AptarGroup Inc (ATR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,487,450 | 3,322,250 | 3,227,220 | 2,929,340 | 2,859,730 |
| Total assets | US$ in thousands | 4,451,890 | 4,203,460 | 4,141,360 | 3,990,050 | 3,562,120 |
| Total asset turnover | 0.78 | 0.79 | 0.78 | 0.73 | 0.80 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,487,450K ÷ $4,451,890K
= 0.78
Total asset turnover measures how efficiently a company generates sales revenue relative to its total assets. Aptargroup's total asset turnover has been relatively stable over the past five years, ranging between 0.73 and 0.80. This indicates that the company is generating around $0.78 to $0.80 in revenue for every dollar of assets it holds.
Generally, a higher total asset turnover ratio is preferred as it suggests that the company is effectively utilizing its assets to generate sales. Aptargroup's ratios are consistent and indicate a moderate level of asset utilization efficiency. It would be beneficial for the company to continue monitoring and improving this ratio to enhance overall operational efficiency.
Peer comparison
Dec 31, 2023