CSX Corporation (CSX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 13,882,000 | 14,396,000 | 12,254,000 | 9,881,000 | 11,304,000 |
| Total assets | US$ in thousands | 42,408,000 | 41,912,000 | 40,531,000 | 39,793,000 | 38,257,000 |
| Total asset turnover | 0.33 | 0.34 | 0.30 | 0.25 | 0.30 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $13,882,000K ÷ $42,408,000K
= 0.33
The total asset turnover ratio of CSX Corp. has shown a fluctuating trend over the past five years. In 2023 and 2022, the total asset turnover ratio remained stable at 0.35, indicating that the company generated $0.35 in revenue for every dollar of assets on its balance sheet. This suggests that CSX efficiently utilizes its assets to generate revenue.
Comparing to the previous years, there was a slight increase in the total asset turnover ratio from 2021 to 2022, implying improved efficiency in asset utilization. However, in 2020, the ratio was lower at 0.27, indicating a temporary decline in asset efficiency.
Overall, despite some fluctuations, CSX Corp. has generally maintained a consistent level of asset turnover, showcasing its ability to effectively generate revenue relative to its asset base over the last five years. However, management should continue to monitor and potentially work on improving asset turnover to enhance operational efficiency and profitability in the future.
Peer comparison
Dec 31, 2023