CVS Health Corp (CVS)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 357,776,000 | 322,467,000 | 292,111,000 | 268,706,000 | 256,776,000 |
| Total assets | US$ in thousands | 249,728,000 | 228,275,000 | 232,999,000 | 230,715,000 | 222,449,000 |
| Total asset turnover | 1.43 | 1.41 | 1.25 | 1.16 | 1.15 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $357,776,000K ÷ $249,728,000K
= 1.43
Analyzing CVS Health Corp's total asset turnover ratio over the past five years reveals a positive trend in efficiency. The ratio has steadily improved from 1.15 in 2019 to 1.43 in 2023. This indicates that CVS Health has been more effective in generating revenue relative to its total assets. The increasing trend suggests improved asset utilization and efficiency in the company's operations over the years. This indicates a positive sign for investors and stakeholders as CVS Health is making better use of its assets to drive revenue growth.
Peer comparison
Dec 31, 2023
Company name
Symbol
Total asset turnover
CVS Health Corp
CVS
1.43
Walgreens Boots Alliance Inc
WBA
1.84