Kraft Heinz Co (KHC)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	25,669,000	25,743,000	23,232,000	24,638,000	24,040,000
Total assets	US$ in thousands	90,339,000	90,513,000	93,394,000	99,830,000	101,450,000
Total asset turnover		0.28	0.28	0.25	0.25	0.24

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $25,669,000K ÷ $90,339,000K
= 0.28

The total asset turnover of Kraft Heinz Co has been relatively stable over the past five years, with the ratio ranging from 0.24 to 0.28. This indicates that, on average, the company generates approximately $0.25 to $0.28 in revenue for every dollar of total assets it holds. A total asset turnover ratio below 1 suggests that the company is not efficiently utilizing its assets to generate revenue. In this case, Kraft Heinz Co's total asset turnover has remained consistent, indicating a steady level of efficiency in utilizing its assets to generate sales over the years.