ITT Inc (ITT)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,283,000 | 3,228,500 | 3,160,000 | 3,059,400 | 2,987,700 | 2,898,500 | 2,834,500 | 2,792,800 | 2,765,000 | 2,788,200 | 2,689,800 | 2,512,900 | 2,477,800 | 2,488,300 | 2,609,000 | 2,814,200 | 2,846,400 | 2,805,700 | 2,774,400 | 2,751,300 |
| Total assets | US$ in thousands | 3,932,600 | 3,802,300 | 3,885,400 | 3,767,800 | 3,780,300 | 3,690,200 | 3,699,900 | 3,725,600 | 3,565,400 | 3,454,200 | 3,462,300 | 4,179,700 | 4,277,600 | 4,176,400 | 4,151,300 | 4,276,600 | 4,107,700 | 4,064,200 | 4,041,400 | 3,937,100 |
| Total asset turnover | 0.83 | 0.85 | 0.81 | 0.81 | 0.79 | 0.79 | 0.77 | 0.75 | 0.78 | 0.81 | 0.78 | 0.60 | 0.58 | 0.60 | 0.63 | 0.66 | 0.69 | 0.69 | 0.69 | 0.70 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,283,000K ÷ $3,932,600K
= 0.83
Total asset turnover is a key financial ratio that measures a company's ability to generate revenue in relation to its total assets. For ITT Inc, the total asset turnover ratio has been relatively stable over the past eight quarters, ranging from 0.75 to 0.85.
A total asset turnover ratio of less than 1 indicates that ITT Inc is generating less revenue relative to its total assets. It suggests that the company may be inefficient in utilizing its assets to generate sales. However, the consistency of the ratio over time indicates that IT Inc's operational efficiency in generating revenue has remained relatively steady.
While the total asset turnover ratio alone does not provide a full picture of ITT Inc's financial performance, it could be used in conjunction with other financial ratios and qualitative analysis to assess the overall operational efficiency and performance of the company.
Peer comparison
Dec 31, 2023