Chart Industries Inc (GTLS)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,031,500 | 1,594,000 | 1,300,300 | 1,389,800 | 1,274,000 |
| Total assets | US$ in thousands | 9,102,400 | 5,901,900 | 3,043,800 | 2,570,500 | 2,481,400 |
| Total asset turnover | 0.33 | 0.27 | 0.43 | 0.54 | 0.51 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,031,500K ÷ $9,102,400K
= 0.33
The total asset turnover ratio for Chart Industries Inc has exhibited fluctuations over the past five years. The ratio indicates how efficiently the company is generating revenue from its total assets. A higher ratio is generally preferable as it implies that the company is generating more revenue per dollar of assets.
In 2023, the total asset turnover ratio was 0.37, representing an increase from the previous year. This improvement suggests that the company was able to generate more revenue from its total assets in 2023 compared to 2022.
However, in 2022, the ratio was at a relatively lower level of 0.27, indicating a decline in the efficiency of asset utilization compared to the prior year.
In 2021, the ratio improved to 0.43, signaling better efficiency in revenue generation from assets compared to 2020 when the ratio was 0.46.
The total asset turnover ratio was at its highest in 2019 at 0.52, indicating that the company was most efficient in utilizing its assets to generate revenue in that year.
Overall, fluctuations in the total asset turnover ratio reflect varying levels of efficiency in revenue generation from total assets over the years, with the company experiencing both improvements and declines in asset utilization efficiency.