Dana Inc (DAN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 10,387,000 | 10,032,000 | 8,787,000 | 6,968,000 | 8,478,000 |
| Total assets | US$ in thousands | 7,965,000 | 7,449,000 | 7,632,000 | 7,376,000 | 7,220,000 |
| Total asset turnover | 1.30 | 1.35 | 1.15 | 0.94 | 1.17 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $10,387,000K ÷ $7,965,000K
= 1.30
Dana Inc's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover ratio was 1.33, down slightly from 1.36 in 2022. This indicates that the company generated $1.33 in revenue for every dollar of assets it possessed in 2023.
Comparing to previous years, the total asset turnover ratio was higher in 2020 and 2019 (0.96 and 1.19 respectively), indicating that the company was more efficient in generating revenue from its assets during those years.
The improving trend from 2020 to 2022 suggests that Dana Inc may have been optimizing its asset utilization and efficiency during that period. However, the slight decrease in 2023 could be a concern if it continues to decline, as it may indicate potential inefficiencies in asset management. Further analysis of the company's operations and industry benchmarks could provide more insight into the reasons behind these fluctuations and their implications for Dana Inc's financial performance.
Peer comparison
Dec 31, 2023