AbbVie Inc (ABBV)

Total asset turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 54,318,000 58,054,000 56,197,000 45,804,000 33,266,000
Total assets US$ in thousands 134,711,000 138,805,000 146,529,000 150,565,000 89,115,000
Total asset turnover 0.40 0.42 0.38 0.30 0.37

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $54,318,000K ÷ $134,711,000K
= 0.40

The total asset turnover ratio, which measures a company's ability to generate sales from its assets, for Abbvie Inc has fluctuated over the past five years. In 2023, the total asset turnover ratio was 0.40, indicating that Abbvie generated $0.40 in revenue for every $1 of assets. This represents a slight decrease from the previous year's ratio of 0.42 in 2022.

Looking further back, the ratio was 0.38 in 2021, 0.30 in 2020, and 0.37 in 2019. The increase in total asset turnover from 2020 to 2021 suggests that Abbvie improved its efficiency in utilizing its assets to generate sales. However, the ratio declined in 2023, which could indicate a decrease in the company's sales relative to its asset base.

It is important for Abbvie to closely monitor and manage its total asset turnover ratio to ensure that the company is effectively utilizing its assets to drive sales and maximize profitability. Further analysis of the company's operational efficiency and asset management practices may provide insights into the factors influencing the total asset turnover performance over the years.


Peer comparison

Dec 31, 2023


See also:

AbbVie Inc Total Asset Turnover