Coca-Cola Consolidated Inc. (COKE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,644,960 | 6,166,200 | 5,518,710 | 4,951,170 | 4,774,060 |
| Total assets | US$ in thousands | 4,288,940 | 3,709,540 | 3,445,570 | 3,222,450 | 3,126,930 |
| Total asset turnover | 1.55 | 1.66 | 1.60 | 1.54 | 1.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,644,960K ÷ $4,288,940K
= 1.55
Coca-Cola Consolidated Inc's total asset turnover ratio has shown some fluctuations over the past five years. The ratio, which measures the company's ability to generate sales from its assets, decreased from 1.67 in 2022 to 1.55 in 2023. Despite the slight decline, the company has generally maintained a relatively stable total asset turnover ratio, ranging between 1.54 and 1.67 during this period.
A total asset turnover ratio of 1.55 in 2023 indicates that Coca-Cola Consolidated Inc generated $1.55 in sales for every dollar of assets it owned. This suggests that the company effectively utilized its assets to generate revenue. However, it is worth noting that a higher total asset turnover ratio would indicate a more efficient use of assets in generating sales.
Overall, while there have been some fluctuations in the total asset turnover ratio, Coca-Cola Consolidated Inc has demonstrated a reasonable ability to generate sales from its assets over the past five years.
Peer comparison
Dec 31, 2023