Shenandoah Telecommunications Co (SHEN)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	297,401	285,771	253,739	229,875	612,538
Total assets	US$ in thousands	1,214,230	977,719	890,733	2,024,400	1,898,900
Total asset turnover		0.24	0.29	0.28	0.11	0.32

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $297,401K ÷ $1,214,230K
= 0.24

Shenandoah Telecommunications Co.'s total asset turnover has shown fluctuating trends over the past five years. The ratio declined from 0.34 in 2019 to 0.11 in 2020, indicating a significant decrease in efficiency in utilizing its assets to generate revenue. There was a slight improvement to 0.28 in 2021, suggesting better asset utilization. In 2022, the total asset turnover further increased to 0.27 but then decreased to 0.24 in 2023.

Overall, the company's total asset turnover ratio has exhibited inconsistency, with some improvements in asset efficiency over the period. However, there may be room for further enhancement in utilizing assets effectively to generate revenue.