Patterson-UTI Energy Inc (PTEN)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,377,910 | 5,800,090 | 5,454,320 | 4,865,015 | 4,146,457 | 3,344,072 | 3,049,150 | 2,901,845 | 2,609,966 | 2,279,773 | 1,910,447 | 1,579,937 | 1,311,774 | 1,080,833 | 929,484 | 887,810 | 1,091,992 | 1,363,488 | 1,745,348 | 2,168,419 |
| Total assets | US$ in thousands | 5,833,470 | 5,963,680 | 7,022,330 | 7,226,190 | 7,420,030 | 7,420,570 | 3,117,200 | 3,092,340 | 3,143,820 | 3,042,000 | 2,959,980 | 2,888,960 | 2,957,850 | 3,017,460 | 3,073,310 | 3,171,840 | 3,299,070 | 3,491,220 | 3,624,800 | 3,870,280 |
| Total asset turnover | 0.92 | 0.97 | 0.78 | 0.67 | 0.56 | 0.45 | 0.98 | 0.94 | 0.83 | 0.75 | 0.65 | 0.55 | 0.44 | 0.36 | 0.30 | 0.28 | 0.33 | 0.39 | 0.48 | 0.56 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,377,910K ÷ $5,833,470K
= 0.92
Patterson-UTI Energy Inc's total asset turnover has shown fluctuations over the past few years. The ratio started at 0.56 as of March 31, 2020, and declined gradually to 0.28 by March 31, 2021. This indicates that the company's ability to generate revenue from its total assets decreased during this period.
However, there was a slight improvement in total asset turnover to 0.44 as of December 31, 2021. Subsequently, the ratio increased consistently, reaching a peak of 0.98 by June 30, 2023, signifying a significant enhancement in the efficiency of assets utilization in generating sales.
By the end of 2024, the total asset turnover was at 0.92, reflecting a slight decrease from the previous period. Overall, the trend indicates that Patterson-UTI Energy Inc has been able to better leverage its assets to generate revenue efficiently, with some fluctuations observed over the years.
Peer comparison
Dec 31, 2024