Armstrong World Industries Inc (AWI)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,247,800	1,230,300	1,097,100	912,800	1,035,400
Total assets	US$ in thousands	1,672,400	1,687,200	1,710,000	1,718,500	1,493,300
Total asset turnover		0.75	0.73	0.64	0.53	0.69

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,247,800K ÷ $1,672,400K
= 0.75

Armstrong World Industries Inc.'s total asset turnover has exhibited fluctuating trends over the past five years. The firm's ability to generate sales from its total assets improved from 2020 to 2021 before experiencing a decline in 2022. However, there was a notable increase in total asset turnover in 2023 compared to the previous year, reaching 0.77. This indicates that the company generated $0.77 in sales for every dollar of total assets during 2023. Overall, the recent improvement in total asset turnover suggests a more efficient utilization of the company's assets to drive sales, reflecting positively on Armstrong World Industries Inc.'s operational performance in the latest period.