Linde plc Ordinary Shares (LIN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 32,607,000 | 33,283,000 | 30,594,000 | 26,960,000 | 28,135,000 |
| Total assets | US$ in thousands | 80,811,000 | 79,658,000 | 81,605,000 | 88,229,000 | 86,612,000 |
| Total asset turnover | 0.40 | 0.42 | 0.37 | 0.31 | 0.32 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $32,607,000K ÷ $80,811,000K
= 0.40
Total asset turnover is a key financial ratio used to evaluate a company's efficiency in generating sales revenue in relation to its total assets. In the case of Linde Plc., the trend of total asset turnover over the past five years shows some fluctuation.
In 2023, the total asset turnover ratio decreased slightly to 0.41 compared to the previous year's ratio of 0.42 in 2022. This indicates that for every dollar of assets held by Linde Plc., the company generated $0.41 in sales revenue in 2023.
Looking further back, the total asset turnover ratio was 0.38 in 2021, 0.31 in 2020, and 0.33 in 2019. The decreasing trend from 0.33 in 2019 to 0.31 in 2020, followed by an increase to 0.38 in 2021, suggests some fluctuations in the company's efficiency in utilizing its assets to generate revenue during those years.
Overall, although there have been fluctuations in the total asset turnover ratio of Linde Plc. over the past five years, the company's ability to efficiently generate sales revenue from its total assets remains relatively stable, with a range between 0.31 and 0.42.
Peer comparison
Dec 31, 2023