Corteva Inc (CTVA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,226,000 | 17,455,000 | 15,655,000 | 14,217,000 | 13,846,000 |
| Total assets | US$ in thousands | 42,996,000 | 42,618,000 | 42,344,000 | 42,649,000 | 42,397,000 |
| Total asset turnover | 0.40 | 0.41 | 0.37 | 0.33 | 0.33 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $17,226,000K ÷ $42,996,000K
= 0.40
Corteva Inc's total asset turnover has shown variability over the past five years. The ratio measures how efficiently the company is using its assets to generate revenue. A total asset turnover of 0.40 in 2023 indicates that for every dollar of total assets, Corteva generated $0.40 in revenue. The slight decrease from the previous year may suggest a potential challenge in optimizing asset utilization. However, when comparing to 2021 and prior years, the current ratio still reflects an improvement in asset efficiency. It is essential for Corteva to continuously monitor and improve its asset turnover to ensure sustainable growth and profitability.
Peer comparison
Dec 31, 2023