Ball Corporation (BALL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 13,557,000 | 15,054,000 | 13,623,000 | 11,567,000 | 11,319,000 |
| Total assets | US$ in thousands | 19,303,000 | 19,909,000 | 19,714,000 | 18,252,000 | 17,360,000 |
| Total asset turnover | 0.70 | 0.76 | 0.69 | 0.63 | 0.65 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $13,557,000K ÷ $19,303,000K
= 0.70
Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. A higher total asset turnover ratio indicates better efficiency in asset utilization.
Ball Corp.'s total asset turnover has shown fluctuations over the past five years. In 2023, the total asset turnover ratio decreased to 0.73 from 0.77 in 2022, but remained relatively stable compared to previous years. This suggests that Ball Corp. generated $0.73 in revenue for every dollar of assets in 2023.
The trend indicates that Ball Corp. has been able to slightly improve its asset turnover since 2020 when the ratio was 0.65. However, the company's efficiency in asset utilization in 2023 was still lower than in 2022. Overall, Ball Corp. may need to focus on optimizing its asset management to improve its total asset turnover and increase revenue generation from its existing asset base.
Peer comparison
Dec 31, 2023