The Andersons Inc (ANDE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,750,100 | 17,325,400 | 12,612,000 | 8,064,620 | 8,003,250 |
| Total assets | US$ in thousands | 3,855,010 | 4,608,000 | 4,569,220 | 4,272,120 | 3,900,740 |
| Total asset turnover | 3.83 | 3.76 | 2.76 | 1.89 | 2.05 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $14,750,100K ÷ $3,855,010K
= 3.83
Andersons Inc. has demonstrated a consistent improvement in its total asset turnover ratio over the past five years. The ratio has increased steadily from 2.09 in 2019 to 3.83 in 2023, indicating that the company has become more efficient in generating sales revenue relative to its total assets. This suggests that Andersons Inc. has been utilizing its assets effectively to drive sales growth and generate higher levels of revenue. The rising trend in total asset turnover is generally a positive indicator of operational efficiency and effective asset management within the company.
Peer comparison
Dec 31, 2023