Fluor Corporation (FLR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 15,474,000 | 13,744,000 | 14,156,000 | 15,788,000 | 15,454,000 |
| Total assets | US$ in thousands | 6,973,000 | 6,827,000 | 7,089,000 | 7,309,810 | 7,966,660 |
| Total asset turnover | 2.22 | 2.01 | 2.00 | 2.16 | 1.94 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $15,474,000K ÷ $6,973,000K
= 2.22
Fluor Corporation's total asset turnover has shown a mixed trend over the past five years. The total asset turnover ratio measures the efficiency of the company in generating revenue from its assets. A higher ratio indicates that the company is effectively utilizing its assets to generate sales.
In 2023, the total asset turnover ratio increased to 2.22 from 2.01 in 2022, demonstrating an improvement in the company's ability to generate revenue from its assets. This increase suggests that the company is becoming more efficient in utilizing its assets to generate sales compared to the previous year.
In 2021, the total asset turnover ratio was 1.71, showing a decrease from the previous year. This might indicate a temporary decrease in efficiency in utilizing assets to generate revenue.
In 2020, the total asset turnover ratio improved to 2.14, which was higher than in 2019. This increase suggests that the company was able to generate more revenue from its assets in the given year.
Overall, the fluctuation in Fluor Corporation's total asset turnover ratio over the past five years reflects variations in the company's efficiency in generating sales from its assets. Further analysis and comparison with industry benchmarks could provide additional insights into the company's operational performance and asset utilization efficiency.
Peer comparison
Dec 31, 2023