Crane Company (CR)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,063,700 | |||
| Total assets | US$ in thousands | 2,333,600 | 2,191,900 | 2,179,100 | 2,231,700 |
| Total asset turnover | 0.88 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,063,700K ÷ $2,333,600K
= 0.88
Based on the data provided, Crane Company's total asset turnover ratio as of December 31, 2023, is 0.88. This indicates that for every dollar of total assets, the company generated $0.88 in sales revenue.
A total asset turnover ratio of less than 1 suggests that the company is not efficiently utilizing its assets to generate sales. In this case, the lower ratio may indicate that Crane Company is not effectively managing its assets to maximize revenue.
It is essential for Crane Company to improve its total asset turnover ratio to enhance its operational efficiency and optimize its use of assets to drive sales and profitability in the future.
Peer comparison
Dec 31, 2023