Air Products and Chemicals Inc (APD)

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	12,422,700	12,600,000	12,978,700	13,134,100	12,879,100	12,698,600	11,969,700	11,385,100	10,942,000	10,323,000	9,802,000	9,262,500	8,976,800	8,856,300	8,819,400	8,978,200	8,949,600	8,918,900	8,934,600	8,969,600
Total assets	US$ in thousands	34,118,200	32,002,500	30,929,500	29,435,400	28,278,300	27,192,600	27,489,000	27,449,700	27,125,300	26,859,200	26,252,100	26,158,900	26,088,100	25,168,500	24,782,100	19,501,200	19,651,600	18,942,800	19,531,900	19,244,500
Total asset turnover		0.36	0.39	0.42	0.45	0.46	0.47	0.44	0.41	0.40	0.38	0.37	0.35	0.34	0.35	0.36	0.46	0.46	0.47	0.46	0.47

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $12,422,700K ÷ $34,118,200K
= 0.36

Air Products & Chemicals Inc.'s total asset turnover has been exhibiting a declining trend over the past few quarters, decreasing from 0.47 in Q4 2022 to 0.36 in Q1 2024. This indicates that the company is generating less revenue per dollar of assets employed in its operations. A lower total asset turnover ratio could suggest inefficiency in asset utilization or a decline in sales relative to the assets invested in the business. Further analysis and comparison with industry benchmarks and peer companies would be necessary to better understand the reasons behind this trend and to assess the company's overall operational efficiency and performance.

Peer comparison

Dec 31, 2023

Company name

Symbol

Total asset turnover

Air Products and Chemicals Inc

APD

0.36

Linde plc Ordinary Shares

LIN

0.40

Minerals Technologies Inc

MTX

0.63

Air Products and Chemicals Inc (APD)

Total asset turnover

Peer comparison

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