Weatherford International PLC (WFRD)
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 | 5,023,000 | 4,982,000 | 4,789,000 | 4,579,000 | 4,331,000 | 4,087,000 | 3,912,000 | 3,751,000 | 3,645,000 | 2,718,000 | 3,357,000 | 4,096,000 | 4,479,000 | 5,656,000 | 5,386,000 | 5,053,000 | 5,184,000 | 5,315,000 | 5,445,000 | 5,584,000 |
| Total assets | US$ in thousands | 5,068,000 | 4,895,000 | 4,648,000 | 4,709,000 | 4,720,000 | 4,707,000 | 4,735,000 | 4,684,000 | 4,774,000 | 5,148,000 | 5,160,000 | 5,295,000 | 5,434,000 | 5,664,000 | 5,409,000 | 6,165,000 | 7,293,000 | 6,324,000 | 6,381,000 | 6,519,000 |
| Total asset turnover | 0.99 | 1.02 | 1.03 | 0.97 | 0.92 | 0.87 | 0.83 | 0.80 | 0.76 | 0.53 | 0.65 | 0.77 | 0.82 | 1.00 | 1.00 | 0.82 | 0.71 | 0.84 | 0.85 | 0.86 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,023,000K ÷ $5,068,000K
= 0.99
Weatherford International plc's total asset turnover has shown a generally increasing trend from Q1 2022 to Q3 2023, indicating an improvement in the company's ability to generate revenue relative to its total assets. The total asset turnover ratio measures how efficiently a company is utilizing its assets to generate sales.
In Q1 2022, the total asset turnover was 0.80, meaning that for every dollar of assets the company had, it generated $0.80 in sales revenue during that period. Subsequently, the ratio increased to 0.83 in Q2 2022, 0.87 in Q3 2022, and 0.92 in Q4 2022, indicating a positive trend towards more efficient asset utilization.
The positive trend continued into 2023, with total asset turnover reaching 0.97 in Q1 2023, 1.03 in Q2 2023, and then slightly decreasing to 1.02 in Q3 2023 and 1.01 in Q4 2023. These figures suggest that Weatherford International plc has been able to generate more sales relative to its total assets over time.
Overall, the increasing total asset turnover ratio reflects improved efficiency in asset utilization and suggests that the company is effectively managing its assets to generate revenue. This trend is generally positive and indicates potential operational improvements within Weatherford International plc.
Peer comparison
Dec 31, 2023