Skechers USA Inc (SKX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,996,430 | 7,427,220 | 6,267,980 | 4,594,940 | 5,210,430 |
| Total assets | US$ in thousands | 7,547,350 | 6,893,490 | 6,491,280 | 5,812,370 | 4,892,940 |
| Total asset turnover | 1.06 | 1.08 | 0.97 | 0.79 | 1.06 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $7,996,430K ÷ $7,547,350K
= 1.06
Total asset turnover is a financial ratio that measures a company's ability to generate revenue relative to its total assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales.
For Skechers U S A, Inc., the total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover was 1.06, slightly lower than the previous year's figure of 1.08. This suggests a slight decrease in efficiency in generating revenue from the company's total assets.
Comparing the current ratio to earlier years, the company's total asset turnover was lower in 2021 and 2020 at 0.97 and 0.79, respectively. This indicates a decrease in efficiency during those years, with the company struggling to generate revenue in relation to its total assets.
On the other hand, Skechers U S A, Inc. had a higher total asset turnover in 2019 at 1.07, indicating that the company was more efficient in utilizing its assets to generate sales that year.
Overall, Skechers U S A, Inc.'s total asset turnover has varied over the past five years, with fluctuations in efficiency in generating revenue relative to its total assets. It is important for the company to analyze the reasons behind these fluctuations and potentially implement strategies to improve its asset utilization efficiency in the future.
Peer comparison
Dec 31, 2023