Avantor Inc (AVTR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	6,967,200	7,512,400	7,386,100	6,393,600	6,040,300
Total assets	US$ in thousands	12,972,700	13,464,300	13,897,200	9,906,500	9,773,300
Total asset turnover		0.54	0.56	0.53	0.65	0.62

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $6,967,200K ÷ $12,972,700K
= 0.54

Total asset turnover is a key financial ratio that measures a company's ability to generate revenue from its assets. It indicates how efficiently a company is utilizing its assets to generate sales. Avantor Inc's total asset turnover has fluctuated over the past five years, with values ranging from 0.53 to 0.65.

The trend in Avantor Inc's total asset turnover shows some variability, suggesting changes in the company's asset utilization efficiency over the years. A lower total asset turnover ratio may indicate that the company is not effectively using its assets to generate sales, while a higher ratio suggests greater efficiency in generating revenue from its assets.

Overall, the trend in Avantor Inc's total asset turnover indicates that the company's asset utilization efficiency has fluctuated, which may be due to changes in the company's operations, investments in new assets, or shifts in market demand. Further analysis of the company's operations and industry trends would provide more insight into the factors impacting its total asset turnover ratio.