Corteva Inc (CTVA)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 17,226,000 | 17,344,000 | 17,531,000 | 17,738,000 | 17,455,000 | 17,109,000 | 16,703,000 | 16,078,000 | 15,655,000 | 15,383,000 | 14,875,000 | 14,439,000 | 14,217,000 | 13,993,000 | 14,041,000 | 14,406,000 | 13,846,000 | |||
| Total assets | US$ in thousands | 42,996,000 | 43,110,000 | 44,189,000 | 45,500,000 | 42,618,000 | 40,651,000 | 40,906,000 | 42,633,000 | 42,344,000 | 41,122,000 | 41,496,000 | 42,549,000 | 42,649,000 | 41,690,000 | 42,180,000 | 42,978,000 | 42,397,000 | 43,235,000 | 43,922,000 | 110,102,000 |
| Total asset turnover | 0.40 | 0.40 | 0.40 | 0.39 | 0.41 | 0.42 | 0.41 | 0.38 | 0.37 | 0.37 | 0.36 | 0.34 | 0.33 | 0.34 | 0.33 | 0.34 | 0.33 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $17,226,000K ÷ $42,996,000K
= 0.40
Total asset turnover is a key financial ratio that measures a company's ability to generate revenue relative to its total assets. For Corteva Inc, the total asset turnover has been relatively stable over the past eight quarters, ranging from 0.38 to 0.42. This indicates that the company is generating roughly $0.40 of revenue for every dollar of assets it owns on average.
A consistent total asset turnover suggests that Corteva is effectively utilizing its assets to generate sales. However, it's important to note that a higher total asset turnover ratio is generally preferred, as it indicates greater efficiency in asset utilization. The slight fluctuations in the ratio over the quarters may be influenced by changes in sales volume, asset base, or business operations.
Overall, Corteva Inc's total asset turnover ratio indicates a moderate level of efficiency in generating revenue from its asset base. Monitoring trends in this ratio over time can provide insights into the company's operational efficiency and asset utilization strategies.
Peer comparison
Dec 31, 2023