Tegna Inc (TGNA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,738,030 | 3,105,220 | 2,805,440 | 2,727,490 | 2,119,510 |
| Total assets | US$ in thousands | 7,000,060 | 7,328,900 | 6,917,650 | 6,848,700 | 6,953,980 |
| Total asset turnover | 0.39 | 0.42 | 0.41 | 0.40 | 0.30 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,738,030K ÷ $7,000,060K
= 0.39
The total asset turnover ratio measures the efficiency of a company in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is utilizing its assets more effectively to generate sales.
Based on the data provided for TEGNA Inc from 2019 to 2023, the total asset turnover ratio has shown a fluctuating trend. In 2019, the ratio was 0.33, indicating that the company generated $0.33 of revenue for every dollar of assets.
The ratio increased to 0.43 in 2020 and remained relatively stable in 2021 and 2022 at 0.43 and 0.45, respectively. This suggests that TEGNA Inc was able to improve its asset utilization efficiency during these years.
However, in 2023, the total asset turnover ratio decreased to 0.42, indicating a slight decline in the company's ability to generate sales from its assets compared to the previous year.
Overall, the total asset turnover ratio for TEGNA Inc has shown variability over the years, with some improvements in asset utilization efficiency but also a slight decline in the most recent year. Further analysis would be needed to understand the underlying reasons for these fluctuations and to assess the company's overall operational performance and efficiency.
Peer comparison
Dec 31, 2023