Steel Dynamics Inc (STLD)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	18,718,800	22,260,800	18,408,800	9,601,480	10,465,000
Total assets	US$ in thousands	14,908,400	14,160,000	12,531,200	9,265,560	8,275,760
Total asset turnover		1.26	1.57	1.47	1.04	1.26

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $18,718,800K ÷ $14,908,400K
= 1.26

Steel Dynamics Inc.'s total asset turnover has exhibited fluctuations over the past five years. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher ratio implies more efficient asset utilization.

In 2023, the total asset turnover decreased to 1.26 from 1.57 in 2022. This decline may suggest a decrease in the company's ability to generate revenue relative to its asset base. However, the ratio still remains above 1, indicating that the company is generating revenue more than the value of its total assets.

The total asset turnover in 2021 was 1.47, showing a moderate increase from the previous year. This improvement suggests enhanced efficiency in asset utilization. In 2020, the ratio was 1.04, indicating a lower efficiency in generating revenue from assets compared to the previous year.

Notably, in 2019, the total asset turnover was also 1.26, the same as in 2023. This suggests that the company's efficiency in utilizing assets to generate revenue returned to a level similar to four years ago.

Overall, Steel Dynamics Inc.'s total asset turnover has shown variations over the years, reflecting fluctuations in the company's efficiency in generating revenue from its asset base. Further analysis of the company's operations and industry trends may provide insights into the underlying factors driving these fluctuations.