Middleby Corp (MIDD)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,045,311 | 4,087,831 | 4,100,051 | 4,073,671 | 4,060,947 | 3,867,263 | 3,691,937 | 3,487,110 | 3,250,492 | 3,110,772 | 2,927,752 | 2,590,956 | 2,510,357 | 2,571,587 | 2,661,076 | 2,950,103 | 2,959,446 | 2,928,492 | 2,917,809 | 2,824,933 |
| Total assets | US$ in thousands | 6,906,690 | 6,922,610 | 6,984,760 | 6,956,140 | 6,874,870 | 6,671,860 | 6,579,370 | 6,474,160 | 6,383,600 | 5,772,850 | 5,422,780 | 5,289,910 | 5,202,470 | 5,020,180 | 5,414,700 | 5,277,980 | 5,002,140 | 4,928,530 | 4,886,670 | 4,688,120 |
| Total asset turnover | 0.59 | 0.59 | 0.59 | 0.59 | 0.59 | 0.58 | 0.56 | 0.54 | 0.51 | 0.54 | 0.54 | 0.49 | 0.48 | 0.51 | 0.49 | 0.56 | 0.59 | 0.59 | 0.60 | 0.60 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,045,311K ÷ $6,906,690K
= 0.59
Middleby Corp's total asset turnover has been relatively stable around the range of 0.48 to 0.59 over the past few years. This indicates that, on average, the company generated approximately $0.59 in revenue for every $1 of assets it had during the most recent period. The consistency of the total asset turnover suggests that Middleby Corp has been effectively utilizing its assets to generate sales, which is a positive indicator of operational efficiency. However, further analysis in conjunction with other financial metrics is needed to get a more comprehensive understanding of the company's overall performance and financial health.
Peer comparison
Dec 31, 2023