Perdoceo Education Corp (PRDO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 732,186 | 695,895 | 693,473 | 689,494 | 631,716 |
| Total assets | US$ in thousands | 1,007,320 | 957,368 | 847,433 | 721,517 | 599,146 |
| Total asset turnover | 0.73 | 0.73 | 0.82 | 0.96 | 1.05 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $732,186K ÷ $1,007,320K
= 0.73
The total asset turnover ratio of Perdoceo Education Corporation has been on a declining trend over the past five years, decreasing from 1.05 in 2019 to 0.70 in 2023. This indicates that, on average, the company generated less revenue per dollar of assets invested in the business in 2023 compared to the previous years. A lower total asset turnover ratio could suggest inefficiencies in asset utilization or a decrease in sales relative to the size of the asset base. Further analysis is required to understand the specific factors contributing to this trend and to assess the company's overall operational effectiveness.
Peer comparison
Dec 31, 2023