Archer-Daniels-Midland Company (ADM)
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 | 93,935,000 | 96,896,000 | 99,884,000 | 101,978,000 | 101,556,000 | 98,707,000 | 94,364,000 | 90,006,000 | 85,249,000 | 80,137,000 | 74,923,000 | 68,278,000 | 64,355,000 | 62,706,000 | 64,306,000 | 64,322,000 | 64,656,000 | 64,274,000 | 63,348,000 | 64,119,000 |
| Total assets | US$ in thousands | 54,631,000 | 55,093,000 | 55,499,000 | 58,802,000 | 59,774,000 | 58,304,000 | 61,828,000 | 64,866,000 | 56,136,000 | 52,298,000 | 50,958,000 | 51,478,000 | 49,719,000 | 44,795,000 | 44,341,000 | 48,395,000 | 43,997,000 | 41,804,000 | 42,616,000 | 43,151,000 |
| Total asset turnover | 1.72 | 1.76 | 1.80 | 1.73 | 1.70 | 1.69 | 1.53 | 1.39 | 1.52 | 1.53 | 1.47 | 1.33 | 1.29 | 1.40 | 1.45 | 1.33 | 1.47 | 1.54 | 1.49 | 1.49 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $93,935,000K ÷ $54,631,000K
= 1.72
Archer-Daniels-Midland Company's total asset turnover has displayed some fluctuations over the past few quarters. The ratio measures how efficiently the company generates revenue from its total assets.
The total asset turnover ratio for Archer-Daniels-Midland Company ranged from 1.29 to 1.80 in the last five quarters, indicating that the company has been able to generate between $1.29 to $1.80 in revenue for every dollar of assets during those periods.
Overall, the trend shows an improvement in the company's ability to generate revenue from its assets from 2019 to 2023, with some ups and downs in between. The increases in the ratio suggest that the company has been more efficient in utilizing its assets to generate sales over the past few quarters.
It is important to note that a higher total asset turnover ratio is generally favorable as it indicates that the company is effectively using its assets to generate sales. However, a very high ratio could also imply that the company may be relying too heavily on its assets to generate revenue.
In conclusion, the total asset turnover ratio for Archer-Daniels-Midland Company fluctuated but generally showed an upward trend over the analyzed period, suggesting improved efficiency in utilizing assets to generate revenue.
Peer comparison
Dec 31, 2023