Carrier Global Corp (CARR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 21,458,000 | 21,970,000 | 20,292,000 | 18,281,000 |
| Total assets | US$ in thousands | 32,822,000 | 26,086,000 | 26,172,000 | 25,093,000 |
| Total asset turnover | 0.65 | 0.84 | 0.78 | 0.73 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $21,458,000K ÷ $32,822,000K
= 0.65
The total asset turnover ratio for Carrier Global Corp has displayed fluctuations over the past five years. In 2023, the total asset turnover ratio stands at 0.67, indicating that for every dollar of total assets, the company generated 67 cents in revenue. This represents a decrease compared to the previous year, where the ratio was 0.78.
Looking back further, in 2021 and 2022, the total asset turnover ratios were relatively stable at 0.79 and 0.70, respectively. However, there was a notable decrease in 2020, with the ratio dropping to 0.70. The highest total asset turnover ratio in the provided data set was in 2019 at 0.83.
Overall, the trend in total asset turnover for Carrier Global Corp suggests some variability in the efficiency of utilizing its assets to generate revenue. It is important for the company to further analyze the factors influencing this ratio to ensure optimal asset utilization and sustainable growth.
Peer comparison
Dec 31, 2023