Avient Corp (AVNT)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,240,400 | 3,142,800 | 3,396,900 | 4,818,800 | 3,242,100 |
| Total assets | US$ in thousands | 5,811,100 | 5,968,500 | 6,085,000 | 5,002,900 | 4,871,300 |
| Total asset turnover | 0.56 | 0.53 | 0.56 | 0.96 | 0.67 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,240,400K ÷ $5,811,100K
= 0.56
The total asset turnover ratio for Avient Corp has shown fluctuations over the past five years. In December 31, 2020, the total asset turnover was 0.67, indicating that the company generated $0.67 in revenue for every dollar of assets it held.
By December 31, 2021, the total asset turnover ratio improved to 0.96, suggesting that the company became more efficient in utilizing its assets to generate revenue. However, this improvement was followed by a decline in the ratio to 0.56 by December 31, 2022.
The trend continued with a further decrease in the total asset turnover to 0.53 by December 31, 2023, indicating a potential inefficiency in asset utilization during that period. However, by December 31, 2024, the ratio increased to 0.56, showing a slight improvement in utilizing assets to generate revenue compared to the previous year.
Overall, Avient Corp's total asset turnover has varied over the years, indicating the company's changing ability to generate revenue from its total assets. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational efficiency and asset management strategies.
Peer comparison
Dec 31, 2024