Cencora Inc. (COR)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 262,173,000 | 238,587,000 | 213,989,000 | 189,894,000 | 179,589,000 |
| Total assets | US$ in thousands | 62,558,700 | 56,560,600 | 57,337,800 | 44,274,800 | 39,172,000 |
| Total asset turnover | 4.19 | 4.22 | 3.73 | 4.29 | 4.58 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $262,173,000K ÷ $62,558,700K
= 4.19
The total asset turnover ratio measures how efficiently a company is using its assets to generate revenue. Cencora Inc.'s total asset turnover has shown a generally increasing trend over the past three years, from 3.73 in September 2021 to 4.19 in September 2023. This indicates that the company has been able to generate more revenue relative to its total assets during this period. The significant improvement in the ratio from 0.28 in December 2020 to 4.22 in September 2022 reflects a substantial increase in asset utilization. A high total asset turnover ratio suggests effective asset management and strong sales performance. However, it is important to consider the industry benchmarks to gain a clearer understanding of Cencora Inc.'s performance in comparison to its peers. Overall, the increasing trend in the total asset turnover ratio indicates that Cencora Inc. has been utilizing its assets more efficiently to generate sales revenue.
Peer comparison
Sep 30, 2023