Total Asset Turnover
since 2014
Calculation
Paycom Software Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.35 | = | 1,375,218) | ÷ | 3,902,513) |
| Dec 31, 2021 | 0.33 | = | 1,055,524) | ÷ | 3,215,145) |
| Dec 31, 2020 | 0.32 | = | 841,434) | ÷ | 2,607,912) |
| Dec 31, 2019 | 0.30 | = | 737,671) | ÷ | 2,486,917) |
| Dec 31, 2018 | 0.37 | = | 566,336) | ÷ | 1,521,926) |
| Dec 31, 2017 | 0.32 | = | 433,047) | ÷ | 1,355,164) |
| Dec 31, 2016 | 0.31 | = | 329,141) | ÷ | 1,078,613) |
| Dec 31, 2015 | 0.26 | = | 224,653) | ÷ | 876,773) |
| Dec 31, 2014 | 0.19 | = | 150,929) | ÷ | 798,942) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
1 US$ in thousands
The financial performance from 2014 to 2022 is characterized by substantial growth in both revenue generation and asset accumulation, with a general improvement in operational efficiency regarding asset utilization.
- Revenue Growth Trends
- Revenues experienced a consistent and significant upward trajectory throughout the period, increasing from 150,929 thousand US dollars in 2014 to 1,375,218 thousand US dollars by 2022. This represents a sustained expansion of the top line over the nine-year interval.
- Asset Accumulation
- Total assets grew from 798,942 thousand US dollars in 2014 to 3,902,513 thousand US dollars in 2022. A notable acceleration in asset growth occurred between 2018 and 2019, where total assets increased from 1,521,926 thousand US dollars to 2,486,917 thousand US dollars.
- Total Asset Turnover Analysis
- The total asset turnover ratio improved from 0.19 in 2014 to a peak of 0.37 in 2018, indicating an increasing ability to generate revenue per unit of asset. A temporary decline to 0.30 was observed in 2019, coinciding with the sharp increase in the asset base. Following this dip, the ratio recovered steadily, reaching 0.35 by the end of 2022.
- Efficiency Correlation
- While assets grew by approximately 388% over the period, revenues grew by approximately 811%. This disparity explains the overall increase in the asset turnover ratio, suggesting that revenue growth has outpaced asset expansion, thereby enhancing overall asset productivity despite the periodic volatility observed in 2019.
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Comparison to Industry (Industrials)
Paycom Software Inc., total asset turnover, long-term trends, comparison to industry (industrials)
| Paycom Software Inc. | Industrials | |
|---|---|---|
| Dec 31, 2022 | 0.35 | 0.66 |
| Dec 31, 2021 | 0.33 | 0.58 |
| Dec 31, 2020 | 0.32 | 0.50 |
| Dec 31, 2019 | 0.30 | 0.62 |
| Dec 31, 2018 | 0.37 | 0.67 |
| Dec 31, 2017 | 0.32 | 0.62 |
| Dec 31, 2016 | 0.31 | 0.61 |
| Dec 31, 2015 | 0.26 | 0.54 |
| Dec 31, 2014 | 0.19 | 0.49 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).