UnitedHealth Group Incorporated (UNH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 371,622,000 | 324,162,000 | 287,597,000 | 257,141,000 | 242,155,000 |
| Total assets | US$ in thousands | 273,720,000 | 245,705,000 | 212,206,000 | 197,289,000 | 173,889,000 |
| Total asset turnover | 1.36 | 1.32 | 1.36 | 1.30 | 1.39 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $371,622,000K ÷ $273,720,000K
= 1.36
Total asset turnover measures how efficiently a company is utilizing its assets to generate revenue. A higher total asset turnover ratio indicates that the company is generating more sales revenue per dollar of assets.
For Unitedhealth Group Inc, the total asset turnover ratio has fluctuated over the past five years, ranging from 1.30 to 1.39. In 2023, the total asset turnover ratio was 1.36, which suggests that for every dollar of assets, the company generated $1.36 in revenue. This indicates a relatively efficient use of assets to generate sales compared to the previous year.
Overall, Unitedhealth Group Inc's total asset turnover ratios have been relatively stable, indicating consistent efficiency in utilizing its assets to drive revenue. It is essential to monitor this ratio over time to assess the company's ability to convert its assets into sales effectively.
Peer comparison
Dec 31, 2023