Goodyear Tire & Rubber Co (GT)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 18,878,000 | 20,066,000 | 20,805,000 | 17,478,000 | 12,321,000 |
| Total assets | US$ in thousands | 20,964,000 | 21,582,000 | 22,431,000 | 21,402,000 | 16,506,000 |
| Total asset turnover | 0.90 | 0.93 | 0.93 | 0.82 | 0.75 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $18,878,000K ÷ $20,964,000K
= 0.90
Goodyear Tire & Rubber Co's total asset turnover has shown a steady increase from 0.75 in 2020 to 0.90 in 2024. This indicates that the company is generating more revenue relative to its total assets over the years analyzed. The improvement in total asset turnover suggests that Goodyear Tire & Rubber Co is becoming more efficient in utilizing its assets to generate sales. The company's management may have made operational improvements or strategic decisions that have positively impacted its asset utilization efficiency. Overall, the increasing trend in total asset turnover reflects positively on Goodyear Tire & Rubber Co's operational performance and indicates effective asset management.