Tenet Healthcare Corporation (THC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 19,652,000 | 18,369,000 | 18,679,000 | 17,203,000 | 18,479,000 |
| Total assets | US$ in thousands | 28,312,000 | 27,156,000 | 27,579,000 | 27,106,000 | 23,365,000 |
| Total asset turnover | 0.69 | 0.68 | 0.68 | 0.63 | 0.79 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $19,652,000K ÷ $28,312,000K
= 0.69
The total asset turnover ratio of Tenet Healthcare Corp. has fluctuated over the past five years, ranging from 0.68 in 2020 to 0.79 in 2019. A higher total asset turnover ratio indicates that the company is generating more revenue for each dollar of assets it holds. In this case, Tenet Healthcare Corp.'s total asset turnover has generally been low, hovering around 0.71 in 2022 and 2021, with a slight increase to 0.73 in 2023. This suggests that the company may not be efficiently utilizing its assets to generate revenue compared to prior years. Further analysis would be needed to determine the underlying reasons for this trend and to evaluate the company's overall asset management efficiency.
Peer comparison
Dec 31, 2023