Honeywell International Inc (HON)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 36,634,000 | 35,397,000 | 34,343,000 | 32,678,000 | 36,905,000 |
| Total assets | US$ in thousands | 61,525,000 | 62,275,000 | 64,470,000 | 64,586,000 | 58,679,000 |
| Total asset turnover | 0.60 | 0.57 | 0.53 | 0.51 | 0.63 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $36,634,000K ÷ $61,525,000K
= 0.60
The total asset turnover of Honeywell International Inc has shown a fluctuating trend over the past five years. The ratio measures the efficiency with which the company generates revenue from its total assets. In 2023, the total asset turnover stood at 0.60, reflecting an improvement compared to the previous year's ratio of 0.57. This indicates that the company generated $0.60 in revenue for every dollar of total assets in 2023.
The upward trend in total asset turnover from 2020 to 2023 suggests that Honeywell International Inc has been more efficient in utilizing its assets to generate sales revenue. However, the ratio is still below the 2019 level of 0.63, indicating that there is room for further improvement in asset efficiency.
Overall, the increasing trend in total asset turnover is a positive sign for the company, as it shows an improvement in asset utilization and revenue generation. It indicates that Honeywell International Inc has been effectively managing its assets to drive sales growth and operational performance.
Peer comparison
Dec 31, 2023