Verra Mobility Corp (VRRM)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	103,570	94,318	39,977	13,302	388,008
Total assets	US$ in thousands	1,789,980	1,756,270	1,837,060	1,367,320	1,407,430
Total asset turnover		0.06	0.05	0.02	0.01	0.28

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $103,570K ÷ $1,789,980K
= 0.06

The total asset turnover of Verra Mobility Corp has shown a fluctuating trend over the past five years. The company's ability to generate sales from its total assets has improved from 0.32 in 2019 to 0.46 in 2023, indicating a more efficient utilization of assets to generate revenue. This suggests that the company has been successful in increasing its sales relative to its total asset base. However, it is important to note that the total asset turnover ratio was relatively lower in the years 2020 and 2021 at 0.29 and 0.30, respectively, before showing an upward trend in the subsequent years. Overall, the increasing trend in total asset turnover reflects positively on the company's operational efficiency and asset management strategies.