide more insights into the company's operational performance.