International Seaways Inc (INSW)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	951,613	1,071,780	864,665	272,546	421,648
Total assets	US$ in thousands	2,636,400	2,521,820	2,615,330	2,346,780	1,586,540
Total asset turnover		0.36	0.43	0.33	0.12	0.27

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $951,613K ÷ $2,636,400K
= 0.36

The total asset turnover ratio of International Seaways Inc has varied over the past five years. In December 2020, the ratio was 0.27, indicating that the company generated $0.27 in sales for every $1 of total assets. However, this ratio decreased to 0.12 by December 2021, suggesting a decline in the company's efficiency in utilizing its assets to generate sales.

Subsequently, the total asset turnover improved in December 2022 to 0.33, reflecting a better utilization of assets to drive sales. This improvement continued in December 2023, with a ratio of 0.43, indicating that the company was more effective in generating sales from its total assets.

However, by December 2024, the total asset turnover ratio dropped slightly to 0.36. Despite the decrease from the previous year, the ratio remained relatively higher compared to the initial years, implying that the company continued to efficiently convert its assets into sales, albeit at a slightly lower rate.

Overall, the trend in International Seaways Inc's total asset turnover shows fluctuations but generally indicates an improved efficiency in utilizing assets to generate sales over the five-year period.