GE Aerospace (GE)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	67,954,000	58,100,000	74,196,000	75,833,000	90,221,000
Total assets	US$ in thousands	163,045,000	188,851,000	198,874,000	256,211,000	265,177,000
Total asset turnover		0.42	0.31	0.37	0.30	0.34

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $67,954,000K ÷ $163,045,000K
= 0.42

General Electric Co.'s total asset turnover has shown a fluctuating trend over the past five years, ranging from 0.31 to 0.42. The total asset turnover ratio indicates the efficiency with which the company generates sales revenue from its total assets. A higher ratio suggests that the company is more efficient in utilizing its assets to generate sales.

In 2023, the total asset turnover ratio improved to 0.42 from 0.41 in 2022, indicating that General Electric Co. generated $0.42 in sales for every $1 of total assets. This increase suggests an improvement in the company's asset utilization efficiency.

Compared to the previous years, the total asset turnover ratio in 2023 was higher than in 2021 and 2020, indicating that General Electric Co. became more efficient in generating sales from its assets. However, the ratio was slightly lower than in 2019 when it reached 0.36.

Overall, the increasing trend in total asset turnover ratio is a positive indicator of General Electric Co.'s ability to effectively utilize its assets to generate sales revenue, potentially leading to enhanced profitability and operational efficiency.