Hanesbrands Inc (HBI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,628,060 | 6,226,350 | 6,745,200 | 6,115,600 | 6,956,190 |
| Total assets | US$ in thousands | 5,640,310 | 6,503,880 | 7,071,440 | 7,719,870 | 7,353,990 |
| Total asset turnover | 1.00 | 0.96 | 0.95 | 0.79 | 0.95 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,628,060K ÷ $5,640,310K
= 1.00
The total asset turnover of Hanesbrands Inc has gradually improved from 0.95 in 2021 to 1.00 in 2023. This indicates that the company generated $1.00 in revenue for every $1.00 of total assets in 2023. The increasing trend in total asset turnover suggests that the company is utilizing its assets more efficiently to generate sales. This improvement may be attributed to better operational efficiency, effective asset management, or increased sales volume. Overall, a higher total asset turnover ratio is generally viewed positively as it indicates that the company is generating more revenue from its assets.