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.