FMC Corporation (FMC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,174,400 | 5,573,700 | 5,034,800 | 4,636,800 | 4,609,800 |
| Total assets | US$ in thousands | 11,926,200 | 11,171,300 | 10,673,100 | 10,186,400 | 9,872,700 |
| Total asset turnover | 0.35 | 0.50 | 0.47 | 0.46 | 0.47 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,174,400K ÷ $11,926,200K
= 0.35
FMC Corp.'s total asset turnover has fluctuated over the past five years, ranging from 0.38 to 0.52. A declining trend is observed from 2022 to 2020, with the ratio dropping from 0.52 to 0.46, suggesting a decrease in the company's ability to generate sales from its total assets. However, there was a slight improvement in 2021 when the ratio increased to 0.48 before decreasing again in 2023 to 0.38.
The decreasing trend in total asset turnover may indicate inefficiencies in asset utilization or potential issues with sales generation relative to the total assets employed by the company. Further analysis of the company's operational efficiency and asset management practices may be necessary to identify areas for improvement and potential strategies to enhance total asset turnover in the future.
Peer comparison
Dec 31, 2023