Eastman Chemical Company (EMN)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 9,210,000 | 9,376,000 | 9,818,000 | 10,278,000 | 10,580,000 | 10,901,000 | 10,912,000 | 10,781,000 | 10,476,000 | 9,968,000 | 9,370,000 | 8,641,000 | 8,473,000 | 8,492,000 | 8,695,000 | 9,134,000 | 9,273,000 | 9,444,000 | 9,666,000 | 9,924,000 |
| Total assets | US$ in thousands | 14,633,000 | 14,594,000 | 14,771,000 | 14,983,000 | 14,667,000 | 14,985,000 | 14,875,000 | 15,806,000 | 15,519,000 | 16,259,000 | 16,098,000 | 16,195,000 | 16,083,000 | 16,009,000 | 15,973,000 | 16,465,000 | 16,008,000 | 16,137,000 | 16,256,000 | 16,361,000 |
| Total asset turnover | 0.63 | 0.64 | 0.66 | 0.69 | 0.72 | 0.73 | 0.73 | 0.68 | 0.68 | 0.61 | 0.58 | 0.53 | 0.53 | 0.53 | 0.54 | 0.55 | 0.58 | 0.59 | 0.59 | 0.61 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,210,000K ÷ $14,633,000K
= 0.63
Total asset turnover measures how efficiently a company generates revenue from its assets. A higher ratio indicates better asset utilization. Eastman Chemical Co's total asset turnover has been progressively decreasing from Q1 2022 to Q4 2023, indicating a declining efficiency in generating revenue from its assets over the period. The ratio ranged from 0.63 to 0.72, with the lowest turnover in Q4 2023. This trend may suggest less effective asset management or lower sales relative to the value of assets. Further analysis would be necessary to determine the factors contributing to this decline in asset turnover.
Peer comparison
Dec 31, 2023