Ingredion Incorporated (INGR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,160,000 | 7,946,000 | 6,894,000 | 5,966,000 | 6,200,000 |
| Total assets | US$ in thousands | 7,642,000 | 7,561,000 | 6,999,000 | 6,858,000 | 6,040,000 |
| Total asset turnover | 1.07 | 1.05 | 0.98 | 0.87 | 1.03 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,160,000K ÷ $7,642,000K
= 1.07
The total asset turnover ratio for Ingredion Inc has shown an increasing trend over the past five years, with values of 1.07 in 2023, 1.05 in 2022, 0.98 in 2021, 0.87 in 2020, and 1.03 in 2019. This indicates that the company has been generating more revenue relative to its total assets in recent years, suggesting improved efficiency in asset utilization. The higher the total asset turnover ratio, the more effective the company is at generating sales from its assets. Overall, the increasing trend in total asset turnover reflects positively on Ingredion Inc's ability to efficiently utilize its assets to generate revenue.
Peer comparison
Dec 31, 2023