B&G Foods Inc (BGS)

Total asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,052,603	2,101,161	2,126,816	2,136,150	2,163,842	2,112,055	2,098,643	2,084,061	2,049,689	1,989,304	1,970,098	2,018,262	1,962,498	1,927,840	1,838,392	1,697,050	1,660,414	1,648,297	1,636,656	1,625,684
Total assets	US$ in thousands	3,463,290	3,956,850	3,718,710	3,752,440	3,841,610	3,983,570	3,916,920	3,839,350	3,828,540	3,946,140	3,761,420	3,741,200	3,767,570	3,278,900	3,251,820	3,318,780	3,227,590	3,572,260	3,171,770	3,074,180
Total asset turnover		0.59	0.53	0.57	0.57	0.56	0.53	0.54	0.54	0.54	0.50	0.52	0.54	0.52	0.59	0.57	0.51	0.51	0.46	0.52	0.53

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,052,603K ÷ $3,463,290K
= 0.59

The total asset turnover ratio of B&G Foods Inc has displayed some fluctuations over the periods reviewed. Generally, the company has maintained a range between 0.46 to 0.59 in the last few years. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher ratio suggests better asset utilization efficiency.

In the most recent quarter, the total asset turnover was reported at 0.59, representing an improvement from the previous quarter. This increase may indicate that the company has been more effective in generating sales relative to its total assets. However, it is important to note that the ratio was also relatively high in the same period in the previous year, suggesting a potential cyclical pattern in the company's asset turnover performance.

Overall, B&G Foods Inc should continue to monitor and analyze its total asset turnover ratio to ensure optimal asset efficiency and effective management of resources to support revenue growth in a sustainable manner.