Celanese Corporation (CE)
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 | 10,254,000 | 10,108,000 | 9,713,000 | 9,534,000 | 9,350,000 | 9,417,000 | 9,523,000 | 9,245,000 | 8,517,000 | 7,793,000 | 6,925,000 | 5,920,000 | 5,580,000 | 5,485,000 | 5,659,000 | 6,054,000 | 6,284,000 | 6,548,000 | 6,732,000 | 6,984,000 |
| Total assets | US$ in thousands | 26,597,000 | 25,538,000 | 25,649,000 | 26,090,000 | 26,272,000 | 21,337,000 | 12,713,000 | 12,426,000 | 11,975,000 | 11,583,000 | 11,220,000 | 10,756,000 | 10,909,000 | 9,769,000 | 9,506,000 | 9,545,000 | 9,476,000 | 9,414,000 | 9,506,000 | 9,574,000 |
| Total asset turnover | 0.39 | 0.40 | 0.38 | 0.37 | 0.36 | 0.44 | 0.75 | 0.74 | 0.71 | 0.67 | 0.62 | 0.55 | 0.51 | 0.56 | 0.60 | 0.63 | 0.66 | 0.70 | 0.71 | 0.73 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $10,254,000K ÷ $26,597,000K
= 0.39
Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. It is calculated by dividing net sales by average total assets. In the case of Celanese Corp, the total asset turnover has fluctuated over the past eight quarters, ranging from 0.37 to 0.75.
In the most recent quarter, Q4 2023, Celanese Corp's total asset turnover was 0.41, indicating that the company generated $0.41 in revenue for every dollar of assets it owns. This ratio has decreased from the previous quarter's 0.42, suggesting a slight decrease in asset efficiency.
Looking at the trend over the past year, we observe that there was a significant drop in total asset turnover from 0.75 in Q2 and Q1 of 2022 to below 0.5 in subsequent quarters. This could indicate potential issues with asset management or a slowdown in revenue generation relative to the assets owned by the company.
Overall, the fluctuating trend in Celanese Corp's total asset turnover warrants further investigation to understand the underlying reasons for these changes and to assess the effectiveness of the company's asset utilization strategy.
Peer comparison
Dec 31, 2023