Verizon Communications Inc (VZ)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 133,974,000 | 136,835,000 | 133,613,000 | 128,292,000 | 131,868,000 |
| Total assets | US$ in thousands | 380,255,000 | 379,680,000 | 366,596,000 | 316,481,000 | 291,727,000 |
| Total asset turnover | 0.35 | 0.36 | 0.36 | 0.41 | 0.45 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $133,974,000K ÷ $380,255,000K
= 0.35
Verizon Communications Inc's total asset turnover has shown a declining trend over the past five years, falling from 0.45 in 2019 to 0.35 in 2023. This indicates that the company generated $0.35 in revenue for every $1 of total assets in 2023. A decreasing total asset turnover may suggest inefficiencies in asset utilization or declining sales relative to the size of its asset base. It could be a signal for management to review its operational efficiency, asset management strategies, and revenue generation activities to improve this ratio in the future.
Peer comparison
Dec 31, 2023
Company name
Symbol
Total asset turnover
Verizon Communications Inc
VZ
0.35
AT&T Inc
T
0.30
Consolidated Communications
CNSL
0.30
Frontier Communications Parent Inc
FYBR
0.28
Lumen Technologies Inc
LUMN
0.43
Shenandoah Telecommunications Co
SHEN
0.24
Telephone and Data Systems Inc
TDS
0.37