Chemours Co (CC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,818,000 | 6,638,000 | 6,139,000 | 4,737,000 | 5,318,000 |
| Total assets | US$ in thousands | 8,251,000 | 7,640,000 | 7,550,000 | 7,082,000 | 7,258,000 |
| Total asset turnover | 0.71 | 0.87 | 0.81 | 0.67 | 0.73 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,818,000K ÷ $8,251,000K
= 0.71
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue relative to its total assets. Chemours Co's total asset turnover has shown some fluctuation over the past five years, ranging from 0.67 to 0.87.
In 2023, the total asset turnover decreased to 0.71 from 0.87 in 2022, indicating that the company generated $0.71 in sales for every dollar of total assets. This decrease suggests a decrease in efficiency in utilizing its assets to generate revenue.
Comparing 2023 to 2021 and 2019 when the total asset turnover was 0.81 and 0.73 respectively, we see that the company's efficiency in generating sales from its assets has declined. However, the total asset turnover in 2023 is higher than in 2020 when it was 0.67, indicating some improvement from the previous year.
Overall, the trend in Chemours Co's total asset turnover reflects fluctuations in the efficiency of asset utilization for generating sales revenue. It is important for the company to closely monitor this ratio to ensure optimal use of its assets in driving revenue growth.
Peer comparison
Dec 31, 2023