Robert Half International Inc (RHI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,416,490 | 7,246,150 | 6,461,640 | 5,110,340 | 6,079,560 |
| Total assets | US$ in thousands | 3,010,790 | 2,964,490 | 2,952,360 | 2,557,420 | 2,311,410 |
| Total asset turnover | 2.13 | 2.44 | 2.19 | 2.00 | 2.63 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,416,490K ÷ $3,010,790K
= 2.13
Total asset turnover is a key financial ratio that measures a company's efficiency in generating revenue from its assets. Robert Half Inc's total asset turnover has fluctuated over the past five years, ranging from 2.00 to 2.63.
A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales. In 2023, the total asset turnover ratio decreased to 2.12 from 2.44 in 2022, suggesting that the company's ability to generate revenue from its assets declined during the year. This may be a result of various factors such as a decrease in sales or an increase in total assets.
Despite the decrease in 2023, Robert Half Inc's total asset turnover remains relatively strong compared to the industry average. It is important for the company to closely monitor this ratio and assess its asset utilization efficiency to ensure optimal performance and profitability in the future.
Peer comparison
Dec 31, 2023