CTS Corporation (CTS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	550,422	586,869	512,925	424,066	468,999
Total assets	US$ in thousands	741,167	748,487	664,462	626,049	643,354
Total asset turnover		0.74	0.78	0.77	0.68	0.73

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $550,422K ÷ $741,167K
= 0.74

The total asset turnover ratio for CTS Corp. has shown some fluctuations over the past five years. In 2023, the total asset turnover ratio stood at 0.74, indicating that the company generated $0.74 in revenue for every $1 of total assets it possessed. This was a slight decline compared to the previous year's ratio of 0.78.

The trend from 2020 to 2023 shows some variability in the company's efficiency in generating sales from its total assets. While the ratio was relatively low in 2020 at 0.68, it increased in the following years and peaked at 0.78 in 2022, before decreasing slightly in 2023.

Overall, the total asset turnover ratio suggests that CTS Corp. has been able to utilize its assets to generate revenue, but there may be room for improvement in further optimizing asset efficiency to drive sales growth. It is essential for the company to continue monitoring and managing its asset turnover to ensure sustainable business performance and profitability.