Enovis Corp (ENOV)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,699,490 | 1,524,550 | 3,751,870 | 2,959,420 | 3,222,130 |
| Total assets | US$ in thousands | 4,509,330 | 4,273,250 | 8,515,910 | 7,351,550 | 7,386,830 |
| Total asset turnover | 0.38 | 0.36 | 0.44 | 0.40 | 0.44 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,699,490K ÷ $4,509,330K
= 0.38
The total asset turnover of Enovis Corp has been relatively stable over the past five years, ranging from 0.37 to 0.45. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A total asset turnover of 0.38 in 2023 suggests that for every dollar of total assets, Enovis generated $0.38 in revenue.
Although the ratio increased from 2022 to 2023, it is still on the lower end compared to the previous years. This may indicate a decline in the company's efficiency in generating revenue from its assets. Further analysis is needed to understand the reasons behind this trend and to identify potential areas for improvement in asset utilization.
Peer comparison
Dec 31, 2023