Chemours Co (CC)
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 | 5,881,000 | 5,818,000 | 6,130,000 | 6,410,000 | 6,639,000 | 6,872,000 | 6,744,000 | 6,477,000 | 6,141,000 | 5,876,000 | 5,441,000 | 4,873,000 | 4,737,000 | 4,824,000 | 4,981,000 | 5,297,000 | 5,371,000 | 5,668,000 | 5,912,000 | 6,286,000 |
| Total assets | US$ in thousands | 8,251,000 | 7,948,000 | 7,660,000 | 7,624,000 | 7,640,000 | 7,745,000 | 7,730,000 | 7,524,000 | 7,550,000 | 7,530,000 | 7,479,000 | 7,170,000 | 7,082,000 | 6,948,000 | 7,034,000 | 6,948,000 | 7,258,000 | 7,456,000 | 7,433,000 | 7,325,000 |
| Total asset turnover | 0.71 | 0.73 | 0.80 | 0.84 | 0.87 | 0.89 | 0.87 | 0.86 | 0.81 | 0.78 | 0.73 | 0.68 | 0.67 | 0.69 | 0.71 | 0.76 | 0.74 | 0.76 | 0.80 | 0.86 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,881,000K ÷ $8,251,000K
= 0.71
Chemours Co's total asset turnover ratio has fluctuated over the past few years, ranging between 0.67 to 0.89. Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. A higher ratio indicates better efficiency in utilizing assets to generate sales.
From the given data, we can observe that the total asset turnover ratio has generally been on a declining trend from the end of 2019 to the end of 2023. The ratio decreased from 0.76 in March 2020 to 0.71 in December 2023. This decline may suggest either an increase in total assets without a proportional increase in sales or a decrease in sales relative to total assets.
It is important for Chemours Co to analyze the factors contributing to this decreasing trend in total asset turnover to identify areas for improvement. Management may need to focus on optimizing asset efficiency, reducing excess assets, or increasing sales to improve the company's overall financial performance.
Peer comparison
Dec 31, 2023