Schlumberger NV (SLB)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 32,632,000 | 27,708,000 | 22,390,000 | 23,142,000 | 32,308,000 |
| Total assets | US$ in thousands | 47,957,000 | 43,135,000 | 41,511,000 | 42,434,000 | 56,312,000 |
| Total asset turnover | 0.68 | 0.64 | 0.54 | 0.55 | 0.57 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $32,632,000K ÷ $47,957,000K
= 0.68
Schlumberger Ltd.'s total asset turnover has exhibited a fluctuating trend over the past five years, ranging from 0.55 to 0.69. The total asset turnover indicates the efficiency with which the company utilizes its assets to generate sales. A higher ratio suggests better asset utilization.
The 2023 ratio of 0.69 reflects an improvement compared to the previous year, indicating that Schlumberger has been able to generate more revenue for each dollar of assets. This suggests improved efficiency in utilizing its assets to drive sales. However, it is essential to note that the ratio is influenced by various factors such as changes in sales volume, asset base, and industry dynamics.
The trend in total asset turnover should be further analyzed in conjunction with other financial metrics and business dynamics to gain a comprehensive understanding of Schlumberger's asset management and operational performance.
Peer comparison
Dec 31, 2023