Landstar System Inc (LSTR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,303,320 | 7,436,560 | 6,537,570 | 4,132,980 | 4,084,580 |
| Total assets | US$ in thousands | 1,801,850 | 1,931,880 | 2,045,460 | 1,653,800 | 1,427,710 |
| Total asset turnover | 2.94 | 3.85 | 3.20 | 2.50 | 2.86 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,303,320K ÷ $1,801,850K
= 2.94
The total asset turnover ratio for Landstar System Inc has experienced fluctuations over the past five years. The ratio decreased from 2.86 in 2019 to 2.50 in 2020, indicating a decrease in the company's efficiency in generating sales from its total assets. However, the ratio significantly improved in 2021 to 3.20, further increasing to 3.85 in 2022, demonstrating a strong ability to utilize its assets to generate revenue efficiently.
In 2023, the total asset turnover ratio slightly declined to 2.94, indicating a decrease in the company's efficiency in utilizing its assets to generate sales compared to the previous year. It is worth noting that although the ratio fluctuated, it remained above the 2.0 threshold across all years, suggesting that Landstar System Inc has been effectively utilizing its assets to generate revenue, with a particularly notable improvement in 2022.
Overall, the trend in Landstar System Inc's total asset turnover ratio reflects varying levels of efficiency in generating sales from its total assets over the five-year period, with a notable improvement in 2021 and 2022.
Peer comparison
Dec 31, 2023