Danaher Corporation (DHR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 23,693,000 | 31,383,000 | 29,239,000 | 21,983,000 | 17,796,000 |
| Total assets | US$ in thousands | 84,488,000 | 84,350,000 | 83,184,000 | 76,161,000 | 62,082,000 |
| Total asset turnover | 0.28 | 0.37 | 0.35 | 0.29 | 0.29 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $23,693,000K ÷ $84,488,000K
= 0.28
The total asset turnover ratio of Danaher Corp. has exhibited fluctuations over the past five years. In 2023, the total asset turnover ratio decreased to 0.28 from 0.37 in 2022, indicating that the company generated $0.28 in revenue for each dollar of total assets during the year. This decline suggests a potential decrease in the efficiency of asset utilization compared to the previous year.
Comparing with earlier years, the total asset turnover ratio was relatively consistent in 2021 at 0.35, and slightly lower in 2020 and 2019 at 0.29. This suggests that in 2021, the company was more effective at generating revenue relative to its asset base than in 2020 and 2019.
The fluctuation in the total asset turnover ratio over the years may indicate varying levels of operational efficiency and asset utilization within the company. Further analysis and comparison with industry benchmarks could provide additional insights into Danaher Corp.'s overall performance in efficiently utilizing its assets to generate revenue.
Peer comparison
Dec 31, 2023