Axalta Coating Systems Ltd (AXTA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,184,100 | 4,884,400 | 4,416,200 | 3,737,600 | 4,482,200 |
| Total assets | US$ in thousands | 7,272,100 | 7,059,200 | 7,217,200 | 7,157,200 | 6,818,000 |
| Total asset turnover | 0.71 | 0.69 | 0.61 | 0.52 | 0.66 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,184,100K ÷ $7,272,100K
= 0.71
The total asset turnover of Axalta Coating Systems Ltd has shown fluctuations over the past five years. The metric has ranged from a low of 0.52 in 2020 to a high of 0.71 in 2023. Total asset turnover measures the efficiency with which the company generates sales revenue from its total assets. A higher total asset turnover indicates that the company is able to generate more revenue relative to its assets, reflecting better asset utilization.
In the case of Axalta Coating Systems Ltd, the trend has generally been increasing over the period, with a notable improvement from 2020 to 2021 and a peak in 2023. This suggests that the company has been more effective in utilizing its assets to generate revenue in recent years. However, the slight dip in 2022 indicates some fluctuation in asset efficiency during that period. Overall, the upward trend in total asset turnover is a positive indicator of the company's improving asset utilization efficiency, which could potentially lead to stronger financial performance in the future.
Peer comparison
Dec 31, 2023