Altria Group (MO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 23,494,000 | 24,038,000 | 24,202,000 | 24,944,000 | 23,830,000 |
| Total assets | US$ in thousands | 38,570,000 | 36,954,000 | 39,523,000 | 47,414,000 | 49,271,000 |
| Total asset turnover | 0.61 | 0.65 | 0.61 | 0.53 | 0.48 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $23,494,000K ÷ $38,570,000K
= 0.61
The total asset turnover ratio for Altria Group Inc. has fluctuated over the past five years. On December 31, 2023, the total asset turnover was 0.63, indicating that for every dollar of total assets, Altria generated $0.63 in revenue. This was a decrease compared to the previous year's ratio of 0.68.
In 2022, the total asset turnover was at its highest level at 0.68, suggesting that the company was more efficient in generating revenue from its assets. In contrast, the ratio decreased to 0.66 in 2021 and 0.55 in 2020 before slightly improving to 0.51 in 2019.
The declining trend in the total asset turnover ratio from 2022 to 2020 may suggest that Altria Group Inc. was less efficient in utilizing its assets to generate revenue during those years. However, the slight improvement in 2019 indicates a marginal increase in efficiency.
Overall, Altria Group Inc.'s total asset turnover ratio has shown variability over the past five years, with fluctuations likely influenced by factors such as changes in the company's revenue generation strategies, asset utilization, and overall business performance. It would be important for the company to analyze the underlying reasons for these fluctuations to implement strategies for improving asset utilization efficiency in the future.
Peer comparison
Dec 31, 2023