Balchem Corporation (BCPC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 922,439 | 942,358 | 799,023 | 703,644 | 643,705 |
| Total assets | US$ in thousands | 1,597,210 | 1,624,510 | 1,199,320 | 1,165,840 | 1,155,680 |
| Total asset turnover | 0.58 | 0.58 | 0.67 | 0.60 | 0.56 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $922,439K ÷ $1,597,210K
= 0.58
Balchem Corp.'s total asset turnover has fluctuated over the past five years. The ratio ranged from 0.56 in 2019 to 0.67 in 2021, indicating variability in how efficiently the company generates revenue from its total assets. In 2023 and 2022, the total asset turnover remained stable at 0.58. A total asset turnover below 1 suggests that the company is not generating substantial revenue relative to its total assets, which may indicate inefficiencies in asset utilization or lower sales volumes. It is essential for Balchem Corp. to assess and improve its asset management strategies to enhance its overall financial performance and efficiency in utilizing its asset base.
Peer comparison
Dec 31, 2023