WEC Energy Group Inc (WEC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,893,000 | 9,597,400 | 8,316,000 | 7,241,700 | 7,523,100 |
| Total assets | US$ in thousands | 43,939,700 | 41,872,100 | 38,988,500 | 37,028,100 | 34,951,800 |
| Total asset turnover | 0.20 | 0.23 | 0.21 | 0.20 | 0.22 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,893,000K ÷ $43,939,700K
= 0.20
The total asset turnover of WEC Energy Group Inc has shown some fluctuations over the past five years. The ratios ranged from 0.20 to 0.23 during this period, with the highest value observed in December 2022.
A total asset turnover ratio of less than 1 indicates that the company is generating less than $1 of revenue for every $1 of total assets. In the case of WEC Energy Group Inc, the ratios ranging from 0.20 to 0.23 suggest that the company has not been efficient in utilizing its assets to generate revenue during these years.
Despite the slight variations in the ratio, the overall trend indicates that there may be room for improvement in utilizing the company's total assets more effectively to generate revenue. It is important for the company to analyze and address the factors contributing to this lower total asset turnover to enhance its operational efficiency and profitability in the future.
Peer comparison
Dec 31, 2023