CTS Corporation (CTS)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	515,771	550,422	586,869	512,925	424,066
Total assets	US$ in thousands	766,112	741,167	748,487	664,462	626,049
Total asset turnover		0.67	0.74	0.78	0.77	0.68

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $515,771K ÷ $766,112K
= 0.67

The total asset turnover ratio of CTS Corporation has shown a fluctuating trend over the past five years. In 2020, the ratio was 0.68, indicating that the company generated $0.68 in sales for every $1 of total assets. There was an improvement in 2021 and 2022, with the ratio increasing to 0.77 and 0.78 respectively. This suggests that the company was able to more efficiently utilize its assets to generate revenue during these years.

However, there was a slight dip in the ratio in 2023 to 0.74, followed by a more significant decrease in 2024 to 0.67. These lower ratios indicate that the company may be experiencing challenges in effectively leveraging its assets to generate sales in these years.

Overall, while there have been fluctuations in CTS Corporation's total asset turnover ratio, it is important for the company to focus on optimizing asset utilization to improve efficiency and profitability in the future.