CNH Industrial N.V. (CNH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 24,687,000 | 23,551,000 | 33,428,000 | 14,779,000 | 28,079,000 |
| Total assets | US$ in thousands | 46,267,000 | 39,381,000 | 6,789,000 | 48,719,000 | 47,352,000 |
| Total asset turnover | 0.53 | 0.60 | 4.92 | 0.30 | 0.59 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $24,687,000K ÷ $46,267,000K
= 0.53
Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales.
In the case of CNH Industrial N.V., the total asset turnover has fluctuated over the past five years, ranging from 0.30 to 4.92.
In 2023, the total asset turnover decreased to 0.53 from 0.60 in 2022. This decline may indicate that CNH Industrial N.V. was less efficient in generating sales from its total assets in 2023 compared to the previous year.
The sharp increase to 4.92 in 2021 suggests a significant improvement in asset utilization, indicating that CNH Industrial N.V. was able to generate a high level of sales relative to its total assets in that year.
Overall, CNH Industrial N.V.'s total asset turnover has shown variability, and further analysis of the company's operations and financial performance is needed to fully understand the factors influencing these fluctuations.
Peer comparison
Dec 31, 2023