SkyWest Inc (SKYW)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,890,360	2,963,230	2,652,290	2,033,210	2,971,960
Total assets	US$ in thousands	7,026,290	7,414,550	7,125,950	6,887,620	6,657,130
Total asset turnover		0.41	0.40	0.37	0.30	0.45

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,890,360K ÷ $7,026,290K
= 0.41

The total asset turnover ratio for Skywest Inc. has fluctuated over the past five years. It increased from 0.31 in 2020 to 0.42 in 2023, indicating that the company generated more revenue for each dollar of assets during this period. However, it is important to note that the ratio dropped to 0.38 in 2021 before increasing again.

A total asset turnover ratio below 1 suggests that the company is not efficiently utilizing its assets to generate sales. In this case, the ratios for Skywest Inc. are generally below 1, indicating that the company may have excess assets relative to its sales.

Overall, the trend in Skywest Inc.'s total asset turnover ratio suggests improvements in asset utilization efficiency, albeit with some fluctuations. Further analysis and comparison with industry benchmarks would provide a more comprehensive assessment of the company's performance in this aspect.