Privia Health Group Inc (PRVA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 1,666,110 | 1,357,200 | 965,150 |
| Total assets | US$ in thousands | 999,900 | 792,813 | 686,373 |
| Total asset turnover | 1.67 | 1.71 | 1.41 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,666,110K ÷ $999,900K
= 1.67
The total asset turnover ratio measures the efficiency with which a company utilizes its assets to generate revenue. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.
In the case of Privia Health Group Inc, the total asset turnover ratio has fluctuated over the past three years. In 2023, the ratio decreased to 1.66 from 1.71 in 2022, indicating a slight decrease in the company's ability to generate revenue from its assets. However, it is important to note that a total asset turnover ratio of 1.66 still suggests that the company is efficiently using its assets to generate revenue.
Comparing the ratio to 1.41 in 2021, there has been an overall improvement in the efficiency of asset utilization by Privia Health Group Inc. This upward trend indicates that the company has been more effective in generating revenue from its assets over the last two years.
Overall, Privia Health Group Inc's total asset turnover ratio shows a generally positive trend, highlighting the company's ability to effectively utilize its assets to generate revenue. However, it is important for the company to continue monitoring and optimizing its asset utilization to maintain and improve its financial performance.
Peer comparison
Dec 31, 2023