Albany International Corporation (AIN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,126,480 | 1,027,600 | 913,291 | 868,834 | 1,054,130 |
| Total assets | US$ in thousands | 1,835,010 | 1,642,260 | 1,556,060 | 1,549,940 | 1,474,370 |
| Total asset turnover | 0.61 | 0.63 | 0.59 | 0.56 | 0.71 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,126,480K ÷ $1,835,010K
= 0.61
Albany International Corp.'s total asset turnover has been fairly consistent over the past five years. It was 0.63 in both 2023 and 2022, indicating that the company generated $0.63 in sales for every $1 of total assets during those years. This suggests that Albany was able to efficiently utilize its assets to generate revenue. The slight increase from 2021 (0.60) to 2022 is a positive sign of improving asset utilization efficiency.
In 2020, the total asset turnover was 0.58, which was slightly lower compared to the subsequent years. This could indicate potential inefficiencies in asset utilization or lower sales generation relative to total assets during that year.
The highest total asset turnover in the past five years was in 2019 at 0.71. This indicates that in 2019, Albany International Corp. was particularly efficient in generating sales compared to its total assets. Overall, the company has maintained a consistent performance in terms of total asset turnover, with minor fluctuations year over year.