IDEX Corporation (IEX)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,268,800 | 3,273,900 | 3,181,900 | 2,764,800 | 2,351,650 |
| Total assets | US$ in thousands | 6,745,300 | 5,865,200 | 5,511,900 | 4,917,200 | 4,414,400 |
| Total asset turnover | 0.48 | 0.56 | 0.58 | 0.56 | 0.53 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,268,800K ÷ $6,745,300K
= 0.48
The total asset turnover ratio for IDEX Corporation has shown a gradual improvement over the last five years, increasing from 0.53 in December 2020 to 0.56 in December 2021 and further to 0.58 by December 2022. This indicates that the company is generating more revenue for each dollar of assets it holds, reflecting efficient asset utilization.
However, there was a slight dip in the total asset turnover ratio to 0.56 by December 2023, which could suggest a temporary slowdown in revenue generation relative to its asset base. The ratio then decreased notably to 0.48 by December 2024, signaling a potential decrease in revenue generated per dollar of assets compared to the previous year.
Overall, while the increase in total asset turnover until 2022 was positive, the subsequent decline in 2023 and 2024 suggests a need for the company to focus on optimizing its asset utilization and enhancing revenue generation efficiency to sustain or improve its performance in the future.
Peer comparison
Dec 31, 2024