AGCO Corporation (AGCO)
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 | 14,407,800 | 18,393,300 | 21,184,200 | 23,251,800 | 25,289,800 | 23,806,900 | 23,015,000 | 22,886,900 | 22,269,900 | 21,391,700 | 20,934,100 | 19,185,200 | 18,284,400 | 12,873,900 | 12,094,900 | 12,926,600 | 13,061,500 | 18,200,000 | 18,410,000 | 18,624,800 |
| Total assets | US$ in thousands | 11,421,200 | 11,351,100 | 11,394,000 | 10,811,600 | 10,103,700 | 9,818,100 | 9,888,900 | 9,876,500 | 9,182,100 | 8,941,900 | 8,863,300 | 8,312,300 | 8,504,200 | 7,940,300 | 7,778,000 | 7,705,700 | 7,759,700 | 8,079,200 | 8,415,100 | 8,204,300 |
| Total asset turnover | 1.26 | 1.62 | 1.86 | 2.15 | 2.50 | 2.42 | 2.33 | 2.32 | 2.43 | 2.39 | 2.36 | 2.31 | 2.15 | 1.62 | 1.56 | 1.68 | 1.68 | 2.25 | 2.19 | 2.27 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,407,800K ÷ $11,421,200K
= 1.26
AGCO Corp.'s total asset turnover ratio has shown consistency in recent quarters, ranging between 1.16 to 1.28. This ratio measures the efficiency at which the company generates sales revenue in relation to its total assets.
The company's total asset turnover has generally been stable, with a slight upward trend in the last two quarters of 2023. This indicates that AGCO Corp. is effectively utilizing its assets to generate sales revenue. A ratio above 1 suggests that the company is generating more in sales than the value of its total assets, reflecting strong asset utilization.
While the variations in the ratio from quarter to quarter are not significant, AGCO Corp. should continue to monitor and strive to maintain an optimal balance between asset utilization and sales generation to ensure sustained operational efficiency and profitability.
Peer comparison
Dec 31, 2023