Gates Industrial Corporation plc (GTES)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,570,200 | 3,554,200 | 3,474,400 | 2,793,000 | 3,087,100 |
| Total assets | US$ in thousands | 7,254,500 | 7,191,600 | 7,533,000 | 7,426,300 | 7,411,300 |
| Total asset turnover | 0.49 | 0.49 | 0.46 | 0.38 | 0.42 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,570,200K ÷ $7,254,500K
= 0.49
Gates Industrial Corporation plc's total asset turnover has exhibited stability over the past five years, with values ranging between 0.38 and 0.49. This ratio measures the efficiency of the company in generating sales revenue relative to its total assets. The consistency in the total asset turnover suggests that Gates Industrial Corporation plc has been effectively utilizing its assets to drive revenue generation. It indicates that for every dollar of assets the company holds, it is generating between 0.38 to 0.49 dollars in sales. This implies a moderate efficiency in asset utilization, which is important for financial performance and overall profitability. While there has been no significant upward or downward trend in total asset turnover, it is essential for the company to maintain this efficiency to sustain its operational effectiveness and competitiveness in the industry.
Peer comparison
Dec 31, 2023