Xcel Energy Inc (XEL)

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	14,206,000	14,817,000	15,237,000	15,639,000	15,310,000	14,612,000	13,997,000	13,641,000	13,431,000	13,023,000	12,738,000	12,256,000	11,526,000	11,377,000	11,208,000	11,199,000	11,529,000	11,611,000	11,646,000	11,727,000
Total assets	US$ in thousands	64,079,000	62,870,000	61,658,000	60,945,000	61,188,000	59,975,000	59,317,000	57,985,000	57,851,000	57,517,000	56,779,000	56,511,000	53,957,000	53,708,000	53,456,000	51,133,000	50,448,000	50,240,000	48,584,000	47,850,000
Total asset turnover		0.22	0.24	0.25	0.26	0.25	0.24	0.24	0.24	0.23	0.23	0.22	0.22	0.21	0.21	0.21	0.22	0.23	0.23	0.24	0.25

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,206,000K ÷ $64,079,000K
= 0.22

The total asset turnover ratio of Xcel Energy, Inc. has been relatively stable over the past eight quarters, ranging from 0.22 to 0.26. This ratio indicates that for every dollar of total assets the company has, it generates between $0.22 to $0.26 in revenue.

A total asset turnover ratio of less than 1 suggests that the company is not efficiently utilizing its assets to generate sales. In the case of Xcel Energy, Inc., the ratios consistently below 1 indicate that the company may have a large investment in assets relative to its revenue generation.

While the trend has shown some fluctuations, the consistency around the 0.24 to 0.26 range suggests that Xcel Energy, Inc. has not significantly improved its asset utilization efficiency in recent quarters. This might be an area for the company to focus on in order to improve its overall financial performance.