Ashland Global Holdings Inc (ASH)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,113,000 | 2,191,000 | 2,391,000 | 2,111,000 | 2,016,000 |
| Total assets | US$ in thousands | 5,645,000 | 5,939,000 | 6,213,000 | 6,612,000 | 6,877,000 |
| Total asset turnover | 0.37 | 0.37 | 0.38 | 0.32 | 0.29 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,113,000K ÷ $5,645,000K
= 0.37
The total asset turnover ratio for Ashland Global Holdings Inc has shown a consistent range over the past five years, with figures ranging between 0.29 and 0.38. The ratio indicates how efficiently the company is utilizing its assets to generate revenue, with a lower ratio generally suggesting lower efficiency in asset utilization.
In 2024 and 2023, the total asset turnover ratio remained stable at 0.37, indicating a consistent level of asset efficiency. The slight decrease in 2022 to 0.38 may suggest a slightly improved efficiency in asset utilization during that period. Notably, there was a significant increase in 2021 to 0.32, reflecting a potential dip in asset turnover efficiency compared to the previous year.
The lowest total asset turnover ratio was observed in 2020 at 0.29, indicating relatively lower efficiency in asset utilization during that year. Overall, the total asset turnover ratios for Ashland Global Holdings Inc suggest varying levels of asset efficiency over the five-year period, with fluctuations that may reflect changes in the company's operational performance and asset utilization strategies.
Peer comparison
Sep 30, 2024