Archer-Daniels-Midland Company (ADM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 93,935,000 | 101,556,000 | 85,249,000 | 64,355,000 | 64,656,000 |
| Total assets | US$ in thousands | 54,631,000 | 59,774,000 | 56,136,000 | 49,719,000 | 43,997,000 |
| Total asset turnover | 1.72 | 1.70 | 1.52 | 1.29 | 1.47 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $93,935,000K ÷ $54,631,000K
= 1.72
Archer-Daniels-Midland Company's total asset turnover has shown a generally increasing trend from 2019 to 2023. The ratio stood at 1.47 in 2019, increased to 1.52 in 2021, and further improved to 1.70 in 2022. Finally, as of December 31, 2023, the total asset turnover ratio reached 1.72.
This suggests that the company has been effectively utilizing its assets to generate sales over the years. A higher total asset turnover ratio indicates that the company efficiently generates revenue from its assets. The consistent improvement in this ratio reflects the company's ability to generate more sales using a relatively stable level of assets.
Overall, the increasing trend in total asset turnover for Archer-Daniels-Midland Company indicates a positive performance in terms of asset utilization and efficiency in generating revenue.
Peer comparison
Dec 31, 2023