Barnes Group Inc (B)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,388,550 | 1,247,580 | 1,243,100 | 1,107,020 | 1,463,750 |
| Total assets | US$ in thousands | 3,308,010 | 2,413,700 | 2,576,800 | 2,676,200 | 2,738,300 |
| Total asset turnover | 0.42 | 0.52 | 0.48 | 0.41 | 0.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,388,550K ÷ $3,308,010K
= 0.42
Total asset turnover is a key financial ratio that measures a company's ability to generate sales revenue in relation to its total assets. Barnes Group Inc.'s total asset turnover ratio has fluctuated over the past five years, ranging from 0.42 in 2020 to 0.54 in 2019. In 2023, the total asset turnover ratio decreased to 0.44 from 0.52 in 2022.
A total asset turnover ratio of less than 1 indicates that the company is not efficiently generating sales relative to its asset base. A decreasing trend in this ratio could suggest that Barnes Group Inc. is becoming less efficient in generating sales revenue from its assets. It is important for the company to closely monitor and potentially improve its asset management and utilization to enhance its overall operational efficiency and profitability.
Peer comparison
Dec 31, 2023