John Bean Technologies Corporation (JBT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,704,500 | 2,166,000 | 1,868,300 | 1,727,800 | 1,945,700 |
| Total assets | US$ in thousands | 2,710,400 | 2,641,000 | 2,141,400 | 1,805,900 | 1,914,900 |
| Total asset turnover | 0.63 | 0.82 | 0.87 | 0.96 | 1.02 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,704,500K ÷ $2,710,400K
= 0.63
The total asset turnover of John Bean Technologies Corp has been decreasing over the past five years, indicating a decreasing efficiency in generating revenue from its assets. The ratio declined from 1.02 in 2019 to 0.61 in 2023. This means that in 2023, the company generated $0.61 in revenue for every $1 of assets it held. A declining total asset turnover may suggest that the company is not effectively utilizing its assets to generate sales or that its sales are decreasing relative to its asset base. Further investigation into the company's operations and asset management strategies may be warranted to address this decline in efficiency.
Peer comparison
Dec 31, 2023