Lincoln Electric Holdings Inc (LECO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,174,950 | 3,761,210 | 3,234,180 | 2,655,400 | 3,003,270 |
| Total assets | US$ in thousands | 3,377,300 | 3,180,550 | 2,592,310 | 2,314,450 | 2,371,210 |
| Total asset turnover | 1.24 | 1.18 | 1.25 | 1.15 | 1.27 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,174,950K ÷ $3,377,300K
= 1.24
The total asset turnover for Lincoln Electric Holdings, Inc. has fluctuated over the past five years. In 2023, the total asset turnover ratio improved to 1.24 compared to 1.18 in 2022. This suggests that the company generated $1.24 in revenue for every $1 of total assets in 2023, indicating an efficient use of assets to generate sales.
Looking back over the five-year period, the total asset turnover ratio ranged from a low of 1.15 in 2020 to a high of 1.27 in 2019. These fluctuations may indicate changes in the company's operational efficiency and effectiveness in utilizing its assets to generate revenue.
Overall, the trend in the total asset turnover ratio for Lincoln Electric Holdings, Inc. shows variability, with some years demonstrating higher asset utilization than others. It is important for the company to continue monitoring and managing its asset turnover to ensure optimal efficiency in generating revenue from its total asset base.
Peer comparison
Dec 31, 2023