Middleby Corp (MIDD)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,875,160 | 4,036,600 | 4,032,850 | 3,250,790 | 2,513,260 |
| Total assets | US$ in thousands | 7,283,150 | 6,906,690 | 6,874,870 | 6,383,600 | 5,202,470 |
| Total asset turnover | 0.53 | 0.58 | 0.59 | 0.51 | 0.48 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,875,160K ÷ $7,283,150K
= 0.53
Middleby Corp's total asset turnover has shown a fluctuating trend over the years. It increased from 0.48 in December 2020 to 0.51 in December 2021, indicating some improvement in the efficiency of utilizing its assets to generate sales. Subsequently, there was a more significant increase to 0.59 by December 2022, suggesting a noteworthy enhancement in asset utilization efficiency. However, by December 2023, the total asset turnover ratio decreased slightly to 0.58 before dropping further to 0.53 by December 2024. Overall, the company's total asset turnover ratio has displayed some variability, with periods of improvement followed by slight declines, which may warrant further examination into the factors driving these fluctuations.
Peer comparison
Dec 31, 2024