Thryv Holdings Inc (THRY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 916,961 | 1,202,390 | 1,113,380 | 1,109,440 | 1,421,370 |
| Total assets | US$ in thousands | 783,170 | 1,177,880 | 1,300,500 | 1,214,980 | 1,388,290 |
| Total asset turnover | 1.17 | 1.02 | 0.86 | 0.91 | 1.02 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $916,961K ÷ $783,170K
= 1.17
The total asset turnover of Thryv Holdings Inc has been steadily increasing over the past four years. In 2020, the company had a total asset turnover of 0.91, which then increased to 0.86 in 2021, followed by a further increase to 1.02 in 2022, and ultimately reaching 1.17 in 2023. This indicates that the company is generating more revenue relative to its total assets over time, reflecting an improvement in efficiency in utilizing its assets to generate sales. A higher total asset turnover ratio is generally seen as favorable as it signifies that the company is efficiently using its assets to generate revenue.