Quanta Services Inc (PWR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 20,695,300 | 16,964,300 | 12,920,400 | 11,160,700 | 12,051,100 |
| Total assets | US$ in thousands | 16,237,200 | 13,464,300 | 12,855,200 | 8,398,270 | 8,331,680 |
| Total asset turnover | 1.27 | 1.26 | 1.01 | 1.33 | 1.45 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $20,695,300K ÷ $16,237,200K
= 1.27
The total asset turnover of Quanta Services, Inc. has shown some fluctuations over the past five years. In 2023 and 2022, the total asset turnover ratios were 1.29 and 1.27, respectively, indicating that the company generated $1.29 and $1.27 in revenue for every dollar of total assets.
In 2021, the total asset turnover ratio decreased to 1.01, suggesting a lower efficiency in utilizing its assets to generate revenue. However, there was an improvement in 2020, with a total asset turnover ratio of 1.33, indicating increased efficiency in asset utilization compared to the previous year.
The highest total asset turnover ratio was observed in 2019 at 1.45, showing that the company generated $1.45 in revenue for each dollar of total assets during that year.
Overall, the trend of total asset turnover for Quanta Services, Inc. has been somewhat inconsistent, with fluctuations in efficiency in generating revenue from its total assets over the past five years. This variability may warrant further investigation to understand the factors driving these changes and to potentially improve asset utilization efficiency in the future.
Peer comparison
Dec 31, 2023