Ufp Industries Inc (UFPI)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,218,390 | 7,607,740 | 8,102,960 | 8,959,910 | 9,626,740 | 9,729,840 | 9,500,760 | 9,300,430 | 8,636,120 | 8,013,030 | 7,405,480 | 5,946,940 | 5,154,000 | 4,758,330 | 4,435,130 | 4,432,950 | 4,416,010 | 4,406,151 | 4,455,821 | 4,510,441 |
| Total assets | US$ in thousands | 4,017,800 | 4,004,080 | 3,843,940 | 3,696,790 | 3,672,070 | 3,738,550 | 3,610,820 | 3,673,970 | 3,245,270 | 3,014,250 | 3,228,280 | 2,786,090 | 2,404,890 | 2,350,620 | 2,058,610 | 1,882,980 | 1,889,480 | 1,880,620 | 1,850,660 | 1,821,400 |
| Total asset turnover | 1.80 | 1.90 | 2.11 | 2.42 | 2.62 | 2.60 | 2.63 | 2.53 | 2.66 | 2.66 | 2.29 | 2.13 | 2.14 | 2.02 | 2.15 | 2.35 | 2.34 | 2.34 | 2.41 | 2.48 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $7,218,390K ÷ $4,017,800K
= 1.80
The total asset turnover ratio for Ufp Industries Inc has shown fluctuation over the past five years, ranging from a low of 2.02 to a high of 2.66. This ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales.
The ratio has generally been above 2, indicating that Ufp Industries Inc is effective in leveraging its assets to generate revenue. The peak ratio of 2.66 in the most recent quarter suggests that the company has improved its efficiency in utilizing assets to generate revenue compared to previous quarters.
Overall, the trend in the total asset turnover ratio for Ufp Industries Inc shows a generally positive efficiency in asset utilization, although there have been fluctuations. Further analysis and comparison with industry peers can provide additional insights into the company's operational efficiency and competitiveness.