Cactus Inc (WHD)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,090,880 | 692,436 | 438,080 | 349,742 | 629,748 |
| Total assets | US$ in thousands | 1,522,560 | 1,118,900 | 982,078 | 815,594 | 834,964 |
| Total asset turnover | 0.72 | 0.62 | 0.45 | 0.43 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,090,880K ÷ $1,522,560K
= 0.72
Cactus Inc's total asset turnover has fluctuated over the past five years, indicating varying efficiency levels in generating sales from its total assets. The ratio was at its highest in 2019 at 0.75, suggesting that the company was able to generate $0.75 in sales for every dollar invested in total assets. However, there was a significant drop in 2021 to 0.45, indicating a decrease in the company's ability to efficiently utilize its assets to generate revenue.
By analyzing the trend, we can see that Cactus Inc improved its asset turnover in 2022 and 2023 compared to 2021, indicating better efficiency in asset utilization during these years. Although the ratio remains below the peak level of 2019, the recent improvement suggests that the company may be focusing on optimizing its asset management practices to drive sales and improve overall performance.
Overall, Cactus Inc's total asset turnover performance reflects fluctuations in asset efficiency over the years, with recent improvements indicating a potential positive trend in asset utilization and revenue generation.
Peer comparison
Dec 31, 2023