Agilent Technologies Inc (A)
Total asset turnover
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,784,000 | 6,774,000 | 6,236,000 | 5,271,000 | 5,073,000 |
| Total assets | US$ in thousands | 10,763,000 | 10,532,000 | 10,705,000 | 9,627,000 | 9,452,000 |
| Total asset turnover | 0.63 | 0.64 | 0.58 | 0.55 | 0.54 |
October 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,784,000K ÷ $10,763,000K
= 0.63
The total asset turnover ratio measures a company's efficiency in utilizing its assets to generate sales revenue. Agilent Technologies Inc.'s total asset turnover has shown fluctuating trends over the past five years. In 2023, the total asset turnover was 0.63, indicating that for every dollar of assets, Agilent generated $0.63 in sales. This was a slight decrease compared to 2022, where the ratio was 0.65. The decrease in the total asset turnover ratio could suggest a decrease in the efficiency of Agilent's asset utilization in generating sales revenue. However, it's important to consider industry and company-specific factors that may influence this ratio. It would be valuable to further investigate the reasons behind the fluctuation to assess the company's overall performance and asset management strategies.
Peer comparison
Oct 31, 2023