Cummins Inc (CMI)
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 | 34,065,000 | 33,292,000 | 32,194,000 | 30,142,000 | 28,074,000 | 26,154,000 | 24,789,000 | 24,314,000 | 24,021,000 | 24,001,000 | 23,151,000 | 20,892,000 | 19,811,000 | 19,559,000 | 20,209,000 | 22,578,000 | 23,571,000 | 24,119,000 | 24,294,000 | 24,205,000 |
| Total assets | US$ in thousands | 32,005,000 | 32,097,000 | 31,735,000 | 31,433,000 | 30,299,000 | 29,769,000 | 24,477,000 | 24,122,000 | 23,710,000 | 23,063,000 | 22,608,000 | 22,962,000 | 22,624,000 | 21,568,000 | 20,314,000 | 20,076,000 | 19,737,000 | 20,346,000 | 20,254,000 | 19,846,000 |
| Total asset turnover | 1.06 | 1.04 | 1.01 | 0.96 | 0.93 | 0.88 | 1.01 | 1.01 | 1.01 | 1.04 | 1.02 | 0.91 | 0.88 | 0.91 | 0.99 | 1.12 | 1.19 | 1.19 | 1.20 | 1.22 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $34,065,000K ÷ $32,005,000K
= 1.06
Cummins Inc.'s total asset turnover ratio has been gradually improving over the past several quarters, indicating that the company is generating more revenue relative to its total assets. In Q4 2023, the total asset turnover ratio reached 1.06, its highest level in the past eight quarters. This suggests that Cummins is becoming more efficient in utilizing its assets to generate sales. The trend of increasing total asset turnover is generally positive and reflects effective asset management and operational efficiency within the company.
Peer comparison
Dec 31, 2023
Company name
Symbol
Total asset turnover
Cummins Inc
CMI
1.06
Brunswick Corporation
BC
1.03
BWX Technologies Inc
BWXT
0.90