Gates Industrial Corporation plc (GTES)
Total asset turnover
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,484,300 | 3,535,100 | 3,570,200 | 3,600,200 | 3,588,000 | 3,558,500 | 3,554,200 | 3,476,500 | 3,478,200 | 3,486,500 | 3,474,400 | 3,453,000 | 3,302,800 | 2,964,200 | 2,793,000 | 2,724,500 | 2,758,900 | 2,992,300 | 3,087,100 | 3,153,500 |
| Total assets | US$ in thousands | 7,034,800 | 7,045,900 | 7,254,500 | 7,109,300 | 7,276,900 | 7,282,400 | 7,191,600 | 7,038,700 | 7,198,000 | 7,399,100 | 7,533,000 | 7,506,000 | 7,498,900 | 7,376,400 | 7,426,300 | 7,335,700 | 7,176,300 | 7,184,800 | 7,411,300 | 7,285,900 |
| Total asset turnover | 0.50 | 0.50 | 0.49 | 0.51 | 0.49 | 0.49 | 0.49 | 0.49 | 0.48 | 0.47 | 0.46 | 0.46 | 0.44 | 0.40 | 0.38 | 0.37 | 0.38 | 0.42 | 0.42 | 0.43 |
June 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,484,300K ÷ $7,034,800K
= 0.50
The total asset turnover ratio of Gates Industrial Corporation plc has shown a relatively stable trend over the past two years, ranging between 0.46 and 0.50. This indicates that the company is generating revenue efficiently in relation to its total assets during this period.
The ratio hovered around 0.49 in the most recent quarters, suggesting that the company was able to generate $0.49 of revenue for every $1 of total assets. This stability in total asset turnover is generally considered positive, as it indicates consistent asset utilization efficiency.
While the total asset turnover ratio decreased slightly in earlier quarters, dropping to 0.38 in the third quarter of 2020, it has since improved and remained above 0.40, reflecting better utilization of assets to generate revenue.
Overall, the total asset turnover ratio of Gates Industrial Corporation plc demonstrates a consistent performance in efficiently using its assets to generate revenue, which can be a positive sign of effective management and operations.
Peer comparison
Jun 30, 2024