Sun Country Airlines Holdings Inc (SNCY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 1,007,750 | 861,869 | 596,689 |
| Total assets | US$ in thousands | 1,623,630 | 1,524,410 | 1,380,420 |
| Total asset turnover | 0.62 | 0.57 | 0.43 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,007,750K ÷ $1,623,630K
= 0.62
The total asset turnover ratio of Sun Country Airlines Holdings Inc has shown a consistent improvement over the past three years. From 2021 to 2023, the ratio increased from 0.45 to 0.65, indicating that the company's ability to generate revenue from its total assets has strengthened. This improvement suggests that Sun Country Airlines is utilizing its assets more efficiently to generate sales. A higher total asset turnover ratio is generally viewed positively as it reflects the company's effectiveness in generating revenue relative to its asset base. The trend of increasing total asset turnover for Sun Country Airlines indicates improved operational efficiency and utilization of assets in generating sales.
Peer comparison
Dec 31, 2023