Ashland Global Holdings Inc (ASH)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,191,000 | 2,391,000 | 2,111,000 | 2,016,000 | 2,148,000 |
| Total assets | US$ in thousands | 5,939,000 | 6,213,000 | 6,612,000 | 6,877,000 | 7,251,000 |
| Total asset turnover | 0.37 | 0.38 | 0.32 | 0.29 | 0.30 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,191,000K ÷ $5,939,000K
= 0.37
The total asset turnover for Ashland Inc has experienced some fluctuations over the past five years. In 2023, the total asset turnover was 0.37, slightly lower than the previous year's 0.38. This suggests that the company generated $0.37 in revenue for every dollar of assets in 2023. The total asset turnover in 2021 was 0.32, demonstrating an increase from the prior year, but the ratio improved further to 0.34 in 2020 and maintained the same level in 2019. This indicates that the company's efficiency in generating sales from its total assets has shown some variability in recent years. It will be important for the company to closely monitor this ratio to ensure that its assets are being effectively utilized to generate revenue.
Peer comparison
Sep 30, 2023