Knowles Cor (KN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 707,600 | 764,700 | 868,100 | 764,300 | 854,800 |
| Total assets | US$ in thousands | 1,462,800 | 1,183,900 | 1,731,600 | 1,654,900 | 1,654,600 |
| Total asset turnover | 0.48 | 0.65 | 0.50 | 0.46 | 0.52 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $707,600K ÷ $1,462,800K
= 0.48
Knowles Corp's total asset turnover has fluctuated over the past five years. The company's total asset turnover ratio decreased from 0.52 in 2019 to 0.46 in 2020, indicating that the company generated less revenue per dollar of assets during that period. However, this trend reversed in 2021 when the total asset turnover ratio increased to 0.50, showing improved efficiency in asset utilization. In 2022, the ratio further improved to 0.65, indicating that the company was generating more revenue per dollar of assets invested in the business.
However, in 2023, the total asset turnover ratio decreased to 0.48, suggesting a slight decline in efficiency in generating sales from its assets compared to the previous year. Overall, the trend in total asset turnover indicates some variability in the company's ability to efficiently utilize its assets to generate sales revenue over the five-year period.
Peer comparison
Dec 31, 2023