Southwest Gas Holdings Inc (SWX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,433,970 | 4,960,010 | 3,680,450 | 3,298,870 | 3,119,920 |
| Total assets | US$ in thousands | 11,869,900 | 13,196,600 | 12,765,300 | 8,735,850 | 8,170,050 |
| Total asset turnover | 0.46 | 0.38 | 0.29 | 0.38 | 0.38 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,433,970K ÷ $11,869,900K
= 0.46
Southwest Gas Holdings Inc's total asset turnover has shown a fluctuating trend over the past five years, ranging from 0.29 to 0.46. In 2023, the total asset turnover improved to 0.46 from 0.38 in 2022. This indicates that the company generated $0.46 in revenue for every dollar of assets it held in 2023.
The increase in total asset turnover could suggest that Southwest Gas Holdings Inc has been more efficient in utilizing its assets to generate revenue. This may be a positive indicator of the company's operational efficiency and effectiveness in managing its assets.
However, it is essential to note that a higher total asset turnover ratio does not always signify better performance, as it could also be influenced by various factors such as industry norms, asset base composition, and business strategy. Further analysis and comparison with industry peers would provide more insights into the company's asset utilization performance.
Peer comparison
Dec 31, 2023