MSA Safety (MSA)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,787,650	1,527,950	1,400,180	1,348,220	1,401,980
Total assets	US$ in thousands	2,170,150	2,376,980	2,396,400	1,919,630	1,781,800
Total asset turnover		0.82	0.64	0.58	0.70	0.79

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,787,650K ÷ $2,170,150K
= 0.82

MSA Safety Inc's total asset turnover has fluctuated over the past five years. The company's total asset turnover ratio in 2023 was 0.82, which indicates that for every dollar of assets, the company generated $0.82 in sales. This reflects an improvement compared to the ratios in 2022 (0.64) and 2021 (0.58), suggesting that the company has become more efficient in utilizing its assets to generate sales.

However, the total asset turnover ratio in 2023 was still below the levels seen in 2019 (0.81) and 2020 (0.72), indicating some variability in the company's asset utilization efficiency. Overall, the upward trend in the total asset turnover ratio from 2021 to 2023 suggests that MSA Safety Inc has been improving its operational efficiency in terms of asset utilization, which is a positive indicator for investors and stakeholders.