The Coca-Cola Company (KO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 45,754,000 | 43,004,000 | 38,655,000 | 33,014,000 | 37,266,000 |
| Total assets | US$ in thousands | 97,703,000 | 92,763,000 | 94,354,000 | 87,296,000 | 86,381,000 |
| Total asset turnover | 0.47 | 0.46 | 0.41 | 0.38 | 0.43 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $45,754,000K ÷ $97,703,000K
= 0.47
Coca-Cola Co's total asset turnover has been showing a positive trend over the past five years, increasing from 0.43 in 2019 to 0.47 in 2023. This suggests that the company is becoming more efficient in generating revenue relative to its total assets. A higher total asset turnover ratio indicates that the company is able to generate more sales with a lower level of investment in assets.
The improvement in total asset turnover can be attributed to factors such as better asset management, operational efficiency, and effective utilization of resources. It indicates that Coca-Cola Co is effectively using its assets to drive revenue growth and enhance profitability. Overall, the increasing trend in total asset turnover reflects positively on the company's operational performance and financial health.
Peer comparison
Dec 31, 2023