American Axle & Manufacturing (AXL)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,124,900 | 6,079,500 | 5,802,400 | 5,156,600 | 4,710,800 |
| Total assets | US$ in thousands | 5,059,900 | 5,356,300 | 5,469,400 | 5,635,700 | 5,916,300 |
| Total asset turnover | 1.21 | 1.14 | 1.06 | 0.91 | 0.80 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,124,900K ÷ $5,059,900K
= 1.21
The total asset turnover ratio for American Axle & Manufacturing has shown a consistent improvement over the years. From 0.80 in December 2020, the ratio increased to 0.91 in December 2021, further to 1.06 in December 2022, and then to 1.14 in December 2023. By December 2024, the total asset turnover ratio reached 1.21, indicating that the company generated $1.21 in revenue for every dollar of total assets invested.
This progressive increase in the total asset turnover ratio reflects a more efficient utilization of the company's assets to generate sales over time. It suggests that American Axle & Manufacturing has been able to improve its operational efficiency and productivity in utilizing its assets to generate revenue. This can be a positive sign of effective asset management and operational performance within the company.
Peer comparison
Dec 31, 2024