General Motors Company (GM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 171,842,000 | 156,735,000 | 127,004,000 | 122,485,000 | 137,237,000 |
| Total assets | US$ in thousands | 273,064,000 | 264,037,000 | 244,718,000 | 235,194,000 | 228,037,000 |
| Total asset turnover | 0.63 | 0.59 | 0.52 | 0.52 | 0.60 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $171,842,000K ÷ $273,064,000K
= 0.63
General Motors Company's total asset turnover has fluctuated over the past five years. The ratio measures the efficiency at which the company utilizes its assets to generate revenue. In 2023, the total asset turnover ratio was 0.63, showing an improvement from the prior year. This suggests that for every dollar of assets, General Motors generated $0.63 in sales. The increase in the ratio indicates that the company effectively leveraged its assets to drive sales growth. Comparatively, in 2021 and 2020, the total asset turnover ratio was consistent at 0.52, while in 2019, it stood at 0.60. This fluctuation may be indicative of changes in the company's asset management and revenue generation strategies. Overall, the trend in total asset turnover reflects fluctuations in General Motors' ability to efficiently utilize its assets to generate sales.
Peer comparison
Dec 31, 2023