Albemarle Corp (ALB)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	5,377,530	9,617,200	7,320,100	3,327,960	3,128,910
Total assets	US$ in thousands	16,609,600	18,270,700	15,456,500	10,974,100	10,450,900
Total asset turnover		0.32	0.53	0.47	0.30	0.30

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $5,377,530K ÷ $16,609,600K
= 0.32

The total asset turnover ratio for Albemarle Corp has fluctuated over the past five years. In 2020 and 2021, the ratio remained stable at 0.30, indicating that for each dollar of total assets, the company generated $0.30 in revenue. There was a notable increase in 2022 to 0.47, suggesting that the company became more efficient in utilizing its assets to generate revenue. This improvement continued in 2023, reaching a ratio of 0.53, reflecting an even higher level of asset productivity. However, in 2024, the total asset turnover dropped back to 0.32, indicating a potential decline in asset utilization efficiency compared to the prior year. Overall, while there have been fluctuations, the general trend shows an improvement in asset turnover efficiency, with the company generating more revenue per dollar of assets in recent years.