Mohawk Industries Inc (MHK)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,044,200 | 11,671,300 | 11,133,200 | 9,486,860 | 9,935,830 |
| Total assets | US$ in thousands | 13,559,900 | 14,120,400 | 14,224,500 | 14,327,800 | 13,386,700 |
| Total asset turnover | 0.81 | 0.83 | 0.78 | 0.66 | 0.74 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $11,044,200K ÷ $13,559,900K
= 0.81
The total asset turnover ratio for Mohawk Industries, Inc. has shown a fluctuating trend over the past five years. In 2023, the total asset turnover ratio was 0.82, slightly lower than the previous year's ratio of 0.83. This indicates that the company generated $0.82 in sales for every dollar of assets during the year.
Comparing to 2021, the total asset turnover improved in 2022 but then declined in 2023. Despite the fluctuations, the company has generally maintained the efficiency of its asset utilization in generating sales. Moreover, the ratios from 2020 and 2019 were significantly lower at 0.67 and 0.74, respectively, suggesting that the company has made improvements in utilizing its assets more effectively in recent years.
Overall, while there have been ups and downs in the total asset turnover ratio, Mohawk Industries, Inc. appears to have shown relative consistency in efficiently generating sales from its asset base. Further analysis and comparison with industry peers may provide additional insights into the company's asset management effectiveness and competitive position.
Peer comparison
Dec 31, 2023