ITT Inc (ITT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,283,000 | 2,987,700 | 2,765,000 | 2,477,800 | 2,846,400 |
| Total assets | US$ in thousands | 3,932,600 | 3,780,300 | 3,565,400 | 4,277,600 | 4,107,700 |
| Total asset turnover | 0.83 | 0.79 | 0.78 | 0.58 | 0.69 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,283,000K ÷ $3,932,600K
= 0.83
ITT Inc's total asset turnover has shown a fluctuating trend over the past five years. The ratio increased from 0.58 in 2020 to 0.83 in 2023, indicating that the company generated $0.83 in revenue for every dollar of assets held during the most recent year. This improvement suggests that ITT has become more efficient in utilizing its assets to generate sales. However, it is important to note that the ratio experienced some dips in 2022 and 2021, possibly indicating periods of underperformance or changes in the company's asset management strategies. Overall, the increasing trend in total asset turnover is a positive sign of improved asset utilization efficiency for ITT Inc.
Peer comparison
Dec 31, 2023