Rush Enterprises A Inc (RUSHA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,925,020 | 7,101,670 | 5,126,140 | 4,735,940 | 5,809,850 |
| Total assets | US$ in thousands | 4,364,240 | 3,821,070 | 3,119,980 | 2,985,390 | 3,407,330 |
| Total asset turnover | 1.82 | 1.86 | 1.64 | 1.59 | 1.71 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $7,925,020K ÷ $4,364,240K
= 1.82
Rush Enterprises A Inc's total asset turnover has exhibited some fluctuations over the past five years. The ratio stood at 1.71 in 2019, increased to 1.86 in 2022, and then decreased to 1.82 in 2023. This indicates that the company generated $1.82 in sales for every dollar of total assets in 2023.
A higher total asset turnover ratio generally signifies that a company is utilizing its assets more efficiently to generate revenue. Despite the slight decline in 2023, Rush Enterprises A Inc's total asset turnover remains relatively consistent over the years, indicating a stable performance in asset utilization.
It is important for the company to continue monitoring and managing its assets effectively to ensure sustainable growth and profitability in the future.
Peer comparison
Dec 31, 2023