Bristol-Myers Squibb Company (BMY)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 48,300,000 | 45,006,000 | 46,159,000 | 46,385,000 | 42,518,000 |
| Total assets | US$ in thousands | 92,603,000 | 95,159,000 | 96,820,000 | 109,314,000 | 118,481,000 |
| Total asset turnover | 0.52 | 0.47 | 0.48 | 0.42 | 0.36 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $48,300,000K ÷ $92,603,000K
= 0.52
The total asset turnover ratio for Bristol-Myers Squibb Company has been increasing steadily over the past five years. It was 0.36 as of December 31, 2020, and improved to 0.52 by December 31, 2024. This indicates that the company generated $0.52 in revenue for every $1 of assets on its balance sheet at the end of 2024.
The rising trend in total asset turnover suggests that Bristol-Myers Squibb has been able to more efficiently utilize its assets to generate sales over the years. This could be attributed to improved operational efficiency, better inventory management, or effective asset utilization strategies. However, the slight decrease from 2023 to 2024 may warrant further investigation to understand the factors contributing to this fluctuation and whether it might impact the company's overall financial performance.
Peer comparison
Dec 31, 2024