CH Robinson Worldwide Inc (CHRW)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	17,596,400	24,696,600	23,102,100	16,207,100	15,309,500
Total assets	US$ in thousands	5,225,280	5,954,560	7,028,110	5,144,260	4,641,060
Total asset turnover		3.37	4.15	3.29	3.15	3.30

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $17,596,400K ÷ $5,225,280K
= 3.37

Total asset turnover measures how efficiently a company generates revenue from its assets. C.H. Robinson Worldwide, Inc. has shown fluctuations in its total asset turnover ratio over the past five years. The ratio decreased from 3.30 in 2019 to 3.15 in 2020 but then increased to 3.29 in 2021 before significantly rising to 4.15 in 2022. However, in 2023, the ratio dropped to 3.37.

The decreasing trend observed in 2020 followed by an increase in 2021 suggests a possible improvement in asset utilization efficiency, which was further enhanced in 2022. However, the decline in 2023 indicates a slight decrease in efficiency in generating sales from assets compared to the previous year. Overall, the company has exhibited variable efficiency in utilizing its assets to generate revenue over the past five years.

Further analysis of the underlying reasons behind these fluctuations, along with industry benchmarks, would provide more insights into C.H. Robinson Worldwide, Inc.'s asset management performance.