AutoNation Inc (AN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 26,948,900 | 26,985,000 | 25,844,000 | 20,390,000 | 21,335,700 |
| Total assets | US$ in thousands | 11,980,000 | 10,059,700 | 8,943,600 | 9,887,200 | 10,543,300 |
| Total asset turnover | 2.25 | 2.68 | 2.89 | 2.06 | 2.02 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $26,948,900K ÷ $11,980,000K
= 2.25
Autonation Inc.'s total asset turnover has exhibited fluctuating trends over the past five years. From December 31, 2019, to December 31, 2023, the total asset turnover ratio ranged from 2.02 to 2.89. The ratio peaked in 2021 at 2.89 before experiencing a decline to 2.25 by the end of 2023.
A high total asset turnover indicates that Autonation Inc. efficiently utilizes its assets to generate sales revenue. However, the decreasing trend observed from 2021 to 2023 may suggest that the company's asset utilization efficiency weakened during this period.
Overall, the total asset turnover ratios suggest that Autonation Inc. has been effectively managing its assets to generate sales revenue, although the recent decline in the ratio warrants further investigation into the company's asset management practices and operational efficiency.
Peer comparison
Dec 31, 2023