Celanese Corporation (CE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 10,746,000 | 9,349,000 | 8,518,000 | 5,580,000 | 6,284,000 |
| Total assets | US$ in thousands | 26,597,000 | 26,272,000 | 11,975,000 | 10,909,000 | 9,476,000 |
| Total asset turnover | 0.40 | 0.36 | 0.71 | 0.51 | 0.66 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $10,746,000K ÷ $26,597,000K
= 0.40
Total asset turnover measures how efficiently a company utilizes its total assets to generate revenue. It indicates the amount of sales generated for each dollar of assets held by the company.
The total asset turnover for Celanese Corp has varied over the past five years. In 2023, the total asset turnover ratio was 0.41, indicating that for every dollar of total assets, the company generated $0.41 in sales revenue. This represents a decrease from the previous year's ratio of 0.37.
Looking back further, in 2021, Celanese Corp had a relatively high total asset turnover ratio of 0.71, suggesting that the company was able to generate a significant amount of revenue for each dollar of assets. However, the ratio declined in 2022 and 2023, indicating a decrease in the efficiency of asset utilization.
In comparison to 2020 and 2019, where the total asset turnover ratios were 0.52 and 0.66 respectively, the current ratio of 0.41 in 2023 is lower, indicating a decline in asset efficiency.
Overall, fluctuations in Celanese Corp's total asset turnover ratios over the years suggest changes in the company's ability to effectively utilize its assets to generate revenue. Further analysis would be needed to determine the reasons behind these fluctuations and to assess the company's operational performance and efficiency in asset management.
Peer comparison
Dec 31, 2023