Crown Holdings Inc (CCK)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,532,000 | 12,632,000 | 11,118,000 | 11,274,000 | 11,665,000 |
| Total assets | US$ in thousands | 15,034,000 | 14,301,000 | 13,858,000 | 16,691,000 | 12,718,000 |
| Total asset turnover | 0.77 | 0.88 | 0.80 | 0.68 | 0.92 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $11,532,000K ÷ $15,034,000K
= 0.77
Crown Holdings, Inc. total asset turnover has exhibited fluctuations over the past five years, ranging from 0.69 in 2020 to 0.91 in 2022. In 2023, the total asset turnover ratio decreased to 0.80. This indicates that the company generated $0.80 in revenue for every dollar of assets it had in 2023. The decreasing trend from 2022 to 2023 suggests that the company may have experienced challenges in efficiently utilizing its assets to generate sales or may have faced decreasing sales relative to its asset base. It is essential for Crown Holdings to assess and improve its asset management strategies to enhance efficiency and profitability.
Peer comparison
Dec 31, 2023