Mettler-Toledo International Inc (MTD)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,788,310 | 3,919,710 | 3,717,930 | 3,085,180 | 3,008,650 |
| Total assets | US$ in thousands | 3,355,560 | 3,492,400 | 3,326,800 | 2,814,550 | 2,789,320 |
| Total asset turnover | 1.13 | 1.12 | 1.12 | 1.10 | 1.08 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,788,310K ÷ $3,355,560K
= 1.13
The total asset turnover for Mettler-Toledo International, Inc. has been consistent over the past five years, ranging from 1.08 in 2019 to 1.13 in 2023. This ratio indicates that, on average, the company generates $1.13 in revenue for every $1 of total assets it holds.
A total asset turnover ratio above 1 suggests that the company is effectively utilizing its assets to generate sales. The slight increase in the ratio from 2022 to 2023 indicates improved efficiency in asset utilization.
Overall, the consistent and relatively high total asset turnover for Mettler-Toledo International, Inc. reflects the company's ability to efficiently convert its investments in assets into revenue generation. It signals sound operational management and effective use of resources to drive sales.
Peer comparison
Dec 31, 2023