Dover Corporation (DOV)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,306,830 | 8,391,830 | 7,800,760 | 6,577,040 | 7,136,400 |
| Total assets | US$ in thousands | 11,348,500 | 10,896,500 | 10,403,600 | 9,152,070 | 8,669,480 |
| Total asset turnover | 0.73 | 0.77 | 0.75 | 0.72 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,306,830K ÷ $11,348,500K
= 0.73
Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.
Based on the data provided, Dover Corp.'s total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover is 0.74, showing a decrease from the previous year. This indicates that Dover Corp. generated $0.74 in sales for every $1 of total assets in 2023.
The trend over the past five years reveals some variability in Dover Corp.'s asset utilization efficiency. In 2020 and 2019, the company had a lower total asset turnover of 0.73 and 0.82, respectively. This suggests that Dover Corp. was less efficient in generating sales from its total assets during those years compared to the other years.
Overall, Dover Corp.'s total asset turnover has been somewhat inconsistent, with fluctuations from year to year. Further analysis and comparison with industry peers are recommended to understand the underlying reasons for these fluctuations and to assess Dover Corp.'s asset utilization efficiency in a broader context.
Peer comparison
Dec 31, 2023