Patterson-UTI Energy Inc (PTEN)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,377,910 | 4,146,460 | 2,619,410 | 1,316,530 | 1,090,150 |
| Total assets | US$ in thousands | 5,833,470 | 7,420,030 | 3,143,820 | 2,957,850 | 3,299,070 |
| Total asset turnover | 0.92 | 0.56 | 0.83 | 0.45 | 0.33 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,377,910K ÷ $5,833,470K
= 0.92
The total asset turnover ratio for Patterson-UTI Energy Inc has shown significant fluctuations over the past five years.
In December 31, 2020, the total asset turnover ratio was 0.33, indicating that for every dollar of total assets, the company generated $0.33 in revenue. This suggests a relatively low level of efficiency in utilizing its assets to generate sales.
Moving to December 31, 2021, there was an improvement in the total asset turnover ratio to 0.45, signifying that the company became more effective in using its assets to generate revenue.
By December 31, 2022, the total asset turnover ratio surged to 0.83, showcasing a considerable enhancement in asset utilization efficiency. This indicates that the company was able to generate $0.83 in revenue for every dollar of total assets, reflecting improved operational performance.
However, by December 31, 2023, the total asset turnover ratio dropped to 0.56, suggesting a slight decline in asset utilization efficiency compared to the previous year.
Finally, by December 31, 2024, the total asset turnover ratio increased to 0.92, demonstrating a significant improvement in efficiency in converting total assets into revenue.
Overall, the trend in Patterson-UTI Energy Inc's total asset turnover ratio reflects fluctuations in the company's ability to generate revenue relative to its total assets, with notable improvements observed in recent years.
Peer comparison
Dec 31, 2024