Gates Industrial Corporation plc (GTES)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,408,200 | 3,570,200 | 3,554,200 | 3,474,400 | 2,793,000 |
| Total assets | US$ in thousands | 6,786,300 | 7,254,500 | 7,191,600 | 7,533,000 | 7,426,300 |
| Total asset turnover | 0.50 | 0.49 | 0.49 | 0.46 | 0.38 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,408,200K ÷ $6,786,300K
= 0.50
The total asset turnover of Gates Industrial Corporation plc has shown a steady improvement over the years, increasing from 0.38 in December 31, 2020, to 0.50 by December 31, 2024. This indicates that the company is generating more revenue for each dollar of assets employed in its operations. The upward trend suggests that Gates Industrial Corporation plc is becoming more efficient in utilizing its assets to generate sales, which can be a positive sign of operational effectiveness and management efficiency. It is important for the company to maintain this trend to continue maximizing its asset utilization and ultimately drive profitability.
Peer comparison
Dec 31, 2024