Freeport-McMoran Copper & Gold Inc (FCX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 22,855,000 | 22,780,000 | 22,845,000 | 14,198,000 | 14,402,000 |
| Total assets | US$ in thousands | 52,506,000 | 51,093,000 | 48,022,000 | 42,144,000 | 40,809,000 |
| Total asset turnover | 0.44 | 0.45 | 0.48 | 0.34 | 0.35 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $22,855,000K ÷ $52,506,000K
= 0.44
The total asset turnover for Freeport-McMoRan Inc has shown a fluctuating trend over the past five years. The ratio decreased from 0.35 in 2019 to 0.34 in 2020, indicating a slight decline in the company's efficiency in generating sales relative to its total assets during that period. However, it increased to 0.48 in 2021, signifying an improvement in utilizing its assets to generate revenue.
Despite this improvement, the ratio then declined to 0.45 in 2022 and further dropped to 0.44 in 2023. These decreases may suggest some challenges in optimizing the company's asset utilization for generating sales revenue efficiently in those years. Overall, the company's total asset turnover ratio has been variable, showcasing both improvements and setbacks in effectively translating its total assets into sales across the five-year period.
Peer comparison
Dec 31, 2023