Fortive Corp (FTV)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,923,600 | 5,709,200 | 5,059,600 | 4,504,200 | 7,208,600 |
| Total assets | US$ in thousands | 16,911,800 | 15,890,600 | 16,465,500 | 16,051,500 | 17,439,000 |
| Total asset turnover | 0.35 | 0.36 | 0.31 | 0.28 | 0.41 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,923,600K ÷ $16,911,800K
= 0.35
The total asset turnover ratio for Fortive Corp has fluctuated over the past five years. It decreased from 0.42 in 2019 to 0.29 in 2020, indicating a decline in the efficiency of generating sales from its total assets. However, there was an improvement in 2021 as the ratio increased to 0.32, although it was still below the 2019 level. In 2022 and 2023, the ratio stabilized around 0.37 and 0.36, respectively.
Overall, the trend suggests that Fortive Corp has been moderately successful in utilizing its total assets to generate revenue during the period under review, with some fluctuations noted in recent years. The company may need to further evaluate and improve its asset utilization strategies to enhance its operational efficiency and financial performance.
Peer comparison
Dec 31, 2023