WEC Energy Group Inc (WEC)

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	8,893,000	9,233,900	9,279,500	9,577,400	9,597,400	9,240,900	8,984,400	8,532,700	8,316,000	8,047,500	7,952,000	7,824,500	7,241,700	7,255,800	7,212,800	7,254,300	7,523,100	7,652,400	7,688,100	7,770,400
Total assets	US$ in thousands	43,939,700	43,441,700	43,019,300	42,795,900	41,872,100	40,761,000	39,607,100	38,974,500	38,988,500	38,400,900	37,794,900	37,600,600	37,028,100	35,422,000	35,042,000	34,832,200	34,951,800	34,377,200	33,934,300	33,737,100
Total asset turnover		0.20	0.21	0.22	0.22	0.23	0.23	0.23	0.22	0.21	0.21	0.21	0.21	0.20	0.20	0.21	0.21	0.22	0.22	0.23	0.23

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,893,000K ÷ $43,939,700K
= 0.20

The total asset turnover ratio of WEC Energy Group Inc has remained relatively stable over the past eight quarters, ranging from 0.20 to 0.23. This ratio indicates that for each dollar of total assets, the company generates revenue ranging from 20 to 23 cents.

While the slight variations in the ratio suggest a consistent efficiency in utilizing its assets to generate revenue, the overall trend shows a moderate level of asset turnover. This could imply that WEC Energy Group Inc may not be maximizing the utilization of its assets to generate sales compared to some more asset-intensive industries.

Further analysis of the company's operations and industry benchmarks may provide additional insights into the effectiveness of its asset management strategies and potential areas for improvement to increase revenue generation from its assets.