American Axle & Manufacturing (AXL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,079,500 | 5,802,400 | 5,156,600 | 4,710,800 | 6,530,900 |
| Total assets | US$ in thousands | 5,356,300 | 5,469,400 | 5,635,700 | 5,916,300 | 6,644,600 |
| Total asset turnover | 1.14 | 1.06 | 0.91 | 0.80 | 0.98 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,079,500K ÷ $5,356,300K
= 1.14
American Axle & Manufacturing Holdings Inc's total asset turnover has shown an increasing trend over the past five years. The company's ability to generate sales from its total assets has improved steadily, with the ratio increasing from 0.98 in 2019 to 1.14 in 2023. This indicates that the company has become more efficient in utilizing its assets to generate revenue.
The total asset turnover ratio measures the efficiency of a company in using its assets to generate revenue. A higher total asset turnover ratio suggests that the company is able to generate more sales from its assets, indicating better operational performance and asset utilization.
Overall, the increasing trend in American Axle & Manufacturing Holdings Inc's total asset turnover ratio is a positive sign of the company's operational efficiency and effective management of its assets to drive revenue growth.
Peer comparison
Dec 31, 2023