Tidewater Inc (TDW)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 968,844 | 627,918 | 341,080 | 375,228 | 486,549 |
| Total assets | US$ in thousands | 2,062,770 | 1,297,660 | 1,095,780 | 1,251,180 | 1,579,530 |
| Total asset turnover | 0.47 | 0.48 | 0.31 | 0.30 | 0.31 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $968,844K ÷ $2,062,770K
= 0.47
Tidewater Inc's total asset turnover ratio has fluctuated over the past five years, ranging from 0.30 to 0.48. A decreasing trend is observable from 0.48 in 2022 to 0.47 in 2023, indicating that the company generated slightly less revenue for each dollar of assets in the most recent year.
The ratio of 0.47 for 2023 suggests that Tidewater Inc generated $0.47 in revenue for every dollar of total assets owned. It implies that the company might not be efficiently utilizing its assets to generate sales compared to previous years, although the difference is relatively minimal.
Overall, Tidewater Inc's total asset turnover ratio remains relatively stable around the 0.30 to 0.48 range over the past five years, indicating a consistent level of efficiency in generating revenue relative to its asset base. It would be beneficial for the company to further investigate the factors contributing to the slight decrease in total asset turnover from 2022 to 2023 to ensure optimal asset utilization and revenue generation in the future.
Peer comparison
Dec 31, 2023