Crane NXT Co (CXT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,391,300 | 3,374,900 | 3,408,000 | 2,936,900 | 3,074,500 |
| Total assets | US$ in thousands | 2,129,400 | 2,129,400 | 4,486,600 | 4,615,000 | 4,423,700 |
| Total asset turnover | 0.65 | 1.58 | 0.76 | 0.64 | 0.70 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,391,300K ÷ $2,129,400K
= 0.65
The total asset turnover ratio for Crane NXT Co has fluctuated over the past five years, indicating varying levels of efficiency in managing its assets to generate revenue.
In 2023, the total asset turnover ratio decreased to 0.65 from 1.58 in 2022, reflecting a significant decline in the company's ability to generate revenue from its assets. This may suggest inefficiencies in asset utilization or a decrease in sales relative to its asset base.
The ratio of 0.76 in 2021 showed some improvement from the preceding year, indicating a better utilization of assets to generate revenue. However, it still remained below the levels seen in 2022.
The total asset turnover ratio was at its lowest in 2020 at 0.64, indicating that the company was less efficient in generating revenue from its assets during that year.
The ratio of 0.70 in 2019 showed a slight improvement from 2020 but remained relatively low compared to the levels seen in 2022 and 2021.
Overall, the trend in the total asset turnover ratio suggests that Crane NXT Co has experienced fluctuations in its efficiency in utilizing its assets to generate revenue over the past five years. The company may need to assess its asset management strategies to improve its overall operational efficiency and profitability.
Peer comparison
Dec 31, 2023