Kontoor Brands Inc (KTB)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,579,340	2,604,520	2,434,200	2,097,840	2,548,840
Total assets	US$ in thousands	1,645,440	1,582,260	1,533,020	1,545,820	1,517,160
Total asset turnover		1.57	1.65	1.59	1.36	1.68

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,579,340K ÷ $1,645,440K
= 1.57

Kontoor Brands Inc's total asset turnover has fluctuated over the past five years. The ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is effectively utilizing its assets to generate revenue.

In 2023, the total asset turnover ratio decreased to 1.57 from 1.65 in 2022, suggesting a slight decrease in efficiency in generating sales from assets. Despite this slight decline, the company still appears to be efficient in utilizing its assets to generate revenue.

Comparing the latest figure to the previous years, Kontoor Brands Inc's total asset turnover in 2023 is roughly in line with the ratio of 1.59 in 2021 and 1.68 in 2019, indicating a relatively stable performance in asset utilization over these years.

However, in 2020, the total asset turnover ratio was lower at 1.36, indicating that the company was less efficient in generating sales from its assets that year.

Overall, the trend in total asset turnover for Kontoor Brands Inc suggests reasonable efficiency in generating sales from its assets, with some fluctuations in recent years. The company may need to monitor this ratio closely to ensure optimal asset utilization for revenue generation.