B&G Foods Inc (BGS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,053,870	2,163,840	2,049,690	1,962,560	1,654,640
Total assets	US$ in thousands	3,463,290	3,841,610	3,828,540	3,767,570	3,227,590
Total asset turnover		0.59	0.56	0.54	0.52	0.51

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,053,870K ÷ $3,463,290K
= 0.59

The total asset turnover ratio of B&G Foods Inc has shown a consistent increase over the past five years, indicating an improvement in the company's efficiency in generating sales from its total assets. The ratio increased from 0.51 in 2019 to 0.59 in 2023. This upward trend suggests that the company is utilizing its assets more effectively to generate revenue. A higher total asset turnover ratio is generally preferred as it indicates that the company is generating more sales per dollar of assets invested. B&G Foods Inc's increasing total asset turnover ratio reflects positively on its operational efficiency and asset utilization.