Kaiser Aluminum Corporation (KALU)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,053,900 | 3,385,100 | 2,537,100 | 1,133,600 | 1,473,600 |
| Total assets | US$ in thousands | 2,267,400 | 2,288,800 | 2,422,400 | 1,864,700 | 1,526,200 |
| Total asset turnover | 1.35 | 1.48 | 1.05 | 0.61 | 0.97 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,053,900K ÷ $2,267,400K
= 1.35
The total asset turnover ratio for Kaiser Aluminum Corp has fluctuated over the past five years. In 2023, the ratio decreased to 1.36 from 1.50 in 2022. This implies that the company generated $1.36 in revenue for every dollar of assets it had in 2023. The decrease may suggest that the company's efficiency in generating sales from its assets slightly weakened compared to the previous year.
Looking further back, in 2021, Kaiser Aluminum Corp experienced a significant increase in total asset turnover to 1.08 from 0.63 in 2020. This substantial improvement indicates that the company was able to generate more revenue per dollar of assets in 2021, reflecting potential operational efficiencies or sales growth.
Comparing the most recent ratio to 2019, where the total asset turnover was 0.99, Kaiser Aluminum Corp's performance in 2023 appears more efficient in terms of asset utilization. It is worth noting that while the ratio fluctuated over the years, maintaining a ratio above 1 indicates that the company is effectively utilizing its assets to generate revenue, with 2022 being the most efficient year during the period analyzed.
Peer comparison
Dec 31, 2023